it had been given \u201cexceptional financial support\u201d<\/a>. <\/p>\n\n\n\nLatest accounts, published this week, show that help came in the form of \u00a31.5 million loans from a department \u201cdraw-down facility\u201d. <\/p>\n\n\n\n
\u201cWhile the full [\u00a31.5 million] facility was made available, only \u00a31 million has been used as to date,\u201d documents state. \u201cThe ESFA are providing financial support to ensure that the partnership can continue to pay debtors on a timely basis.\u201d<\/p>\n\n\n\n
Arthur Terry bosses \u201chave every expectation that sufficient further funds will be received\u201d, with discussions \u201cactive regarding additional draw-downs\u201d this year. Repayments will \u201cstart in September 2026\u201d and last three years.<\/p>\n\n\n\n
The trust now has an overall deficit of about \u00a33.9 million, despite having a surplus of \u00a31.9 million 12 months earlier. <\/p>\n\n\n\n
Case ‘shows extent of challenge’ facing schools<\/h3>\n\n\n\n The trust blamed the \u201csocial and economic climate, including political changes, inflation, the cost-of-living crisis, mental health concerns, and funding cuts to social services\u201d for the issue. <\/p>\n\n\n\n
Institute of School Business Leaders CEO Stephen Morales warned the case \u201cdemonstrates the extent of the challenge schools and trusts face\u201d.<\/p>\n\n\n\n
Arthur Terry, whose chief executive is Teaching School Hubs Council chair Richard Gill, noted its projections suggest \u201cthat whilst a deficit is predicted for two years, a small surplus is expected over the next three years\u201d. <\/p>\n\n\n\n
It is implementing \u201ca number of staffing measures, reviewing and reducing its cost base throughout the organisation, and maximising\u201d commercial and sponsorship income. <\/p>\n\n\n\n
But there are \u201cthere are no planned redundancies within those measures\u201d. The DfE has also \u201cstated its trust and confidence around ATLP\u2019s leadership, governance and the strength of our three-year recovery plan\u201d, a spokesperson said.<\/p>\n\n\n\n
\u201cThe ATLP is a strong and respected multi-academy trust. We have made significant progress in reducing the deficit and are working closely with the DfE to deliver a balanced budget as soon as possible.\u201d<\/p>\n\n\n\n
Arthur Terry also took on three schools in 2024, with the last of them officially joining days before the notice to improve was issued. <\/p>\n\n\n\n
One leader, who sits on a DfE advisory board that considers MAT growth plans, questioned how much scrutiny is paid to finances when \u201ca trust is a strong one by reputation\u201d. <\/p>\n\n\n\n
\u201cAsking a trust if there\u2019s anything that they\u2019ve found in-year that\u2019s causing them problems with management accounts or balances that they want to tell us [could be something to do.”<\/p>\n","protected":false},"excerpt":{"rendered":"
A 24-school trust racked up seven-figure losses after paying for iPads for staff and pupils<\/p>\n","protected":false},"author":311204,"featured_media":224013,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[4],"tags":[32,28,890],"post-theme":[2398],"class_list":["post-224152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-academies","tag-dfe","tag-schools","post-theme-schools"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t