Summary
This handbook provides an overarching framework for implementation of effective financial management and other controls, consistent with your obligations as public-funded bodies.
Colleges must comply with this handbook as a condition of their accountability agreement.
Read this handbook if you have responsibility for governing, managing or auditing a college or college group. It is effective from 1 August 2024 and will remain in force until updated or replaced.
It is for:
- college governors
- accounting officers
- chief financial officers
- governance professionals
- auditors
This handbook makes a number of references to specific statutory obligations. However, the handbook should not be taken as offering legal advice. Where a college needs advice it should take it from its appointed legal advisers.
To provide feedback about this handbook or to contact the Education and Skills Funding Agency (ESFA) for guidance, use the customer help portal.
Contents
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Foreword by David Withey, Chief Executive of the Education and Skills Funding Agency (ESFA).
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Find out if this handbook applies to you.
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The duties of key people responsible for running colleges.
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The financial management requirements for colleges.
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The need for colleges to establish processes to ensure systems are effective and compliant.
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How colleges must report on their finances to give assurance to Parliament and the public about their use of resources.
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The financial freedoms and limits applying to colleges.
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How the Department for Education (DfE) oversees colleges and may intervene where concerns arise in accordance with the oversight, support and intervention framework.
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Review the list of policies, legislation and resources referenced in this handbook.
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A PDF version of the handbook.