This article refers to the Academy Trust Handbook 2022, which came into effect on 1 September 2022. It summarises the changes highlighted on page 8 of the handbook.
The BFRO and BFRY3 have been combined into a single submission
You were already aware that the budget forecast return outturn (BFRO) and the budget forecast return 3 year (BFR3Y) are now included in a single budget forecast return (BFR) for a more streamlined process, and this update reflects this change.
You'll need permission from the ESFA for special staff severance payments in certain circumstances
The Academy Trust Handbook 2021 included the requirement for trusts to get prior permission from the Education and Skills Funding Agency (ESFA) before making any staff severance payments where:
- An exit package includes a special severance payment at or above £100,000; and/or
- The employee earns over £150,000
A 'special' severance payment is