• DfE shells out £27m to prop up struggling academies

    The government handed out nearly £4.5 million to prop up cash-strapped academies run by the failed Schools Company Trust during the year it announced closure. A Schools Week investigation has also uncovered that the new trusts brought in to take over the Schools Company academies will now be saddled with repaying most of the debt.

    5.00 Feb. 15th, 2019 | News

  • ‘Systematic failure’ lifts academy trust’s deficit to £2.4m

    An academy trust in charge of schools for excluded and vulnerable pupils unknowingly racked up a £2.4 million deficit because of a “systematic” failure in its financial systems. Annual accounts for 2017-18, published last week, have revealed the full extent of financial mismanagement at the TBAP Multi-Academy Trust. Leaders at the trust, which runs 11

    5.00 Feb. 8th, 2019 | News

  • Councils urged to claw back cash as 'excess' school surpluses top £500m

    Councils are being urged to claw back cash from schools holding “excess” surpluses – as new figures show the total amount stored away by cash-rich schools was nearly £600 million. Department for Education figures published on Thursday show a worsening financial position for council-maintained schools – with more than three in ten secondary schools now

    7.00 Dec. 8th, 2018 | News

  • Academy trust deficits rise but reserves grow for many

    The proportion of academy trusts reporting a financial deficit rose to 6.1 per cent in 2016-17 from 5.5 per cent in 2015-16, new statistics from the Department for Education have revealed. The 185 trusts that were in deficit were responsible for 300 academies (4.3 per cent of the total), and smaller trusts were more likely to find

    13.47 Jul. 26th, 2018 | News

  • Nine in 10 heads are headed for an 'unmanageable' budget deficit

    More than 90 per cent of headteachers expect their schools to rack up an unmanageable budget deficit in the near future, a poll has revealed. Twenty-one per cent of the 589 heads who responded to a survey by the school leaders’ union NAHT said their school was already in deficit this year, an increase of

    22.02 Mar. 21st, 2018 | News