Standalone Schools Face Financial Crisis
Seventy-five trusts have raised concerns about their ability to continue operating in 2023-24 due to soaring inflation, plunging rolls, staff absences, and unfunded pay rises.
This number is more than double the previous year, with one trust facing a deficit of almost £6 million.
- Over a third of the trusts in financial distress have received government bailouts or been promised additional financial support.
- Almost 70% of the trusts in financial distress are single-academy trusts.
A big rise in the number of council schools subject to a notice of financial concern has also been reported.
Author's summary: Schools face financial crisis due to deficits.
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