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Time to think about Academy Trust Reserves

At the end of April the ESFA published a short paper on academy sector reserves. Please click here for the full article.

This provides a number of statistics relating to the revenue reserve position of Academy Trusts for the year ended 31 August 2021 and compares the position with the previous year. The period under review includes part of the impact of the coronavirus pandemic on schools’ finances. This time period includes the full school re-opening in September 2020, partial school closures from January to March 2021, before full re-opening after that point. 

The data shows that 97.4% of academy trusts had a cumulative reserve surplus, an increase of 1.5% compared to the previous year. Other notable statistics included:

  • The cumulative surplus of trusts with positive reserves was £3.96 billion compared to £3.17 billion in the prior year
  • Of trusts with deficits, the total cumulative deficit was £22.4 million compared to £42.1 million in the prior period
  • Average revenue reserves were £1.48 million compared to £1.15 million in 2019/20
  • Average academy trust reserves as a percentage of income were 12.9% compared to 11.4% in the prior year


Contact Us

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.

Alex Peal

Joint Managing Partner

Tel:  +44 (0)7771826264  | E:


The information in this newsletter must not be relied on as giving sufficient advice in any specific case.   


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