What financial risks lie ahead for academies?
- Chancellor George Osborne has promised to protect the schools budget in his autumn spending review
- However, with the Department of Education under pressure to keep its budget in check, there could be long-term funding challenges ahead for schools and academies
- Our Head of Education, Tilden Watson, examines four key financial risks faced by academies, and how they can do more with less
Academies are building a health safety net to protect themselves against financial challenges ahead. Latest figures show academies held an average of £632,000 in reserve in 2013/14.
However, with pressure on resources increasing rapidly and with government funding rising by just 0.1% since 2010, the longer-term picture looks less rosy.
In an article for Academy Today magazine, Zurich Municipal’s Head of Education, Tilden Watson, explains that academies will have to start doing more with less.
He also discusses:
- The role of Regional School Commissioners
- The impact of the Education and Adoption Bill on the creation of new academies
- The challenge faced by the Department of Education in funding places for 500,000 extra secondary school pupils
You can read the full article here.