EFA e-bulletin for academies: 10 November 2016
Published 10 November 2016
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1. Action: academy trust audited accounts 2015 to 2016 submission arrangements
All academy trusts that have a signed funding agreement during the accounting period to 31 August 2016 must submit audited accounts (annual report, financial statements and auditor’s management letter) for the period ending 31 August 2016 to EFA. This includes free schools, studio schools and university technical colleges (UTCs). The deadline for submitting accounts is 31 December 2016.
The process for submitting your accounts is the same as last year. You will need to:
- complete a short online form covering important information from your audited accounts
- upload your audited accounts and auditor’s management letter to EFA Information Exchange
We’ve updated our guide to submitting your accounts. You should read this guide before completing the online form and uploading your documents.
Your audited accounts are different to the academies accounts return, which is due by 31 January 2017. You can read about the academies sector annual report and accounts, which has more information about this year’s accounts return.
2. Action: insurance top-up funding
Academies eligible to claim top-up funding for their insurance premium can now use the academies funding claim form on GOV.UK for academic years 2015 to 2016 and 2016 to 2017.
Academies can claim for policies of more than one year taken out before February 2014. The period to August 2017 is the final year that top-up funding for insurance will be available.
3. Information: publication of schools block and post-16 funding allocations for 2016 to 2017
We’ve published:
- schools block funding allocations to each individual mainstream maintained school (for financial year 2016 to 2017) and academy (for academic year 2016 to 2017) under local authorities’ funding formulae for the funding year 2016 to 2017
- post-16 allocations for individual schools, academies and FE institutions funded by EFA for 16 to 19 year olds and 19 to 25 year olds with an education, health and care (EHC) plan
We’ve published the data-sets in the interest of transparency and to give a more complete picture of education funding by showing how EFA has allocated £5.9 billion (post-16) and £32 billion (schools block funding) of public funds.