Applications for the restructuring facility have now closed.
Restructuring facility: progress to date
As at end September 2018
We have received 76 applications for the restructuring facility. This includes 30 applications from 31 sixth form colleges expressing plans to convert to academy status, the majority of which have not been allocated any funding to support this conversion. We have received 46 applications to support restructuring within the college sector.
23 applications which include funding to support restructuring have been approved to date. From the restructuring facility, up to 21 colleges have been approved to receive compensatory VAT funding if the liability arises and funding has been provided for transition grants.
The total allocation of restructuring facility funding is approximately £330m. Total spend so far is approximately £226m.
We have now published case summaries of providers that agreed restructuring facility funding prior to 31 December 2017 – for more information see Annex C in the guidance above.