Academy trusts on verge of going bust, report claims
More from this theme Recent articles Academy trusts could be on the verge of going bust, a major report has warned, with even the biggest MATs taking a financial hit. However, the Kreston group, a network of accountancy firms, study found that CEO pay among the largest trusts is rising again after a period of “stagnation”. Kevin Connor Bishop Fleming head of academies Kevin Connor, a report author, said the research shows trusts “are heading towards a financial cliff edge as they grapple with costs” from teacher pay rises and the SEND crisis. “This creates massive problems for the future which, without action, could become a silent stranglehold on the sector.” The academies benchmark report studies the accounts of more than 260 trusts. Here’s what you need to know… 1. More in-year deficits… The proportion of trusts racking up in-year deficits has more than trebled since 2021, from 19 per cent to 58 per cent. Secondary single-academy trusts were worst-hit, according to the analysis, as their overall reserves fell from an average surplus of £6,000 …