Information for academies about their annual revenue funding.
Applies to England
The Education and Skills Funding Agency (ESFA) funds academies (including free schools, university technical colleges and special academies) on the same basis as maintained schools. We base allocations and payments to academies on an academic year, compared with financial year for maintained schools.
You can read a separate guide about funding for new academies.
A to Z of academies funding terms and acronyms
We explain the main funding terms and acronyms in our A to Z of academies funding.
2023 to 2024 academic year
On 19 July 2022, the Minister of State for School Standards made a written statement setting out the schools, high needs and central school services national funding formulae (NFF) for 2023 to 2024.
Provisional 2023 to 2024 NFF allocation tables and technical notes have been published, along with the policy document detailing the changes.
It is important to note that, as in previous years, individual schools’ and academies’ actual funding may be different to the amounts shown in these tables. This is because local authorities continue to set a local formula, in consultation with local schools’ forums, and within the framework of the schools operational guide for 2023 to 2024, to determine individual schools’ budgets in their areas.
2022 to 2023 academic year
On 19 July 2021, the Minister of State for School Standards, Rt Hon Nick Gibb MP, set out the schools, high needs and central school services national funding formulae (NFF) for 2022 to 2023.
Provisional 2022 to 2023 NFF allocation tables and technical notes have been published, along with the NFF policy document detailing changes.
It is important to note that individual schools’ and academies’ actual funding may be different to the amounts shown in these tables. This is because local authorities continue to set a local formula, in consultation with local schools’ forums, and within the framework of the schools operational guide for 2022 to 2023 to determine individual schools’ budgets in their areas.
General annual grant (GAG) allocation statements for 2022 to 2023 timetable
We have now issued all general annual grant allocations for 2022 to 2023. The allocation statements are available to view and download on Document exchange in the ‘Documents received from ESFA’ section.
We continue to issue in year openers allocations on a month by month basis.
We’ve published the academy general allocation guides for the 2022 to 2023 academic year for mainstream academies, free schools, UTC’s and studio schools, special and alternative provision academies and special free schools that were open before 1 April 2022 and those open between 1 April and 31 August 2022.
Academy funding in 2022 to 2023: an overview of funding for the current academic year
We calculate most of an academy’s revenue funding using the pupil numbers taken from either the autumn census return or an agreed estimate of pupil numbers, as outlined in the academy’s funding agreement.
Academies funded on estimates may be subject to the pupil number adjustment process; visit our academies funded on estimates page for more information.
We used pupil numbers from either the autumn 2021 census or the agreed estimate of pupil numbers for the 2022 to 2023 academic year.
For 2022 to 2023, we’ll continue to use the national funding formula (NFF) for schools and for high needs, to allocate budgets to local authorities.
It is important to note that the NFF school-level allocations that we published in July 2021 were notional allocations only. In 2022 to 2023, local authorities have continued to set a local formula which has determined individual school and academy budgets in their authority. As in previous years, local authorities submitted this local formula to us so that we could produce and issue academies allocation statements.
The general annual grant (GAG)
Most funding for academies comes from the general annual grant (GAG). This is made up of:
- school budget share – calculated on the same basis as for maintained schools in the same local authority. Guidance for 2022 to 2023 explains how we calculate the school budget share.
The minimum funding guarantee (MFG) is a protection against changes in per pupil school budget share (SBS) funding between the 2021 to 2021 and 2022 to 2023 academic years. The amount of protection will vary according to the impact of local changes in the funding formula and the effect of these on individual per pupil rates.
In 2022 to 2023, local authorities have the flexibility to set local MFG between +0.5% and +2.0% per pupil in order to offer higher levels of protection locally.
Where appropriate, the GAG may also include funding for high needs places, 16 to 19 students and start-up funding for new institutions.
Guidance has been issued for schools opening as academies to estimate their revenue funding.
16 to 19 funding
Information about how colleges, schools and academies receive their 16 to 19 allocations is available on our 16 to 19 funding allocations guidance page.
High needs funding
Local authorities commission education provision for pupils that attract high needs funding. This means academies receive high needs funding from both ESFA and local authorities.
We have published information on high needs funding arrangements for 2022 to 2023.
Academies revenue payments
ESFA pays academies’ GAG in 12 equal instalments in accordance with the terms set out in the academy’s funding agreement. A monthly remittance note accompanies each payment. Revenue funding: payments to academies explains how academies are paid and how to change bank details.
Revenue funding outside the general annual grant
Many academies receive funding outside their GAG, including: