Growing nervousness for Academy Trusts highlighted in the latest Academies Benchmark Report.
The 11th annual Kreston Academies Benchmark Report highlights growing nervousness in academy trusts about what the future might hold for the health of the sector’s finances.
Although significant surpluses are being reported in the sector, per pupil income has increased by just 1% in the last year against a backdrop of inflation rates of more than 10%, increased energy costs and teacher pay hikes. As a result, 88% of trusts are expecting future reductions in surpluses and reserves.
Whilst the sector has seen in-year financial surpluses once again, these surpluses are lower than the previous record-breaking year. However, a significant proportion of single academy trusts (SATs) in the primary sector (47%) have reported in-year deficits for 2021/22, suggesting larger trusts are faring better financially.
The report, supported by the Mitchell Charlesworth Academies Team, surveys over 320 Trusts representing over 2,400 schools and is full of sector insight.
Download the full report to learn more.