News & Articles

Academies budget forecast return (BFR3Y) – latest update and changes

Client Support
Paul Sedgwick
09/06/2020
Click to share to a social media platform.

Due to the impact of COVID-19, the ESFA has announced this year’s BFR3Y 2020 will have some one-off changes, announcing that:

1. The deadline has been extended by 2 months to 29 September 2020
2. There is no need to submit forecasts for academic years 2021/22 and 2022/23 for this year only (but they still need to be produced to comply with the Academies Financial Handbook regulations)
3. The inclusion of 8 summary revenue fields for 2018/19 to help understand the financial position of trusts before and after school closures.

The online form for the BFR3Y will be available to use from 8 July 2020, and the ESFA has prepared an excel workbook to help trusts prepare and showing the changes to the online form. Further information as well as a link to the guidance around using the online form can be found on the gov.uk website here .

Whether you are already working with Rickard Luckin or perhaps seeking independent advice and support during these challenging times, you can of course contact our experienced advisers who are here to help across all areas of your school finances. Please contact Paul Sedgwick at [email protected]  or on 01268 983922 to discuss further.

Find out more
If you have any questions about the above, or would like more information specific to your circumstances, please enter your email address below and we will get in touch:

Related View All

Government announce support for charities with £750m emergency package
09/04/2020
Client Support
Caroline Peters

Government announce support for charities with £750m emergency package

Changes affecting Schools during Covid-19
21/04/2020
Client Support
Kate Bell

Changes affecting Schools during Covid-19

BPS payments brought forward to help farmers with cashflow
17/05/2022
Agriculture
Caroline Peters

BPS payments brought forward to help farmers with cashflow

HMRC announces increase in interest rates for late payments of tax
13/05/2022
Tax
Christian Roberts

HMRC announces increase in interest rates for late payments of tax

Our Accreditations and Memberships