ESFA have now published their supplementary bulletin to the 2020 Academies Accounts Direction, details can be found here.
The supplementary bulletin has equal status to the Accounts Direction and should be read and complied with alongside it.
The bulletin includes guidance on how COVID related matters should be reported in academy trust accounts, including:
- Areas for Trustees to consider when preparing the Trustees' Report
- Guidance on the reporting of funding received by the academy trust (or that the academy trust is eligible for) from the financial support scheme for schools and/or the Coronavirus Job Retention Scheme (CJRS)
- Confirmation that no disclosure is required where the academy trust has participated in the national free school meals voucher scheme
The bulletin suggests that CJRS income is restricted income, however this should be considered on a case by case basis depending on the accounting for the related sources of income and costs.