Academy Deadline Reminder

24th March 2020

In this current time of uncertainty the usual deadlines for ESFA notifications can, and likely will be missed by some Trusts, and it remains to be seen if they are still enforced. I thought I would take this opportunity to remind you of what your obligations are (at present):

Every month

  • The Academies Finance Handbook includes as a MUST that monthly management accounts are prepared and presented to the Chair. There is no getting around it, you have to do it

April

  • National non-domestic rates form should go live enabling you to claim for rates bill for the year
  • Budget Forecast Return Outturn (BFRO) available online to start working upon

May

  • Budget Forecast Return Outturn (BFRO) is due for submission to the ESFA by the 19 May 2020. This return details your outturn against budget for 2019, results to March 2020 and forecast August 2020 position. This may be tricky for many trusts to complete if either their finance teams are depleted, or there are a lot of unknowns financially in the period to August. Also it is worth remembering that the Trustees should review and approve this before submission
  • Unaudited Teachers’ Pension EOYC submitted to Teachers’ Pension

June 

  • Budget forecast return 3 year (BFR3Y) available online to start working upon.

July 

  • BBFR3Y to be completed and submitted to the ESFA by 23 June 2020.

It is yet not known if any of these dates will be relaxed, so key to keep on top of them.

Should you have any issues, or require help or assistance preparing your returns please do not hesitate to contact us or your usual Bishop Fleming contact.

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