Phil Reynolds FCCA MAAT ACA
- Audit and Assurance, Senior Manager and Specialist in Academies and Education
- +44 (0)330 124 1399
- Email Phil
The DfE have announced the launch of the 2019-20 Selective Schools Expansion Fund (SSEF) which is designed to help support the expansion of selective schools where:
The SSEF is dedicated capital funding of up to £50m in 2019 to 2020 and the deadline for submitting applications is noon on 23 April 2019.
Those that wish to apply must:
Proposals must be for the enlargement of the physical capacity of a school’s buildings and must also increase the school’s published admission number(s).
If you are a Trust looking to submit an application one of the key factors in ensuring you are successful is to show there will be a significant (and affordable) contribution from other sources or via a loan. These (other than loans) will also have to be secured. Loans cannot be for more than 10 years and attract a different rate of interest depending upon the repayment period.
Other factors to consider include:
A copy of the guidance, application form and repayment calculator can be found here.
Make sure you download your complimentary copy of Kreston’s Academies Benchmark Report 2019 here: http://eepurl.com/ge8wvr
This year the report includes over 350 Trusts representing nearly 1000 schools and is based on those Academies that prepared financial statements for the period ended 31 August 2018 and which were audited by member firms of Kreston UK.
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