Devolved Formula Capital (DFC) is capital funding that is calculated on a formulaic basis for all maintained mainstream nursery, primary and secondary schools, special schools, pupil referral units (PRUs), sixth-form colleges, academies, free schools, studio schools, community technical colleges (CTCs), and university technical colleges (UTCs).
The purpose of the sixth-form college DFC is to provide each sixth-form college with capital funding to address its own priorities, including improvements to buildings and other facilities, including ICT, or capital repairs/refurbishment and minor works.
If there is any doubt about what constitutes capital expenditure for a particular item, the sixth-form college should seek advice from its external auditors.
All sixth-form colleges that were open as sixth-form colleges on 1 April 2014 will be paid DFC directly by Education Funding Agency. DFC for 2014 to 2015 covers the period from 1 April 2014 to 31 March 2015. The DFC does not have to be spent within the current financial year and may be carried over into the next financial year.
The DFC allocations have been determined by the following formula:
- £4,000 per college, plus
- £22.50 per 16 to 19 student and
- £22.50 per full-time equivalent post-19 student.
The calculation is based on the student numbers for 2013 to 2014. This calculation is slightly different to the way the student numbers and full-time equivalents were calculated in previous years.
Individual DFC allocations are listed in a spreadsheet published on the website.
All sixth-form colleges will be paid DFC allocations on 20 June 2014 as a direct single payment. The remittance advice will state ‘devolved formula capital’ and the sum paid.
Sixth-form colleges are expected to report through their governance and reporting procedures how they have used their allocation and do not need to report DFC expenditure to EFA.
If you have any questions about your DFC allocation, please send an email to: email@example.com