Costs, funding, the EU vote and college budgets (16 June 2016)

There is a belief in some quarters that colleges are not good enough at forecasting[1] though there is sometimes denial about the way in which government policy makes this more difficult. By now, colleges should have most of the information they need for 2016-17 budgets but there are some areas to watch for 2017 and beyond. A briefing note from AoC summarises key issues including the impact of national insurance, pension and minimum wage rises on total staff costs; items which may rise because of external events (for example energy prices and interest rates'; funding changes that are in the pipeline what a Leave vote in the EU referendum might mean for college funding AoC briefing note college financial plan assumptions june 2016.pdf AoC briefing note college financial plan assumptions june 2016.pdf (PDF,450.74 KB) There is more external scrutiny of college financial plans than ever. Resources for college financial plans including the spreadsheets, the handbook, a letter from SFA/EFA chief executive, an assumptions checklist and the latest version of the AoC briefing note are here