Do I still need to complete my budget returns?

The quick answer is yes. 

The longer answer is at present the ESFA have not yet announced that any of the usual reporting requirements for academies have been relaxed or lifted, so you must proceed as normal for now.

In the meantime, if you think you will have any operational issues in complying with the requirements, we would recommend that you contact the ESFA as soon as possible to advise. This will ensure that they are aware of it and can note it on their records. Remember at present if an academy trust is late for 2 returns then the ESFA will publish them in a list of trusts not meeting their requirements. Additionally, if it appears the sector as a whole are going to have an issue meeting reporting deadlines, then they may change the deadline for everyone.

There will also be other deadlines and requirements that you must ensure you comply with, for instance monthly management accounts, Teachers’ Pension returns and also capital and other revenue grants which may have a time limit for spending the grant. Failure to comply with terms and conditions of grants could lead to a recoupment of grant by the funder.

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If you have any questions on this matter, contact our Education sector specialists.