Academy trust finances
Every academy trust in England with its academies' latest share in deficit, the middle academy's reserve per pupil and the trust's own central spending per pupil.
A trust can move money between its academies, so an academy shown in deficit may be supported by the trust as a whole. Most of a school's money pays for staff, so deficits usually build up when pay and other costs rise faster than funding, or when pupil numbers fall and the money that comes with each pupil goes too. What helps: a recovery plan agreed with the council or trust that brings the budget back into balance over a few years, regular forecasts that governors check, and early conversations about pupil numbers and special needs funding.
On average, academy trusts spent £510 per pupil centrally in 2023–24, money that is not counted in their individual schools' own spending. (IFS, p.56) Central spending here is cash for each year.
Area figures are withheld for trusts with fewer than five academies.
| Trust | Academies | In deficit | Median reserve per pupil | Central spending per pupil | Trend |
|---|---|---|---|---|---|
4 | — | — | £317 | ||
8 | 0.0% (0 of 8) | +£1,287 | £515 | ||
1 | — | — | — | ||
3 | — | — | £1,490 | ||
1 | — | — | — | ||
21 | 0.0% (0 of 21) | +£178 | £699 | ||
3 | — | — | £1,141 | ||
2 | — | — | £3,781 | ||
1 | — | — | — | ||
3 | — | — | £480 | ||
2 | — | — | £457 | ||
9 | 22.2% (2 of 9) | +£285 | £575 | ||
2 | — | — | £226 | ||
5 | 0.0% (0 of 5) | +£1,071 | £662 | ||
1 | — | — | — | ||
19 | 0.0% (0 of 19) | +£1,038 | £895 | ||
4 | — | — | £912 | ||
6 | 50.0% (3 of 6) | +£185 | £577 | ||
1 | — | — | — | ||
10 | 50.0% (5 of 10) | +£75 | £424 | ||
3 | — | — | £658 | ||
19 | 10.5% (2 of 19) | +£1,278 | £274 | ||
1 | — | — | — | ||
10 | 0.0% (0 of 10) | +£958 | £537 | ||
1 | — | — | — | ||
7 | 0.0% (0 of 7) | +£1,069 | £444 | ||
1 | — | — | — | ||
2 | — | — | £229 | ||
2 | — | — | £300 | ||
10 | 0.0% (0 of 10) | +£737 | £407 | ||
3 | — | — | £353 | ||
3 | — | — | £599 | ||
1 | — | — | — | ||
1 | — | — | — | ||
2 | — | — | £382 | ||
1 | — | — | — | ||
1 | — | — | — | ||
1 | — | — | — | ||
9 | 55.6% (5 of 9) | -£184 | £711 | ||
15 | 6.7% (1 of 15) | +£863 | £360 | ||
2 | — | — | £276 | ||
1 | — | — | — | ||
1 | — | — | — | ||
2 | — | — | £809 | ||
11 | 9.1% (1 of 11) | +£495 | £1,155 | ||
1 | — | — | — |
Sources: DfE Financial Benchmarking and Insights Tool data (CFR returns for council-run schools, April to March; academy accounts returns, September to August), Get Information about Schools, DfE section 251 outturn (DSG balances), the Charity Commission register and the IFS annual report on education spending in England 2025–26 (IFS figures in 2025–26 prices, November 2025 deflator). Open Government Licence v3.0. How these figures are worked out