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

Client Support
Paul Sedgwick
09/06/2020
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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 paul.sedgwick@rickardluckin.co.uk  or on 01268 983922 to discuss further.

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