EFA e-bulletin for academies: 13 November 2014
Updated 14 November 2014
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1. Action: submitting your academy trust’s accounts
All academy trusts incorporated before 1 March 2014 must submit audited accounts for the period ending 31 August 2014 to EFA by 31 December 2014.
Education Funding Agency (EFA) has published a guide to submitting your trust’s audited accounts.
You should read this guide before submitting your accounts, as the process has changed. You will need to complete a short online form that asks for key information from your accounts, and upload the accounts to the document exchange area on the EFA Information Exchange.
This 2-part submission is the first step towards fully automating the collection of audited accounts. The submission process should be straightforward and will result in benefits for all. The new online form will help us to provide trusts with more timely feedback and to direct our resources towards supporting trusts facing the greatest risks.
Additionally, you must tell us if your accounts are likely to be qualified or your auditor will be raising exceptions by emailing the Academies Enquiries Service at the earliest opportunity, quoting ‘submitting audited accounts’ and your academy trust’s name in the email title:
EFA questions
Contact form https://form.education...
For schools, local authorities, other education institutions and providers, accountants, auditors and other professional advisers with queries for the Education Funding Agency
2. Information: amendment to the pensions note in the Academies Accounts Direction
We have published a short document setting out an amendment to the pensions and similar obligations note in the 2013 to 2014 Academies Accounts Direction.
The pensions note includes enhanced disclosures reflecting the latest valuation of the Teachers’ Pension Scheme (TPS)
While trusts are not required to amend their financial statements due 31 December 2014 to include the enhanced disclosures, we encourage trusts to do so where practicable. The amended note does not affect any balances in the financial statements.
3. Action: submitting your academy trust’s value for money statement
All academy trusts open on or before 31 August 2014 need to submit their value for money statements to EFA by 31 December 2014. This year, submission is through an online form, which covers the same information as last year’s Microsoft Word template.
We have published a guide to submitting your value for money statement, which explains how to access and submit the form. If you have already submitted your statement for the period ending 31 August 2014 using the previous template, you do not need to re-submit using this form. However, from 13 November onwards, trusts will need to use the online form and the Word template will no longer be available.
4. Information: Condition Improvement Fund (CIF) loan calculator
We have added a loan calculator to the Condition Improvement Fund (CIF) page on GOV.UK for academies and sixth-form colleges thinking of taking out a loan as part of their CIF proposal.
There is still time to register for the CIF webinar at 2pm on Monday 17 November.
5. Information: how to use the EFA Information Exchange
We’ve uploaded a short video to introduce the EFA Information Exchange and to help you get started with using it. You can see instructions on how to log on to the Information Exchange via the Department for Education Secure Access portal on GOV.UK.
You can view the video here.
6. Information: visit us at the Academies Show on Wednesday 26 November, Birmingham NEC
Come and visit us at the Academies Show on Wednesday 26 November 2014 at Birmingham NEC.
We look forward to meeting visitors on stand 480, as well as at the various conference and workshop sessions to which EFA is contributing.
7. Information: protection of school playing fields and public land
We have updated our advice on the protection of school playing fields and public land.
The changes will be of interest to local authorities, governing bodies, foundation bodies, trustees, diocesan authorities, voluntary bodies, academies and sports organisations.