General article http://education.gov.uk/a00203294/fe-financial-management 2013-06-05T11:10:29 Colleges and providers financial management Colleges and providers financial management Information about the financial planning and management of colleges and sixth-form colleges. <![CDATA[<h1> Financial planning handbook 2013 and template</h1> <p> Published jointly with the Association of Colleges (AoC) and the Skills Funding Agency, this guidance for colleges sets out the requirement to prepare a financial plan using the template provided.</p> <p> Colleges must return the financial plan template (Excel version), commentary (Word version) and a scanned copy of the front sheet of the financial plan (ideally PDF) by 31 July 2013.</p> <ul> <li> <a target="_blank" href="//media.education.gov.uk/assets/files/pdf/f/financial planning handbook may 13.pdf">Financial planning handbook </a></li> <li> <a target="_blank" href="//media.education.gov.uk/assets/files/xlsx/f/financial plan 2013 v 2 point4.xlsx">Financial plan template</a></li> </ul> <h1> College accounts data 2009 to 2010</h1> <p> This first release of college finance records<span style="display: none"> </span> is taken from the combined Skills Funding Agency and the former YPLA for the year ended 31 July 2010. The data contains 351 (100%) returns and has been subject to basic credibility and reasonableness checks. For any queries concerning any element of this data, please contact the <a href="mailto:pfm@skillsfundingagency.bis.gov.uk">Skills Funding Agency</a> or the Education Funding Agency, as appropriate.</p> <ul> <li> <a target="_blank" href="//media.education.gov.uk/assets/files/xls/c/analysis of college finance records for 2009-10.xls">College accounts 2009/10</a></li> </ul> <h1> College accounts 2011/12</h1> <p> This first release of data is taken from the combined Skills Funding Agency and Education Funding Agency database of college finance records for the year ended 31 July 2012. The data file contains 342 out of 344 returns (99.4%).</p> <p> Information supplied by further education and sixth-form colleges has been subject to basic credibility and reasonableness checks, either by the Skills Funding Agency or Education Funding Agency.</p> <p> However, whilst every effort has been made to cleanse the data, colleges may identify inaccuracies in their information supplied to us.</p> <p> In these circumstances, would colleges please contact:<br /> <a href="mailto:pfm@skillsfundingagency.bis.gov.uk">pfm@skillsfundingagency.bis.gov.uk</a> ,or <a href="mailto:externalassurance.EFA@education.gsi.gov.uk">externalassurance.EFA@education.gsi.gov.uk</a>, as appropriate.</p> <p> This current version of the accounts file may be subject to further release(s).</p> <ul> <li> <a target="_blank" href="//media.education.gov.uk/assets/files/xlsx/c/college accounts 2011-12 v2p0.xlsx">College accounts 2011/12</a></li> </ul> <h1> College accounts 2010/11</h1> <p> This fourth release of data is taken from the combined Skills Funding Agency and Education Funding Agency database of college finance records for the year ended 31 July 2011. The data contains 346 out of 347 returns (99.7%) and has been subject to basic credibility and reasonableness checks. The agency is currently working with one final college and, as soon as the agency receives the data from this college, it will be added to the information published on the website.</p> <p> On initial inclusion of the sixth-form college data in the previous release of data a small number of anomalies were identified which have been rectified. The most significant were the omission of Wyke Sixth-Form College and the inclusion of Oldham College instead of Oldham Sixth-Form College.</p> <p> For any queries concerning any element of this data, please contact:<br /> <a href="mailto:pfm@skillsfundingagency.bis.gov.uk">pfm@skillsfundingagency.bis.gov.uk</a>  or <a href="mailto:externalassurance.EFA@education.gsi.gov.uk">externalassurance.EFA@education.gsi.gov.uk</a>  as appropriate.</p> <ul> <li> <a target="_blank" href="//media.education.gov.uk/assets/files/xlsx/c/college accounts 2010-11 v2p1.xlsx">College accounts 2010/11 V2.1 (updated 3 July 2012)</a></li> </ul> <h1> Benchmarking 2011 to 2012</h1> <p> The data used in this benchmarking package is taken from the Finance Record returns submitted by further education and sixth-form colleges for the financial year ended 31 July 2012.</p> <p> The benchmarking package has been commissioned in partnership with the Association of Colleges (AoC), Education Funding Agency (EFA) and College Finance Directors Group (CFDG) as an integral element of the College Financial Reporting Project.</p> <p> The 2011 to 2012 (academic year) further education benchmarking tool can be used in Microsoft 2007 excel or later versions of excel. Due to the amount of content contained in the benchmarking tool it will not run in pre-2007 versions of excel.</p> <p> For any queries concerning the benchmarking package, please contact:<a href="mailto:externalassurance.EFA@education.gsi.gov.uk">externalassurance.EFA@education.gsi.gov.uk</a>.</p> <ul> <li> <a target="_blank" href="//media.education.gov.uk/assets/files/pdf/g/guidance_for_2011-12_college_financial_benchmarking.pdf">Guidance for 2011/12 college financial benchmarking</a></li> <li> <a target="_blank" href="//media.education.gov.uk/assets/files/xlsm/f/financial benchmarking software 2011 2012 financial year v 1p1.xlsm">Further education benchmarking tool 2011/12</a></li> </ul> <h1> Accounts direction guidance 2012/13</h1> <p> These documents are of interest to principals and chief executives of sixth-form colleges (SFC), finance directors at SFC colleges, and financial statements and regularity auditors.</p> <p> The purpose of these guidance documents is to provide direction to colleges and auditors on the preparation of colleges’ annual financial statements.</p> <p> The Education Funding Agency has worked with the Association of Colleges (AoC), the College Financial Directors Group (CFDG) and Skills Funding Agency and consulted with the Sixth-Form Colleges Association and auditors on these documents, which supplements that in the 2007 Statement of Recommended Practice (SORP) and consolidates all previous accounting policies guidance issued by the Education Funding Agency.</p> <p> This year the accounts direction has two component parts:</p> <ol> <li> <a target="_blank" href="//media.education.gov.uk/assets/files/pdf/a/accounts direction for 2012_13 financial statements v1 4.pdf">Accounts direction for 2012/13 financial statements</a> outlines the requirements on colleges from the funding bodies.</li> <li> <a target="_blank" href="http://www.aoc.co.uk/en/policy-and-advice/funding-and-finance-pensions/finance-directors/finance-guidance.cfm">Accounts direction handbook 2012/13</a> provides generic guidance to colleges to assist them with the technical aspects of completing their annual financial statements. This document is produced by the AoC and can be obtained from their website.</li> </ol> <h1> Sixth-form colleges – arrangements for obtaining borrowing consent</h1> <p> Under the ASCL Act, sixth-form colleges are able to enter into borrowing with the consent of the relevant local authority.</p> <p> As local authorities no longer have a direct role in paying, financially monitoring and assuring sixth-form college funding, the EFA proposes to receive and review applications for consent on behalf of local authorities and make clear and appropriate recommendations to local authorities based on this work.</p> ]]> false Bursar Local authority Education and training professionals Education Funding Agency English Financial Planning Handbook

External link http://www.education.gov.uk/publications/standard/publicationDetail/Page1/YPLA-FP-2011 AoC website

External link http://www.aoc.co.uk/en/policy-and-advice/funding-and-finance-pensions/finance-directors/finance-guidance.cfm Analysis of College Finance Records for 2009-10

Excel, 1 Mb //media.education.gov.uk/assets/files/xls/c/analysis of college finance records for 2009-10.xls Finance record 2011-12

xlsx, 333 Kb //media.education.gov.uk/assets/files/xlsx/f/finance_record_2011-12_v1 5final.xlsx Addendum to the Accounts Direction Handbook July 2012

PDF, 25 Kb //media.education.gov.uk/assets/files/pdf/a/addendum to the accounts direction handbook july 2012.pdf Financial Planning handbook May 13

The Financial Planning Handbook (the Handbook) has been prepared to achieve the following objectives: provide a ‘one-stop’ document to which colleges can refer when completing their financial plans, readily accommodate changes in generally accepted accounting principles issued by the Accounting Standards Board and other guidance issued by the funding bodies and • reduce bureaucracy, in that the funding bodies will stop publishing financial planning documents in hard copy if they have not changed.

PDF, 531 Kb //media.education.gov.uk/assets/files/pdf/f/financial planning handbook may 13.pdf Financial Plan 2013

The template is for colleges to prepare a financial plan .

xlsx, 1 Mb //media.education.gov.uk/assets/files/xlsx/f/financial plan 2013 v 2p5.xlsx Guidance for 2011-12 College Financial benchmarking

This document provides guidance for 2011-12 college financial benchmarking

PDF, 419 Kb //media.education.gov.uk/assets/files/pdf/g/guidance_for_2011-12_college_financial_benchmarking.pdf Financial Benchmarking Software 2011- 2012

The data used in this benchmarking package is taken from the Finance Record returns submitted by Further Education and Sixth Form colleges for the financial year ended 31 July 2012.

xlsm, 4 Mb //media.education.gov.uk/assets/files/xlsm/f/financial benchmarking software 2011 2012 financial year v 1p1.xlsm College Accounts 2010-11

This fourth release of data is taken from the combined Skills Funding Agency and Education Funding Agency database of college finance records for the year ended 31 July 2011.

xlsx, 1 Mb //media.education.gov.uk/assets/files/xlsx/c/college accounts 2010-11 v2p1.xlsx College Accounts 2011-12 v2p0

This first release of data is taken from the combined Skills Funding Agency and Education Funding Agency database of college finance records for the year ended 31 July 2012.

xlsx, 1 Mb //media.education.gov.uk/assets/files/xlsx/c/college accounts 2011-12 v2p0.xlsx Accounts Direction for 2012_13 financial statements v1 4

This guidance outlines the requirements on colleges from the Funding Bodies.

PDF, 270 Kb //media.education.gov.uk/assets/files/pdf/a/accounts direction for 2012_13 financial statements v1 4.pdf