The TES is reporting that academies have overspent by more than £170m, according to latest government figures.
Numbers released today by the Department for Education show that academies’ expenditure exceeded their income by £171m.
Academies received a total income of £16.74bn in the year ending August 2015, but they spent £16.91bn. The overspend equates to 1 per cent of the academies’ income.
The government states that this does not mean the academies have fallen into debt, “as they may have reserve funds from which these costs were able to be met”.
The news is likely to raise questions about academy chains building up reserves, rather than spending the money on children’s education.
The figures show that expenditure on teaching staff as a proportion of total expenditure has fallen by 4.4 percentage points since 2011/12. At the same time, spending has increased on supply staff and support staff.
Here’s the full report:SFR27_2016_Main_Text
What do you think? Let us know your thoughts in the comments or via Twitter…
Don’t forget you can sign up to receive our daily email bulletin (around 7am) with all the latest schools news stories. Your details will never be given to anyone else and you can unsubscribe at any stage. Just follow this link
We now have a Facebook page - pls click to like!