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Dozens of academies must return nearly £15m by July because of a government funding blunder, say accountants for some of the affected schools.
Allan Hickie, a partner at UHY Hacker Young said
'"The increase in the number academies meant the government agency responsible for allocating the funding was swamped by work and this led to some of the errors.
"Some schools may not yet know they have a problem. It all depends whether their business manager has noticed they have been overpaid."
Mr Hickie added that schools with tight cash flow could be seriously affected by having to pay back the money which could amount to 10% of their budget.
He said his firm was acting for one primary school that had been overfunded by £190,000, a sum that could pay for five teachers.
This particular school only became an academy last summer.'
It's becoming increasingly clear that the arrangements for funding academies and monitoring their financial performance is woefully inadequate and can only get worse as academy numbers increase.