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<p>Academy trusts have primary responsibility for their own financial affairs and
where the Education and Skills Funding Agency intervene, we work with each trust to
put in place a recovery process that underpins education provision with strong financial
management and oversight. This can include the provision of deficit funding, issuing
a financial notice to improve or, in the most serious cases, termination of the Funding
Agreement.</p><p>Where we have provided deficit funding as part of this process, this
information is reflected in trusts’ accounts. Attached is a document setting out deficit
funding information for the most recent year available, financial year 2017-18. The
department records deficit funding by the academy that funding is associated with
and this is also reflected in the attached document.</p><p>As of March 2018, the total
number of academies for which deficit funding was agreed in financial year 2017-18,
reflects less than 1% of all open academies, and less than 0.2% of the total funding
allocated to academies for the 2017-18 academic year.</p>
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