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Academy Trust Handbook 2023

Academy Trust Handbook 2023

Academy Trust Handbook 2023

The Academy Trust Handbook (ATH) 2023 was updated in July 2023 and comes into effect on 1 September 2023.

In this briefing we discuss the key changes with references to the ATH in parentheses:

✅ Related party transactions – the approval threshold by which ESFA approval is required has increased from £20,000 to £40,000 and there are further exemptions for transactions with other educational providers [5.42].

✅ Annual reporting – Trusts no longer need to explain in the annual report when fewer than 6 board meetings have been held during the year [2.3].

✅ Budget setting – the Budget Forecast Return filing deadline has been extended by one month to 31 August 2023 [2.15].

✅ Budget monitoring – more discretion in the distribution of management accounts [2.18-2.20].

✅ Sustainability – salary sacrifice schemes can be set up for electric vehicles in most cases without ESFA approval [2.31].

✅ Governance – the Accounting Officer and Chief Financial Officer should not be the same individual [1.28].

If you have any questions or queries please contact:

Peter Foley

t: 01865 261 100

For further information the ATH can be accessed from the following link:

Find out more about Peter Foley

Peter Foley

Peter Foley

Peter Foley is an Audit Manager