Academies’ Funding Updates

Last week the Education Funding Agency (EFA) updated its outline academies funding arrangements for 2012/13, as payment of the 2012-2013 Additional Grant for Schools has now been authorised which will reach the relevant academies on 1 November.

The remittance advice with the payment will describe it as ‘PE Teachers Grant’.
The grant includes funding for the release of PE teachers, maths specialist teachers (MaST) and new opportunities: Advanced Skills Teachers (AST).

The EFA also updated its academies’ insurance pages and says that from the end of the 2012/13 academic year, academies can claim back the cost of their insurance premiums from the Education Funding Agency (EFA).

The EFA will make a payment provided that costs are appropriate and that the insurance policies have been obtained in line with Department guidelines. Academies must pay the insurers directly and will subsequently be reimbursed by the EFA.

Academies can submit claims online by filling out the claims form on the Department’s website and will be reimbursed in one lump sum, normally within one to two months of receiving the claim.

However, academies should note that all claims are subject to validation by the EFA and that these funding arrangements apply for academic year 2012/13 only. The deadline for claims under this system is 30 September 2013.

New arrangements for funding academies for insurance purposes will apply from 2013/14 and these will be that they will receive per-pupil funding, as part of their general annual grant (GAG).

Academies that receive 16-19 funding should also note that they must check the student number statement they have been sent and raise any queries or business cases they may have by the end of tomorrow – Friday 22 February.

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