8 February 2023
Press ReleasesThe 11th annual Kreston Academies Benchmark Report published today highlights growing nervousness in academy trusts about what the future might hold for the health of the sector’s finances.
This year the report includes over 320 Trusts representing over 2,400 schools and has been conducted by the UK Academies Group of Kreston Global - the global network of independent accountancy firms.
The benchmark report aims to provide an insight on the significant surpluses which 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.
To download a free copy of the report please click here.
We are running a webinar on 23rd February 2023. During our webinar, we will provide an insight into the trends in the sector and issues faced by Academies and Multi-Academy Trusts. If you would like to register for this webinar, please click here.
