These masterclasses have been designed, following feedback from members, to provide new Principals and Vice Principals with detailed sessions on key aspects of the complex world of FE finance. The series is made up of five sessions and participants can attend any or all of them.

All sessions will take place online from 8.30-10am, to fit in with busy workloads.

The sessions will be delivered by Andrew Tyley, an experienced FE finance specialist and consultant and Deputy FE Commissioner.

Module one: The Role of the Accounting Officer
Thursday 22 April 2021

• Overview of FE Finances
• Key responsibilities of the accounting officer
• What you should expect from your finance lead
• What you should expect from your governors
• Key sources of assurance and support
• Early Warning Signs

Discussion point: Do you recognise any of these warning signs?

Module two: Interpreting Management Accounts
Thursday 29 April 2021

• Good/poor practice
• Detail vs big picture
• Review, challenge and follow-up
• Technical skills vs common sense
• Key warning signs
• Links to other sources of evidence

Module three: Cashflow Forecasts / Loans
Thursday 6 May 2021

• Why cash matters
• Cashflow forecasts – what to look out for
• Managing cash pressures/shortfalls
• Practice to avoid / common
• Insolvency regime / Education Administration
• Loan covenants – monitoring / resolving breaches

Module four: Financial Health / FE Benchmarks
Thursday 13 May 2021

• What are the ESFA’s financial health indicators
• Recent / imminent changes
• Why are FEC benchmarks different?
• Worked example
• Why are financial health scores important?
• Factors likely to damage financial health grades
• Moderation – pros and cons

Module five: Capital Projects / Finance
Thursday 20 May 2021

• What constitutes capital spending
• Key sources of capital finance (grants, loans, leasing, joint projects, receipts from disposals)
• Risks, issues and mitigations with capital finance
• Typical causes of failure and lessons learned