Academy with £20 million PFI contract ordered to improve its finances

A school tied into a £20 million PFI contract and with “significant” deficits forecast this year has been ordered by the government to improve its finances and join a multi-academy trust.

Bradfield School in Sheffield, which is expecting to have racked up a deficit of £800,000 by August, has been told to begin the process of moving into a larger sponsor after officials questioned its viability as a standalone school. The school must have kick-started the process by September.

The school has been issued with a financial notice to improve by the Education and Skills Funding Agency for failing to submit audited financial statements – which were due on December 31. The school was already subject to ESFA intervention “due to concerns regarding financial management”.

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