The Academy Trust Handbook 2024, which is effective from 1 September 2024 has now been released, which includes a number of revisions and simplifications. 

Below we have detailed the key changes:

• The Board of Trustees must consider the requirements of their reserves policy to include a clear insight into how they are managing reserves. This should:

- Ensure that the financial plans are prepared and monitored ensuring the Trust  

  can continue trading as a going concern and are independently financially  

  sustainable

- Take a long-term view in line with the 3-year forecast submitted to the ESFA

- Outline and set a policy for holding and managing reserves which should be

  detailed within the annual report

• Internal scrutiny guidance has been updated and now specifies the qualification/experience of those carrying out the work. There are new rules for Academy trusts where their annual revenue is over £50million, which will come into effect from 1 September 2025
• Trusts will now be able to enter into finance leases without the prior approval of the ESFA, where the lease category appears on the DfE’s approved list
• The DfE have issued clarification on the actions that must be taken to meet the required cyber security standards
• The DfE/ESFA have extended the examples whereby a Trust may be issued a Notice to Improve

Contact Us

If you wish to discuss this further, please use the contact one of our Education team members here at James Cowper Kreston. 

If you would like to arrange a virtual meeting to discuss your specific circumstances in relation to any of the above, please get in touch with your usual contact within James Cowper Kreston or contact me using the details below.

Samantha Hall

Senior Manager

T: +44 (0) 7866 730870 | E: SHall@jamescowper.co.uk

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