Introduction by the Minister for Skills, Apprenticeships and Higher Education
Introduction by the Rt Hon Robert Halfon MP.
The leadership role that colleges perform in England’s skills system has never been more important. Colleges sit at the heart of their communities, working with employers to help learners realise their potential and to provide industry with the workforce needed to boost national prosperity.
The reclassification of colleges in November 2022 brought government’s commitment to the further education sector into sharper focus. It emphasised the need to provide colleges with certainty and support to transition to a new financial environment. We took immediate steps to provide support in the shape of the college capital loans scheme and the smoothing of funding profiles. This handbook aims to provide further support and certainty to the sector.
I want to thank all of those in the sector who worked with Education Skills and Funding Agency (ESFA) to produce this handbook. This process has resulted in a document that communicates the core requirements of financial management as part of central government and facilitates the sharing of best practice between colleges.
I hope that accounting officers, finance leaders, governors and governance professionals find this handbook a valuable resource for achieving high financial standards across the further education sector.
Minister for Skills, Apprenticeships and Higher Education