Five colleges have been issuedÌýwith notices to improve by the Education and Skills Funding AgencyÌýtoday.Ìý
Three –ÌýKensington and Chelsea College, East Sussex College Group and Gateshead College – have been issued withÌýfinancialÌýhealth notices to improve. Richmond upon Thames College received a letterÌýfrom the ESFA imposing additional conditionsÌýof funding that itÌýneeds to meet in order for theÌýESFA toÌýcontinue to provide funding, whileÌýHighbury College was told it had been escalated to formal intervention by the FE commissioner.
College notices to improve
In the letter to Kensington and Chelsea College, the ESFA said that the college hadÌýbeen assessed as having inadequate financial health following a review of the college’s 2017 to 2018 audited financial statements, finance record and subsequently submitted information.
Background: Three colleges warned over finances
²Ñ´Ç°ù±ð:ÌýFive colleges slapped with financial warnings
News:ÌýGrenfell: Troubled college to merge to 'secure' future
The college announced today it will merge with Morley College in February, and stressed the FE commissioner’s team undertook a finalÌýÌýrecently, highlighting the notable and tangible improvement to the atmosphere and culture across the college, and that college operations are "well led".
Richmond upon Thames andÌýEast Sussex College Group were also assessed to have inadequate financial health by the ESFA.
In the letter to Highbury College, the ESFA said that the FE commissioner's teamÌýrecognisedÌýthat the college hadÌýmade good progress in delivering many of the team's recommendations, but that there remainedÌý"significant concern" around the college’s leadership and governance –Ìýand this meant it had to beÌýescalated to formal intervention.
Gateshead College has been assessed as "experiencing serious cash-flow pressures", itsÌýletter said.Ìý
A spokesperson for ESCG said: "ESCG has implemented additional financial controls and introduced a new business planning process for this year to ensure weÌýimprove our financial health andÌýsecure at least 'requires Improvement' for our financial health score with the ESFA in 2019-20 and 2020-21."
Meanwhile, the ESFA closed three financial notices to improve today:ÌýHavering College of Further and Higher Education, Coulsdon Sixth Form College and Easton and Otley College.Ìý
Ìý
