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Last reviewed on 3 September 2021
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School types: All · School phases: All

Get up to speed with the changes to financial regulations for maintained schools to improve financial transparency. Find out what you’re required to do, so you can make sure you're compliant.

This article is based on the government response to the 2019 consultation on financial transparency of local authority (LA) maintained schools.

Submit a 3-year budget forecast to your LA

When: Between 30 May and 1 June of each year, starting in 2021/22 

There’ll understandably be a degree of uncertainty when providing a 3-year forecast, so the DfE recommends planning for a range of scenarios. 

This is set out in the government response to proposal 3. 

Record and declare related party transactions (RPTs)

When: By the end of the financial year 2021/22 (i.e. submitted to LAs by the end of March 2022)

There’ll be additional columns in the chief financial officer (CFO) assurance statement where you’ll need to declare the number of RPTs and

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