The financial reporting requirements of academy trusts and maintained schools differ and therefore are not directly comparable. In the 2014/15 academic year, 113 academy trusts reported a cumulative revenue deficit in the August Accounts Return. This represents 4% of trusts submitting a return. At the end of the 2014-15 financial year, local authorities reported 944 LA-maintained schools with a deficit revenue balance. This represents 5.3% of such schools.
Further information on the financial position of these schools can be found in the financial statements of the academy trusts or for maintained schools the Consistent Financial Reporting (CFR) returns.