News
Academies and the Education Funding Agency - 2012-01-11
From 1 April 2012, the new Education Funding Agency (EFA) will take on the functions previously undertaken by the Young People's Learning Agency (YPLA). The EFA is an executive agency of the Department for Education (DfE), with the Chief Executive both reporting to a Director General of the DfE and being accountable to Parliament. It has been announced that the Chief Executive will be Peter Lauener, who is currently Chief Executive of the YPLA.
The remit of the EFA includes responsibility for the direct funding of Academies and Free Schools and all 16-19 Provision (including Further Education and Sixth Form Colleges) and for distributing money to Local Authorities for the funding of maintained schools. The EFA will also take on capital fund management responsibilities for all schools (previously undertaken by Partnerships for Schools which closes in March 2012).
The role of the EFA for Academies will include (but is not limited to):
- the calculation and notification of funding allocations and the payment of funding;
- financial monitoring and assurance;
- support for education providers on funding and financial matters; and
- ensuring general funding compliance.
Its capital responsibilities for Academies will include:
- project management of Framework Academy capital projects (including advice on the procurement of new premises); and
- supporting Academy converters.
Further information on the EFA can be found at www.education.gov.uk
If you have any queries, please contact partner Sarah Morrison on smorrison@littlejohnllp.com or manager Julia Croucher on jcroucher@littlejohnllp.com
