ESFA Update academies: 17 July 2024
Published 17 July 2024
Applies to England
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Information: National funding formula indicative allocations 2025 to 2026
Due to the timing of the general election, the department will not be in a position to publish indicative schools and high needs national funding formula (NFF) allocations for 2025 to 2026 to the usual timescale in July. Across government, budgets for 2025 to 2026 are still to be agreed; this includes the 2025 to 2026 schools’ budget, which, as usual, the department will need to agree across government.
We will be working closely with local authorities to support them in their planning of the local schools formulae to minimise the impact this has on trusts’ and academies’ financial planning.
Our aim is to give you as much information and certainty as we can, and we will provide you with further updates at the earliest available opportunity.
Information: Department’s response to the school teachers’ review body 2024
We recognise that schools are also awaiting confirmation of the 2024 teacher pay award, alongside the department’s final position about how it expects costs to be managed, to inform budgets.
While academies have freedom to set their pay and conditions, we know that many look to the school teachers’ review body (STRB) process in setting pay awards. The timing of the election caused a delay to the cross-government decision process, but this is now underway, and we are working hard to take these decisions as soon as practicable.
We understand schools’ frustration when such matters are not resolved before the end of the school term and are working hard to resolve as soon as possible.
Information: Budget forecast returns
Academies will also be working to finalise their Budget Forecast Return (BFR) to the Education and Skills Funding Agency (ESFA), ahead of the 29 August 2024 deadline (which has been extended in recent years in order to give trusts as much time as possible to respond).
As is always the case, trusts should work to the timetable they have set in order to submit their BFR by the deadline, based on the best information available to them at the time of preparation (which may not be able to take the STRB process into account).
We want to provide reassurance that while we may work with some to clarify points in their BFRs, the timing of the STRB publication will not mean we ask for a second or fully revised return from all trusts.
Information: Find out about the budget forecast return
Join the BFR power hour session on Thursday 18 July from 3pm to 4pm, to find out more about the BFR before the Thursday 29 August 2024 deadline.
The session will cover:
- changes to this year’s BFR
- why we have made these changes
- why we have the BFR and how we use the data
- how the BFR is completed, including a short demonstration of the form
There will be the opportunity to ask questions during the event.
Register for the BFR power hour on Eventbrite.
Your feedback: Share your experience of receiving funding communications
The ESFA would like to hear from people that work in an academy or academy trust who are responsible for receiving funding allocation and payment information.
Take part in this survey to share your experiences, needs and challenges. The findings will help identify opportunities to improve these processes.
It should take approximately 20 minutes to complete.