ESFA issues new guidance for estimating academy funding allocations
The Education and Skills Funding Agency (ESFA) has issued guidance to help newly formed academies estimate their funding allocations.
This guide is designed for schools converting to become academies, and schools becoming sponsored academies, between 1 September 2022 and 31 March 2023.
The ESFA has issued separate guidance for free schools, studio schools and university technical colleges.
The key points covered include:
General annual grant (GAG): mainstream academies
GAG is revenue funding and is used by academies to meet their day-to-day running costs. The main element of this funding is the pre-16 school budget share (SBS). Contact us for advice.
Haslers’ dedicated team specialises in working with individual academies, Multi Academy Trusts (MATs), free schools and independent schools.
Our team offers expertise in all aspects of auditing, accounting, tax and business support in the education sector. Our experience of acting for a number of schools, and our in-depth knowledge of the issues facing them, means we can provide specialist, cost-effective advice and services to meet the audit and accounting requirements for free schools and academies both through the start up years and with on-going requirements and responsibilities following opening.
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