Most trusts will now have agreed their year-end audited financial statements for 31 August 2023 with their Finance and Resources Committee and Trust Board and will now be turning their attention to the completion of the 2022/2023 Accounts Return.
The Accounts Return requires to be submitted to the ESFA by 30 January 2024.
As the Accounts Return and audited financial statements follow different financial reporting frameworks, there are some areas where the Accounts Return requires additional information on information that is more detailed compared to that in the financial statements.
New features of the 2022/2023 Accounts Return are as follows:
- Guidance added on where to report the income and expenditure on a teaching school hub;
- Guidance added on where to report income and expenditure on Trusts that offer a boarding provision;
- Information required for dilapidation provisions on leases;
- Analysis required of Post 16-19 funding income, which should no longer be reported as part of the General Annual Grant income;
- Updated guidance on where to report grants that have been received to improve schools, social mobility or cover the costs of the work required to open a new academy;
- Updated guidance in other revenue grants for teachers pension grant to be included within general annual grant income;
- Wording and layout of all validations have been improved.
The next step
If you need any help or guidance in completing this year's 2022/2023 Accounts Return, please contact your local UHY adviser.
