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Academy conversion: surplus and deficit balance transfer process
Guidance for schools and local authorities on what happens if a school has a budget surplus or deficit when it converts to academy status.
This guidance is for:
- local authorities
- school leaders
- school staff
- governing bodies
It explains what happens if a school has a budget surplus or deficit when it becomes an academy and stops being maintained by the local authority.
This guidance relates to the Academies Act 2010 and the Academy Conversions (Transfer of School Surpluses) Regulations 2013.