Annal Nayyar reports- Academy trusts 2013 March accounts return

Academy trusts 2013 March accounts return

As published in the EFA business cycle, EFA have issued the request for all new academy trusts that have not prepared financial statements, as at 31 August 2012, to submit a 2013 March accounts return.

The 2013 March Accounts Return covers all new academy trusts that have not prepared financial statements as at 31 August 2012 and will be for the period from a trust’s incorporation up to 31 March 2013. This will fulfil the Education Funding Agency (EFA) and the Department’s requirement to present their financial statements for the year ending 31 March 2013 before Parliament by 31 January 2014.

Single trusts that prepared financial statements as at August 2012 have already completed an accounts return for the same period. We do not expect to ask you for any further information for the 2012-13 financial consolidation.

As published in the EFA Business Cycle  the EFA require trusts to make one of the following financial returns:

  • Single      trusts that have opened since 1 April 2012, and that have not prepared      financial statements as at August 2012, will need to complete an accounts      return for the financial year to 31 March 2013.
  • Multi-academy      trusts (MATs) that have opened new academies since 31 August 2012 will      need to complete an accounts return relating to the year to 31 March 2013.      MATs can choose to complete an accounts return for the year to 31 March      2013 for each new academy or one consolidated return for all new      academies. .

The template for the 2013 March Accounts Return together with guidance notes that explain how to complete the return are available to download from this page.

The deadline for submission is 28 June 2013. Trusts submitting a 2013 March Accounts Return will be required have their return reviewed and signed off by their external auditors at the trusts’ expense.

 

Academy trusts 2013/14 budget forecast

We will publish the budget forecast submission request on 4 April 2013. The budget forecast return has been updated and enhanced in consultation with a group of academy trusts to make it more complementary with trusts’ financial systems.

Submission is due by 31 July 2013 for all academy trusts opened as at 31 March 2013.

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