Whole of Government Accounts

Whole of Government Accounts (WGA) is a set of national accounts that are required by legislation to give Parliament and the public a view of spending by the whole of the UK government, that includes all public sector bodies. The purpose of WGA is to achieve better financial management, accountability and transparency.

Academies, as publicly funded bodies are required to provide a return to allow the Department for Education (DfE) and ultimately HM Treasury to complete the national accounts. The financial year 2011-12 will be the third year Academies have made WGA returns.

The YPLA is working with DfE and HM Treasury to make sure that the work involved for Academies in completing the return is minimised, while at the same time meeting all appropriate requirements. We will be arranging training sessions for Academies to help them understand WGA and to answer questions about the return.

Details of these and other support to Academies, the return itself and timings will be announced shortly but we are looking to allow as much time as possible for the return. In the meantime Academies should prepare to close their books on 31 March 2012 to accurately record their accruals, prepayments, current assets and current liabilities at that date.

Information and action for:

  • Academies
 

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Issue 43 contents