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Are you giving money you have earned back to the Skills Funding Agency for 2013/14?
Submitted on Fri, 12/09/2014 - 8:43am
If you are we may be able to help you increase the value of your funding claim - and reduce the amount of money you need to give back to the Skills Funding Agency.
We have identified more than £2m since 31 July 2014 that colleges were prepared to pay back but didn't need to!
As you know you need to ensure that you have maximised your funding claim in advance of the final ILR deadline for 2013/14 at the end of October - paying back money you have earned but not claimed at a time with such significant budgetary constraints is something you need to avoid.
Every £1 you manage to secure beyond what you have budgeted flows straight to the bottom line!
We have developed a 'no find, no fee' approach to reviewing your funding claim in a number of areas (not just the interrogation of your ILR return) which have already generated significant increases to a number of College funding claims.
Peter Roberts, Principal and Chief Executive of Leeds City College, recently commissioned such a review said of the service:
'The College data was telling me that there might be a shortfall in the achievement of our adult allocation. Having worked with Icca Education Training & Skills over a number of years on other projects we decided to let them have a look at our funding claim. This was to support our hard presses CIS staff who at the time simply had not got the time! It made perfect sense as the potential cost was a small percentage of whatever was additionally found - and nothing if we were already maximising our funding claim.
Whilst the Icca review found less than 1% of unclaimed funding this was worth £100,000 to the College which was a wlecome bonus.
I would recommend the review to any college who needs the reassurance that they are claiming for everything to which they are entitled. After all - you only pay a proportion of additional fundiing identified, which you wouldn't be claiming for anyway, and so it's a win-win situation!'
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