Guidance for sixth-form and further education colleges on preparing their annual report and financial statements (‘accounts’).
The college accounts direction sets out ESFA’s 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 ESFA by 31 December
- publish the accounts on the college’s website within 2 months of the date of approval
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.
This includes a requirement to submit a completed finance record for 2016 to 2017.
Submitting your accounts and associated documents
Colleges should submit the following documents to PRA.Financialhealth@education.gov.uk by 31 December and use the naming conventions below:
|Document type||File naming convention|
|Audited annual report and financial statements||UKPRN_FS_1617_college code|
|A scanned copy of the finance record cover sheet signed by the accounting officer||UKPRN_FRsigned_1617_college code|
|The unsigned finance record excel workbook||UKPRN_FR_1617_college code|
|External auditor’s management letter including the college’s response||UKPRN_ML_1617_college code|
|Annual report of the college’s audit committee||UKPRN_ACAR_1617_college code|
|Where appropriate, audited annual report and financial statements of subsidiary company accounts||UKPRN_FSsub1_1617_college code. Please amend the file name to sub2 etc. if submitting accounts information for more than one subsidiary|
|Any other supporting documents||UKPRN_[brief description]_1617_college code|
The subject field of the submission email should include the college name and ‘1617 Finance Record’. For further information or related queries, please contact the ESFA using the contact form below:
Contact form https://form.education...
For all enquiries for the Education and Skills Funding Agency
Colleges should refer to the following resources in preparing their accounts: