logo-education
0370 270 6000

already registered?

Please sign in with your existing account details.

need to register?

Register to access exclusive content, sign up to receive our updates and personalise your experience on brownejacobson.com.

Privacy statement - Terms and conditions

local authorities to have more time to calculate academy surpluses?

3 October 2013

The DfE have released a consultation paper on its rules around the transfer of school surpluses to academies on conversion to academy status. The consultation on the changes lasts for 6 weeks with the new laws being pencilled in to come into effect on 1 January 2014.

Whilst the changes to the Academy Conversions (Transfer of School Surpluses) Regulations are minimal, the new measures proposed include a plan to extend the time a local authority (LA) has to determine the surplus from three to four months. The rights for an academy to appeal the determination have also been restricted.

Such changes could potentially prolong the adverse effect on converted academies’ cashflow as, whilst academies can apply for help, LAs are not compelled to allow academies access to such funds until the accounts are finalised. It is therefore surprising to see that no measures are planned to compel LAs to assist by releasing cash early if academies encounter financial difficulties as a result of the Regulations.

related opinions

Government guidance on Covid-19 for Higher Education (HE) institutions

Following the Prime Minister’s announcement on new measures to tackle Coronavirus, and with students about to start new terms, the government has updated its guidance to universities to make their buildings and campuses as safe as possible.

View blog

Government announces ten-year programme of school rebuilding

Ambitious funding plans, announced recently by the Prime Minister, have made clear that spending on school buildings is seen as a key element of efforts to stimulate the economy post-COVID.

View blog

Members of academy trusts have fiduciary duties

We are increasingly asked are there any limits on how members can exercise their powers.

View blog

Levelling Up – What now for education policy?

Following the Conservatives’ election victory in December the new government will be able to implement their election manifesto in full.

View blog

mailing list sign up



Select which mailings you would like to receive from us.

Sign up