Your Guide to the 2025 Budget Forecast Return (BFR)

Key date: All academy trusts operating before 30th April 2025 must submit their BFR by 5pm on 28th August 2025. The filing window opens on 3rd June 2025.

Who should submit?

All Single-Academy Trusts (SATs), Multi-Academy Trusts (MATs), free schools, and any academy opening before 1 September 2025 must submit the return.

What the BFR includes:

·      Prior-year actuals

·      Current-year forecast as at March 2025

·      A three-year future budget, covering staffing costs, pupil numbers, reserves, loan obligations, and capital plans.

Key changes for 2025:

·      Enhanced reporting is required for trusts holding reserves exceeding 20% of total revenue—detailing planned use such as IT upgrades, estates projects, staff development, or contingency provision.

·      Increased input caps on staff cost lines to accommodate larger MATs.

·      Continued detailed reporting of ICT expenditure, both revenue and capital, using the expanded DfE chart of accounts.

Submission process:

·      Begin by downloading and completing the updated DfE Excel workbook, then manually enter the data into the DfE online portal via the Sign-In/IDAM system.

·      Ensure all figures in the online form match exactly what’s in your file—the workbook is not uploaded directly.

Internal compliance steps:

·      Board approval must be secured before submission. If a deficit remains unaddressed by reserves, the DfE must be notified within 14 calendar days.

·      Plan internal deadlines at least two weeks ahead to allow time for trustee review and rectification of any variance issues.

How SJC Supports Your BFR Preparation

At SJC Chartered Accountants, we provide end-to-end support to ensure your BFR is accurate, compliant, and submitted on time:

·      Forecast preparation & modelling aligned to DfE templates

·      Reserves reporting support, especially for trusts exceeding 20%

·      ICT spend coding and mapping assistance

·      Internal data review & validation, reconciling to past BFRs and management accounts

·      Trustee briefing and deficit protocol guidance

Why Timeliness and Accuracy Matter

Submitting a robust and realistic BFR protects financial sustainability—ensuring adequate staffing, SEND support, essential services, and future investment. It also demonstrates governance compliance and safeguards against reputational risk.

If you’d like help getting your BFR ready—or want a walkthrough of new requirements and validation checks—contact our specialist academy finance team today.

Ready to get compliant and confident this BFR season?

Reach out to SJC Chartered Accountants for expert guidance and support.