The Academies Accounts Return 2019/20 (AAR) is now live for Academies to upload and submit their 2019/20 financial results.
As a result of the Coronavirus Pandemic, this year’s submission deadline has been extended to 23 February 2021.
As in previous years, online submission is via the Identity and Access Management System (IDAMS) portal and the Education and Skills Funding Agency (ESFA) have released a workbook to assist with the preparation of data.
Click here to access the workbook
There have been a number of updates to the process as a result of feedback received and additional requirements, these are as follows:
- Employees with emoluments (salary, pension and other benefits) in excess of £100k are reported separately by bands in increments of £10k.
- In disclosing Related Party Transaction regarding Trustee Remuneration, the table now includes columns to declare whether salary, pension or other benefits are included.
- A new table for prior year data relating to employees with remuneration above £60k and all paid trustees has been included. Information is provided by bands at full time equivalent level and must include pension contributions and other benefits for the 2018/19 period. This is a resubmission of data previously obtained, but any changes will not require explanation.
- Counter-party data is now limited to transactions within the Academy Sector.
- New data fields have been added to separately record Covid Grant income.
- Updated fields to separate out rental and letting income.
- New Statement of Financial Activities (SOFA) field to report any revenue expenditure made from capital funding.
There are a number of tutorial videos to assist with the preparation of the return accessible through gov.uk.
Click here for more information.
The ESFA are also running Teams calls and web chats from now until mid-February to assist with preparation and submission of the return.
For further advice on any of the information contained in this email, please contact your usual Moore adviser.