The guidance and application forms are for further education colleges that:
- need to make major changes following an area review recommendation
- cannot fund it themselves
It’s not for sixth-form colleges - restructuring is part of the process of becoming an academy.
Applications for the restructuring facility have now closed.
Restructuring facility: progress to date
As at end April 2019
We have received 76 applications for the restructuring facility. Of these, 62 cases have been assessed and approved.
The 76 applications comprised 30 applications from 31 sixth form colleges expressing plans to convert to academy status, the majority of which have not had any funding committed to support this conversion; and 46 applications to support restructuring within the college sector.
Of the 62 applications assessed and approved, 36 include a commitment of funding to support restructuring. Of the remaining 26, 17 include a commitment of VAT funding only to meet VAT liabilities arising from the change of ownership of buildings and 9 relate to sixth form colleges conversions to academy status that did not apply for restructuring facility financial support and required a viability and sustainability assessment and approval to convert.
Total spend so far is £405 million. More than £5 million has been repaid to date. £40 million has been made available in 2019 to 2020 to support cases where it was essential that funding was provided to this timeline.
We have now published case summaries of providers that formally agreed restructuring facility terms by 30 November 2018. For more information, see annex C in the guidance above.