Academy Trust Handbook 2023 – What Has Changed?

The Education & Skills Funding Agency (ESFA) has published its new Academy Trust Handbook. It is, the guidance says, a 'materially shorter and sharper document'.

The Handbook takes effect from 1 September 2023 and introduces several changes. It is also accompanied by a new Schedule of Musts – a separate document that pulls together all the requirements contained in the Handbook into one helpful list.

The main changes in the 2023/24 Handbook include:

• Related party transactions: increasing the threshold beyond which ESFA approval is required for related party transactions from £20,000 to £40,000.
• Annual reporting: removing the requirement for explanations in annual accounts when holding fewer than six board meetings per year.