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
https://www.critchleys.co.uk/Experts/Peter-Foley
e: pfoley@critchleys.co.uk
t: 01865 261 100
For further information the ATH can be accessed from the following link:
https://assets.publishing.service.gov.uk/media/64a52424c531eb000c64fe78/Academy_Trust_Handbook_2023.pdf
Find out more about Peter Foley