News
Academy financial management and government evaluation (FMGE) returns - 2011-11-04
The Young People's Learning Agency (YPLA) has issued guidance on the completion of the annual Financial Management and Governance Evaluation (FMGE) return.
Academies preparing audited financial statements to 31 August 2011 (for submission to the YPLA by 31 December 2011) should submit the completed FMGE return by 29 February 2012.
New academies that are not yet required to prepare financial statements should submit the FMGE return by the relevant deadline set out in the table below:
|
Date of conversion / opening |
FMGE return submission deadline |
|
On or before 31 July 2011 |
31 December 2011 |
|
1 August to 30 September 2011 |
31 January 2012 |
|
1 October 2011 to 30 November 2011 |
29 February 2012 |
|
1 December 2011 to 31 December 2011 |
31 March 2012 |
|
1 January 2012 onwards |
Within 4 months of conversion / opening |
Academies should submit:
- an electronic copy of the completed FMGE return in Word format; and
- a scanned, signed copy of the Summary of Grades section;
to academiesfinancialmonitoring@ypla.gov.uk . Hard copy returns are not required.
The YPLA requires one return per academy trust. Therefore federations may choose to send just one return for the whole federation. However, federations may find it useful for their constituent academies to complete and submit individual returns.
There are two versions of the FMGE return, the full return and the summary return. The full return must be completed by:
- all federations;
- academies previously self-assessed or assessed by the YPLA with an inadequate overall rating for financial management and governance;
- any academy that has not previously completed an FMGE return; and
- any academy wishing to upgrade its overall rating for financial management and governance since the last round.
Academies that do not fall into any of these categories may choose to complete either the full return, or the summary return.
Further details can be found at http://www.ypla.gov.uk/academies/funding-and-finance/financial-monitoring-and-assurance/financial-management-and-governance/
For further details about academies please contact Sarah Morrison on 020 7516 2266 or email smorrison@littlejohnllp.com
