Financial oversight and self-evaluation of our academic institutions' financial management, as assessed on our website
The Department for Education (DfE) has announced that new academy trusts are now required to submit their Financial Management and Governance Self-Assessment (FMGS) form through the DfE Sign-in system. This process involves logging into the online DfE portal designed for academy financial returns and governance compliance.
To complete the online self-assessment form, trusts should carefully review key questions and themes related to their financial management processes, governance arrangements, risk management strategies, use of public funds, board and senior leadership accountability, internal scrutiny, external oversight, and the trust's capacity to maintain solvency and deliver educational outcomes effectively.
The FMGS form aligns with requirements set out in the Academy Trust Handbook and the Academies Accounts Direction, which detail expectations around financial management, governance, and timely submission of related reports to the DfE.
Before submitting the form, trustees and finance leads are encouraged to familiarise themselves with the latest Academy Trust Handbook, financial reporting guidance, governance best practice guides issued by the DfE, any customized question sets used in the FMGS form relevant to their trust type, and prior audit and internal scrutiny reports to inform their responses.
The online form for new academy trusts is available for use through the DfE's website. Trusts should note that the form is only for submitting returns and not for questions or reviews before its use. Trusts that haven't registered for DfE Sign-in are required to follow the create a DfE Sign-in account process.
Newly operational academy trusts must submit a return within three months of opening their first schools. The deadline for submitting the return is three months after the opening of the first school. Trusts should check the DfE communication channels or help portal for detailed, up-to-date submission instructions and troubleshooting support.
The Education and Skills Funding Agency (ESFA) closed on 31 March 2025, and all ESFA activities have moved to the DfE. For questions or issues, the customer help portal is a separate service available. Trusts should also be aware that a separate document lists the questions for review before using the online form for new academy trusts.
The collected data will be through DfE Sign-in, and the online form for new academy trusts does not replace the need for a separate document with review questions. The form is not for any purpose other than submitting returns.
Trusts must thoroughly consider their educational and financial practices when completing the Financial Management and Governance Self-Assessment (FMGS) form, addressing questions related to financial management, governance, risk management, use of public funds, accountability, internal scrutiny, external oversight, and solvency.
Trusts should familiarize themselves with relevant documents, including the Academy Trust Handbook, financial reporting guidance, DfE governance best practice guides, customized question sets, and prior audit and internal scrutiny reports, before submitting the FMGS form via the DfE Sign-in system.
