EFA e-bulletin for academies: 19 June 2014
Published 19 June 2014
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1. Action: Priority School Building Programme 2 applications
The online expression of interest application system for the second phase of the Priority School Building Programme (PSBP2) has now opened.
Local authorities, diocese, and academy trusts have until 3pm on Monday 21 July 2014 to submit expressions of interest for whole school sites or multiple individual buildings.
PSBP2 was launched on 1 May 2014 to undertake major rebuilding and refurbishment projects to address the needs of those schools in the very worst condition. Further details, including full information for applicants, are available on GOV.UK.
2. Information: risk protection arrangements (RPA) for academy trusts
The risk protection arrangement (RPA) for academy trusts is an alternative to insurance where losses that arise are covered by UK government funds. It will be effective from 1 September 2014.
Education Funding Agency (EFA) has published the draft membership rules for the RPA, which set out the full scope of the RPA and members are expected to have full knowledge of these and are deemed to be bound by them.
Academy trusts joining the RPA in September can do so at any time before 1 September but if they opt in after 30 June their funding will be adjusted retrospectively from 1 November 2014 rather than from 1 September. This means if you opt in before 30 June we can adjust your payments in time for the start of the coming academic year. Trusts are able to opt in to the RPA using an online form. EFA strongly recommends you make sure you have arrangements for appropriate cover in place from September 2014.
3. Information: new payment profiles for academies and free schools
EFA is revising the payment profile for academies and free schools from September 2014. This will provide more consistency across all state-funded schools and simplify financial planning.
EFA will profile payments into 12 equal instalments. Currently it pays 12% in the first month, with the remainder flat profiled across the rest of the year.
4. Information: July payments for academies
In addition to the normal GAG payments in July, EFA will be making the first of two payments for summer schools.
It will also pay seven-twelfths of each academy’s provisional main allocation for Universal Infant Free School Meals (UIFSM), plus the small academy allocation.
Academies converting after 1 April 2014 will receive their first UIFSM grant payment from their local authority. These will both show as separate lines on your remittance advice.
The first of 4 payments for pupil premium will be received into accounts on 4 July 2014, for which a separate remittance advice will also be issued.
5. Action: online training for academies on financial returns and framework
Videos of EFA webinars on the budget forecast on 9 June and the March accounts return on 15 May are available, along with narrated presentations on these returns.
Registration remains open for the financial framework webinars on 15 July at 11am (for academies) and 2pm (for auditors). At these you will have the opportunity to ask specific questions about the financial framework, including the academies financial handbook and the accounts direction.
You can submit questions in advance when you register. Please view the narrated presentations before the webinars. EFA will publish these by 10 July.
6. Information: NASBM budget forecast training for academies
National Association of School Business Managers (NASBM) is offering a series of face-to-face training sessions on budget forecast returns led by academy practitioners on 25 June (Birmingham), 26 June (Manchester) and 1 July (London).
EFA and Deloitte will be present at those sessions to support these practitioners. You can find out more and register via NASBM’s website.
7. Information: academies budget forecast return
EFA is publishing a new online form for you to use to submit your budget forecast returns due on 31 July. It is currently testing the system and plan to make it available on 30 June.
EFA will provide full guidance and publish more details in its next e-bulletin.
8. Reminder: March 2013 accounts return
Please send in your March accounts return as soon as possible. The submission deadline is 27 June. Multi-academy trusts need to complete a consolidated return for qualifying academies for that period.
EFA has published a document setting out the common errors and issues its delivery partners Deloitte have found so far, as well as the tests and standard questions they will use in validating these returns.
Please note that there is an error in the counterparty tab of the return: the validation on the worksheet only allows you to input assets and expenditure as negative numbers. Please input these counterparty figures as negative numbers and we will amend your returns on receipt.
9. Information: charities statement of recommended practice (SORP)
The Charity Commission has confirmed that a new charities statement of recommended practice (SORP) has been approved by the Financial Reporting Council. The Commission anticipates publishing this later in the summer. EFA intends to issue guidance about the impact on academies’ annual accounts after publication.
10. Reminder: updating changes to academy trustees, members and accounting officers
Academy trusts and free schools, including UTCs and studio schools, are required to comply with their funding agreements, the Academies Financial Handbook and the Accounts Direction. This includes the requirement to notify EFA, on behalf of the Secretary of State, about changes of:
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chair of trustee, accounting officer and chief financial officer as they arise
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members and other trustees as they arise, depending on the terms of the trust’s funding agreement
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members and trustees in the trust’s audited financial statements
A full list of requirements can be found on GOV.UK.
Please notify EFA of any changes since the last submission of audited financial statements to the academies enquiry service with the subject heading ‘changes to academy trustees, members and accounting officers’, as required under your funding agreement and the handbook.
EFA questions
Contact form https://form.education...
For schools, local authorities, other education institutions and providers, accountants, auditors and other professional advisers with queries for the Education Funding Agency
11. Information: property data surveys are published
EFA is sharing more than 19,000 school building surveys with local authorities, diocesan boards and academy trusts.
This follows the Property Data Survey Programme (PDSP), which gathered building condition data on all schools across England except those classified as modernised. EFA intends to use this data to help inform how it allocates funding with data on condition needs.
EFA will send all relevant local authorities, diocesan boards and academy trusts e-mailed details of the data release with supporting information and contact details for queries. The survey reports will be published from 16 June in phases, completing in September 2014.
EFA shaped its approach for structuring and disseminating this information following a successful pilot scheme earlier this year.
12. Consultation: publishing performance measures
The Department for Education is seeking views on proposals for publicly funded schools and colleges to publish performance measures on their websites.