Financial compliance and reporting are a constant responsibility for academy trusts. Beyond meeting regulatory requirements, the most successful trusts work towards financial excellence.

To support you in achieving this, we’re pleased to share our latest benchmarking report.

Now in its 10th year, our 2025 Academy Trust Benchmarking Report provides a critical snapshot of the financial health of the sector - at a time when many trusts are facing unprecedented financial pressures.

The year ended 31 August 2024 marks our 10th annual report, and for the first time, the sector on average incurred an operating deficit. For the first time since the report began, the sector recorded an average operating deficit for the year ended 31 August 2024. This significant shift highlights how funding levels have not sufficiently covered increases to the cost base of schools over recent years, trusts are relying on reserves from previous years to manage rising costs.

Encouragingly, trusts are continuing to invest in their estate, and revenue spend on capital works has increased on average from the prior year. Despite these challenges, investment in estates continues, with revenue spend on capital works increasing on average across the sector. This sustained investment is crucial for ensuring continued compliance with requirements for both physical and digital estates.

However, the increase in pay rates in the sector, combined with ongoing challenges in the recruitment and retention of staff, has resulted in a rise in the average payroll ratio in the sector. The report also highlights a rising payroll ratio, driven by sector-wide pay increases and continued difficulties with staff recruitment and retention.

A snapshot of the report:

Our benchmarking report is meticulously designed to empower your trust in identifying areas of strength, potential weaknesses, and opportunities for improvement. By analysing key ratios tailored to the size of your academy trust - whether a Single Academy Trust (SAT), Small MAT, Medium MAT, or Large MAT - you’ll gain actionable insights to inform strategic decision-making and enhance operational efficiency.

Download the report: