Getting your apprenticeship costings right is essential for ESFA compliance and for operating a financially sound apprenticeship programme.
Apprenticeship costings 2023–2024 – December
December 6 @ 10:00 am – December 20 @ 11:30 am
You’ll need to consider these questions:
- Are you clear on what the apprenticeship actually costs you to deliver and where a profit margin can be made?
- Are you clear on what are eligible and ineligible costs and that you aren’t overclaiming or underclaiming funding?
- Are you reporting your training price breakdown correctly to the employer?
- How do you recognise the apprentice’s prior learning and reflect this in your costings?
- Are you applying the correct training price for your own employees (which must be at cost price)?
- How do you measure whether a new apprenticeship standard is financially viable for you to deliver?
In the webinar series, we’ll help you to:
- Be clear on eligible and ineligible costs and how to identify these
- Measure and take the apprentice’s prior learning into account
- Establish a clear rational for your costs – in particular, the training price and assessment price
- Explore different costing models and options
Tools and resources
As well as your three insightful webinar sessions, we will also be providing you will two handy resources to take away.
Apprenticeship Costing Tool – allows you to identify product cost for effective budgeting of the costs of your delivery but also it includes a function to establish a commercial training price in eligible cost categories and a function that can be used to calculate the impact of prior learning.
RPL calculator – allows you to calculate the correct rate of adjustments for prior learning and inform you of the ILR and apprenticeship service values
You can also book in a follow-up consultancy call with SDN’s compliance and funding specialist, David Lockhart-Hawkins, for advice tailored to your organisation.
The series will be facilitated by SDN Strategic Associate, David Lockhart-Hawkins. David lives and breathes the ESFA funding rules and has worked with providers across the country to establish effective compliance systems. David has been at the forefront of the apprenticeship reform compliance strategies, helping providers prepare to deliver standards.
This series is for anyone involved in the development of apprenticeship costings. This could, for example, include finance staff, compliance staff, employer-facing staff, business development teams, commercial leads, senior managers / decision-makers.