The BFR is a collection that spans the past, current and future financial years. It collects data in a format to allow for academic and financial year analysis by the Department for Education (DfE). Ahead of the submission window opening on 3 June 2025, the DfE has published the latest guidance and updates to the BFR here.
The submission deadline is 28 August 2025, therefore practically many trusts need to ensure that budgets are prepared, approved by the board and then translated into the BFR by the end of the summer term.
What's changed?
Whilst there have not been any major changes to the BFR form, the level of information being collected regarding the use of reserves for Trusts holding in excess of 20% of total revenue income in reserve has been enhanced.
Previously, Trusts were asked what capital projects are planned or what non-capital purpose reserves were being held for. In the 2025 BFR, Trusts are asked to identify the level of reserves being held for contingency, with specific details requested in relation to reserves in excess of this.
Potential reasons for holding excessive reserves could be:
IT and systems
- plans to spend reserves on IT upgrades and installations
- purchasing or maintenance of digital equipment
- alarm systems or network costs
Pupil provision
- plans to spend reserves on things specific to pupils, such as curriculum or SEND, and
- capture the need for reserves to be held due to falling or raising pupil numbers
Staff provision
- plans to spend reserves on covering costs relating to the recruitment, management and development of staff within the trust, for example planned training commitments
- funding set aside for teacher pay awards and pension contributions
Finance and strategy
- plans to spend reserves on the cost to develop school improvement strategies
- growth of the trust
- investments into central services to improve delivery
- funds to offset deficits in future years
- paying back loans
- the impact of inflation
New buildings and estates projects
- building a new classroom or sports hall
- purchasing new properties
Maintenance and improvements to existing buildings and estates projects
- refurbishments to classrooms
- buying furniture
- replacing windows
- investments into solar panels
The next step
If you require assistance in preparing your BFR, please get in touch with Jack Wilkinson or your usual UHY academy adviser.
