The issues faced by schools converting to academy status

Having been involved in the education sector for almost 30 years I have an invaluable insight into the challenges faced by schools wanting to become academies and the hurdles to overcome to achieve that ambition.

By Graham Wilson, partner at the Blackburn office of accountants and business advisors Beever and Struthers.

Schools making the transition can secure additional finance to improve their educational offering and be independent of local authority control, thereby allowing them to determine their own direction and to adapt their admissions policy and staff terms and conditions to meet the needs of the school.

  • appointment of a legal adviser to conduct the conversion process;
  • establishment of an academy trust – a separate and independent legal entity;
  • transfer of title to assets e.g. land and buildings, lease agreements and licences from the local authority to the new legal entity;
  • setting of a conversion date;
  • acknowledgement that all academies have a financial year end of 31 August compared to 31 Auguest for a local authority school, necessitating a change in budgeting and reporting deadlines;
  • appointment of an auditor;
  • finalisation of the school’s position with the local authority at the date of conversion;
  • a valuation of assets to be transferred – requiring either an independent valuation, an insurance valuation or a valuation by a valuer nominated by the Education Funding Agency;
  • a valuation by an actuary of a school’s share of the surplus/deficit on the Local Government Pension Scheme for support staff;
  • a potential change of accounting package to one designed for use by academies.

As an approved partner of the National Association of School Business Management (NASBM) we provide expertise to many schools looking to convert to academies and ongoing assistance to those that have converted. Our services include:

  • external audit – a robust audit focused on risk;
  • business support – preparation of management accounts and cashflow forecasts;
  • responsible officer/internal audit – supporting the governor appointed to this role or providing this service on behalf of the governing body;
  • teachers’ pension – undertaking the annual audit of teachers’ pension contributions;
  • payroll bureau services – including payroll processing and online filing;
  • business risk and governance – advice on gover-nance structure and risk management training;
  • HR – support and advice on employment law via our HR director;
  • tax and VAT advice.

Enjoyed this? Read more from Lancashire Business View

Latest news

1

Group First acquires Northlight freehold Northlight Grounds

Group First acquires Northlight freehold

04 Nov 2026

2

Vincents Solicitors acquires Worralls Vincents

Vincents Solicitors acquires Worralls

04 Nov 2026

3

City’s £1.55m funding to tackle derelict buildings Former Larder Property Lancaster Road

City’s £1.55m funding to tackle derelict buildings

03 Nov 2026

4

Gym Gear acquired by Findel Established Gym Gear Has Earned An Excellent Reputation Over Its Past 21 Years Of Trading

Gym Gear acquired by Findel

03 Nov 2026

5

Firms show support for Lancashire Business Day 2026 Clp5793

Firms show support for Lancashire Business Day 2026

03 Nov 2026

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV131 November/December Magazine Networking Event
LBV131 Magazine Launch Social720No Text 19 Nov 2026

LBV131 November/December Magazine Networking Event

The Landmark, School Lane, Burnley, BB11 1UF

08:30 - 10:30

Lancashire Business Day 2026
LBD26 WW Logo720 27 Nov 2026

Lancashire Business Day 2026

Burnley Football Club, BB10 4BX

12:00 - 17:00

Sub36 Reunion & Networking
03 Dec 2026

Sub36 Reunion & Networking

Burnley Football Club, BB10 4BX

15:00 - 17:00

Lancashire Net Zero Conference 2027
NZC27 Social 1200x800Generic 1 11 Feb 2027

Lancashire Net Zero Conference 2027

The Wellbeing Farm, Edgworth, Wheatsheaf Hill Farm, Plantation Road, BL7 0BY

09:30 - 02:00

Help to Grow: Management Course
Help To Grow 25 Sep 2026 - 15 Dec 2026

Help to Grow: Management Course

University of Lancashire, Preston, PR1 2HE

09:30 - 12:00

Funding Unlocked
IMG_3058.jpeg.jpg 04 Nov 2026

Funding Unlocked

Accrington Stanley FC, Accrington , BB5 5BX

10:00 - 12:30

Breakfast Social and Coworking Day: November
Brekfast social Nov Creative lancs small.png.png 05 Nov 2026

Breakfast Social and Coworking Day: November

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 12:00

Clubhouse Business Network sponsored by Orca Finance - November 2026
Club House Padel 05 Nov 2026

Clubhouse Business Network sponsored by Orca Finance - November 2026

Clubhouse, Blackburn, BB1 3NT

14:00 - 16:00

Lancashire Construction Connections
1790691579952.jfif.jpg 05 Nov 2026 - 05 Nov 2026

Lancashire Construction Connections

Holmes Mill, Clitheroe, BB7 1EB

14:00 - 17:00

National Minimum Wage (NMW) and National Living Wage (NLW) Compliance
Untitled design (11).png.png 10 Nov 2026

National Minimum Wage (NMW) and National Living Wage (NLW) Compliance

Online - Microsoft Teams

11:00 - 11:45

Immigration changes on the horizon - what HR teams need to know
Immigration webinar.png.png 10 Nov 2026

Immigration changes on the horizon - what HR teams need to know

Online, via Microsoft Teams

12:00 - 12:45

Preston Tech Connection: People Behind The Ideas
11 Nov 2026

Preston Tech Connection: People Behind The Ideas

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:03

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV130 Online GraphicWebsite
Subscribe now

Weekly news bulletin