Academy Trust Year-End Guidance: Trustees’ Reports, Audit Preparation and Reserves Management

This three-part academy trust video series provides practical guidance on year-end reporting, audit preparation and financial sustainability.

Designed for trustees, CFOs and academy trust finance teams, the sessions explain:

How to prepare a compliant Trustees’ Report under the Academies Accounts Direction

How to ensure your trial balance is audit-ready and avoid audit delays

How to manage academy trust reserves responsibly and transparently

The focus throughout is on governance, regulatory compliance, transparency and long-term financial resilience.

Each video addresses common challenges trusts face and provides clear, actionable steps aligned with Department for Education (DfE) and ESFA expectations.

Next steps

If you would like tailored guidance on preparing your academy trust Trustees’ Report, improving audit readiness, or reviewing your reserves strategy, our education specialists are here to help.

You can contact Carly via her profile.

We work closely with trustees, CFOs and finance teams to strengthen governance, ensure compliance with the Academies Accounts Direction and support confident, sustainable financial decision-making.

Get in touch to discuss your trust’s year-end planning and explore how we can support you with practical, sector-focused advice.

Academy Trusts:

Trustees’ Reports -Timing and Templates

Carly Pinkus and Ed Passmore discuss why the Academy Trust Trustees’ Report is far more than a compliance requirement. It is one of the key documents reviewed by the Department for Education (DfE), the ESFA, auditors and other stakeholders to understand how a trust is governed, how funds are being used and what its future plans look like.

They explain how trusts can approach the report more effectively – starting preparation early, using templates aligned with the Academies Accounts Direction (AAD) and ensuring the report clearly reflects the trust’s strategy, governance and financial stewardship.

Academy Trusts:

Reserves – Getting the Balance Right

Carly Pinkus and Ed Passmore explain why reserves are an important measure of financial sustainability for academy trusts.

While trusts must prioritise spending on education and pupil outcomes today, they also need to plan for future pressures such as capital investment, inflation and unexpected costs.

Carly and Ed discuss how trustees can approach reserves in a balanced and practical way – considering sector benchmarks, linking reserves to risk management and long-term strategy, and explaining the trust’s approach clearly in the Trustees’ Report so regulators, auditors and other stakeholders understand how financial resilience is being managed.

Academy Trusts:

Getting Your Trial Balance Ready for Audit

Carly Pinkus and Nayim Rahman discuss why preparing a clean and accurate trial balance is one of the most important steps in ensuring a smooth academy trust audit.

A well-prepared trial balance helps reduce delays, minimise last-minute adjustments and gives trustees confidence that the numbers are complete before accounts are finalised.

They talk through the most common issues that slow audits down such as unreconciled control accounts, missing year-end adjustments and incomplete fixed asset records and share practical steps finance teams can take to prepare early and keep the year-end process on track ahead of the 31 December ESFA submission deadline.