Academies Capital Maintenance Fund Now Open

The initial application round for the Academies Capital Maintenance Fund (ACMF) 2013-14 is now open and all academies that are open by or on 1 January 2013 are eligible to submit an application for up to two projects, which can either be about tackling building condition issues or expanding provision.

The deadline for submitting applications, which must be made online only, is 6.00pm on Tuesday 18 December 2012, for academies converted before 30 September this year, and 6.00pm on Friday 1 February 2013, for academies converting after 30 September 2012.

Academies are encouraged not to leave submission of applications to the final few days and the Department for Education’s (DfE) guidance has been published now to give academies the time to work up their projects in more detail before the Education Funding Agency’s (EFA) Capital Portal opens during week commencing 19 November.

The sort of detail encouraged on the applications is for the Academies to get quotes or complete an options appraisal for projects.  The better the quality of the application, the more likely the academy is to get the funding.

Projects that have been rejected can be applied for again, although since recent demand has outstripped available funding, academies should consider how they can improve the quality of their application before they resubmit.

In line with arrangements for 2012-13, the majority of the fund will be allocated following this initial application round.  However, a contingency fund will be withheld to address urgently arising projects on a case-by-case basis over the course of the year. The remainder will be allocated in one or more further rounds to be announced later in 2013.

It is intended that successful applicants from this round will be notified by Friday 5 April 2013.

As an accountant, Gill Freeman specialises within academy finances and charity tax.

Posted in News.