Funding gloom as academy trusts run out of ‘easy savings’

Static funding, rising costs and ongoing uncertainty over future income is putting increasing financial pressure on academy trusts, a major new report has warned.

The eighth Kreston Academies Benchmark report, the largest independent survey of the financial health of the academy sector, shows that half of academy trusts had an in-year deficit in 2017-18.

It warned that with the current rate of deficits the academies sector has five or six years worth of reserves left.

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