ESFA: college financial planning handbook and financial plan

Documents

College financial planning handbook 2019: financial planning requirements for sixth-form and further education colleges (web accessible version)

Ref: Version 2HTML

Proposed timeline for college financial returns during 2020 to 2021

https://www.gov.uk/government/publications/college-accounts-direction/proposed-timeline-for-college-financial-returns-during-2020-to-2021

Commentary requirements for COVID-19 November financial return

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Standard cashflow template

MS Excel Spreadsheet, 177KB

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Integrated financial model for colleges

MS Excel Spreadsheet, 1.93MB

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Integrated financial model for colleges: unprotected version

MS Excel Spreadsheet, 1.93MB

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Integrated financial model for colleges: completed example

MS Excel Spreadsheet, 2.11MB

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Integrated financial model guidance for colleges

PDF, 508KB, 12 pages

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Integrated financial model for colleges (web accessible version)

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Common issues with the integrated financial model for colleges (IFMC)

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Details

College financial planning handbook

The college financial planning handbook sets out ESFA’s financial planning framework for sixth-form and further education colleges. Colleges must refer to this document when preparing the Integrated Financial Model for Colleges.

COVID-19 November financial return

ESFA has issued new templates for a simplified financial return for colleges. The information submitted in these templates must give a realistic view of financial performance and reflect the cost of implementing the college’s strategy. These documents are:

1. Standard cashflow template – this is a slightly updated version of the template used in July 2020. Please ensure you use the new version of the template for the November COVID-19 return.
2. Commentary – as with most ESFA returns we will be asking for supporting commentary to provide some context for the financial information. We have provided guidance on the minimum contents of the supporting commentary.

Please ensure you use the new version of the cashflow template published on Monday 5 of October and not the version submitted in July 2020. Colleges that submit information in the wrong version of the template will be asked to re-submit on the correct template.

We are only requiring the accounting officer to sign-off the return, as we acknowledge that it might not be possible to convene a full governing body sign-off meeting ahead of the return deadline.

We are conscious of the pressure of the current pandemic and have therefore continued to work with the Association of Colleges and the College Finance Directors Group to reduce the burden of financial returns.

We will provide guidance and support through the ESFA’s online enquiry form. Please ensure you select ‘College Financial Returns’ under query type, and reference ‘COVID-19 November financial return’ in the body of the query.

Submission arrangements for the COVID-19 November financial return

Colleges must submit these documents to ESFA by Friday 27 November 2020.

Colleges will be able to submit their documents via an online portal. The new portal uses the IDAMS (Identity and Access Management System) to authenticate users which colleges should already be familiar with.

Both documents (Standard Cashflow Template, and Commentary) must initially be uploaded at the same time by colleges but can subsequently be resubmitted separately, if required. Colleges will receive email confirmation that their upload has been successful.

Further details are available within the submission portal.

If the person responsible for submitting these documents does not have access to the IDAMS system they can request an account using the ‘I don’t have an account’ link on the login page. Please complete ESFA’s online enquiry form if you have any questions about your submission.

Ongoing monitoring

Corporations under ongoing ESFA monitoring arrangements should continue to submit management accounts and other information as required to [email protected] (in addition to submitting these templates).