New Department for Education data confirms a 20 per cent jump in the average trust’s reserves, up from £0.96 million a year earlier to £1.15 million. The figures cover the year to the end of last August however, capturing only the first phase of the pandemic.
95.9 per cent of trusts ended the year with a cumulative surplus or balanced books, up from 94 per cent in 2018-19. The net cumulative surplus across the sector rose to £3.13 billion.
The average surplus balance was £1.22 million, up 16 per cent, while the average deficit balance was £376,000.