Counterparty balances are balances at year end between trusts and other government bodies. Academy results have to be consolidated into the government s published accounts and so there is a need to identify all counterparty transactions in the year and balances at the end of the year.
A full list of counterparty bodies is included in the ESFA s AAR Excel template.
Universities and higher education organisations are not included as counterparties.
Transactions between academies within the same Multi-Academy Trust are not classified as counterparty transactions.
Please note that as Schools' Choice is now part of the Vertas group, the total value of any Schools' Choice transactions included within the financial statements for the period should be included in the CoPty.Return within the Accounts Return.