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College accounts direction
Guidance for sixth-form and further education colleges on preparing their annual report and financial statements (‘accounts’).
The college accounts direction sets out the Skills Funding Agency (SFA) and Education Funding Agency (EFA) financial reporting requirements for sixth-form and further education colleges.
The accounts direction outlines the requirements for each college to:
- prepare accounts to 31 July
- submit the accounts and associated documents to SFA/EFA by 31 December
- publish the accounts on the college’s website within two months of the date of approval
The accounts direction is updated by SFA/EFA each year.
College accounts direction 2016 to 2017
Colleges must refer to the college accounts direction 2016 to 2017 when preparing their accounts for all periods commencing on or after 1 August 2016.
SFA/EFA plan to publish the finance record template for 2016 to 2017 in due course.
College accounts direction 2015 to 2016
The college accounts direction 2015 to 2016 sets out the financial reporting requirements for colleges for the year ending 31 July 2016.
This included a requirement to submit a completed finance record for 2015 to 2016.
Colleges should refer to the following resources in preparing their accounts: