Academy Newswire

Here’s some information from the recent updates in case you haven’t had the chance to read them.

Reporting

Submit your school resource management self-assessment checklist (12.02.2025)

The school resource management self assessment checklist is now open for academy trusts to complete and return by Friday 14 March 2025.

All academy trusts with an open academy on Tuesday 31 December 2024 must submit a checklist.

In the online form, question 42 has supplementary questions that must also be completed when answering ‘No’. If the ‘No’ answer to this question is applicable to your trust, answer ‘N/A’ to move on to the next question.

Information

Increase in employer National Insurance contributions (12.02.2025)

The ESFA aim to provide details of how they will support academies with the increase in employer National Insurance contributions in March 2025.

Academy accounts return data from 2023 to 2024 is now available on the new financial benchmarking and insights tool (12.02.2025) 

In autumn 2024, the financial benchmarking and insights tool (FBIT) became the principal place for schools to view their financial data and benchmark their spending. The new tool combines and replaces the ‘View my financial insights tool’ and the ‘Schools financial benchmarking’ website – new data releases will no longer be published through these services.

FBIT can be used by anymore working in a role relating to school resource management to:

• benchmark a school’s or academy trust’s spending against other similar providers
• identify areas of improvement and share best practice with other schools
• produce a workforce development plan via DfE’s curriculum and financial planning tool
• easily access commercial resources, guidance and frameworks provided by DfE
• build a report to share analysis with governors, trustees and senior leadership

Anyone can view the majority of the FBIT service, but for some functions you will need a DfE Sign-In account.

The ESFA are running introductory webinars during March 2025 to support new users of the tools and provide a refresher session on benchmarking.

Share your views by using the feedback form, or by emailing benchmarking.support@education.gov.uk.

Academy trust payment practices reporting

Please see our factsheet on academy trust payment practices reporting here.

Training

Upcoming events to add to your diary

Academy Schools Forum – 24 June 2025 – Sign up here

Chair of Trustees and Governors Training – 11 September 2025 – Sign up here

Academy Schools Forum – 16 September 2025 – Sign up here

Recordings

Please view the recording from our February Academy Schools Forum here.

Regards

Michaela, Gary, James and Matt

PS if you don’t already receive the ESFA updates direct from the ESFA, you can subscribe here.

We specialise in advising business managers and bursars on the accounting, VAT and audit requirements for an Academy. 

If we don’t already act for your school or if you would like to attend our next Academy Forum (free of charge), speak to Michaela Johns, our Academies expert on 023 8046 1256. 

You can also visit www.academyvat.co.uk for guidance on VAT rules for academy schools.