Financial information

ESFA Update continuing education: August 17, 2022

1. Action: prepare for R14 – review FRM reports

It is important for suppliers to review their FRM reports in preparation for submitting their final ILR data declaration for R14. For additional information to ensure your data is accurate and compliant, we have published helpful articles on the ESFA Help Center.

2. Information: Skills Bootcamp Funding Guide

The Skills Bootcamps Funding Guidelines set out the funding and performance management guidelines for all vendors contracted to deliver Department of Education (DfE) Wave 3 Skills Bootcamps funded by the DfE through the Agency for funding for education and skills from August 2022.

All suppliers accessing funding through a contract must follow the guidelines set out in this document, regardless of where they are based or deliver. For more details on your contractual obligations, please consult your contract.
Suppliers accessing funding for the delivery of Skills Bootcamp directly through a Combined Municipal Authority (MCA), Combined Authority (CA), Greater London Authority (GLA), Local Authority (LA), Local Economic Partnership (LEP ), should refer to their specific guidelines and not this document.

3. Information: Status of IfATE reviews for August 2022

The Institute for Technical Apprenticeship and Education (IfATE) has released its latest standards review report.

The review status report:

  • shows learnings being reviewed
  • gives a brief overview of planned revisions for each learning
  • indicates the stage reached by each revision.

Read the report on the IfATE website.

4. Information: financial forecasts of independent training providers (ITP)

We continue to require certain Independent Training Providers (ITPs) to provide updated financial information throughout the year.

Not all ITPs are affected. Those who are will be notified individually, in writing, by colleagues in the Post-16 Regions Surveillance Directorate and EF vendors. PTIs included in the scope must complete and return to the Agency a financial forecast template. The terms of submission will be included in the individual notification.

The template and accompanying guidance is available on GOV.UK, and the submission deadline for affected vendors is Friday 30 September 2022.

5. Information: advice for auditors and declaration for suppliers

In response to the consultation on outsourcing, ESFA published in July 2021 an outsourcing standard that suppliers are required to meet from 1 August 2022. Introducing the standard requires moving away of the audit certification process. ESFA has just published a framework and guidance for reporting accountants on outsourcing standard assurance reviews. This document sets out ESFA’s expectations in terms of commitment, approach and review reporting to ensure consistency across the industry.

In addition to publishing the Accountants Reporting Framework, the DfE has updated the Outsourcing Funding Rules for ESFA funded post 16 funding, excluding apprenticeships. The changes are effective from August 1, 2022.