2014 Report details for project: FE Capital Investment Programme

Project name: FE Capital Investment Programme - there are 2 reports for this project: 2013, 2014
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Organisation: BIS (D3) - see all reports for this organisation
Report year: 2014 (data is from Sept 2013)
Category: Infrastructure - see all reports for this category
Description: To renew and modernise the FE College estate with modern, versatile buildings, facilities and industry standard equipment; through a well managed, benefit/value-focused programme; offering learners high quality learning environments in line with the FE College Capital Investment Strategy (December 2012) and Ministerial priorities
DCA (RAG): Amber/Green
DCA text: MPA RAG rating as at 30 September 2013 was Amber/Green. The programme is well established and operates using tried and tested systems, processes and arrangements. Ministers are supportive of the programme and the sector is fully engaged.
Start date: 2010-05-31
End date: 2015-09-01
Schedule text: The first MPA Annual Report in May 2013 stated the project end date as the end of the financial year for which funding is available. The end date shown this year 01/09/15 is the date by which the last of the programme funded projects will become operational
Baseline: £450.37m
Forecast: £450.37m
Variance: 0.00%
Variance text: Programme is currently forecasting a balanced budget. Following the SR announcements relating to the transfer of FE Capital to the Local Growth Fund which would restrict funding commitments to 2013-14 and 2014-15, the Agency are developing further initiatives to maximise investment in the sector in line with the published Strategy.
Whole Life Cost: £5,609.46m
WLCost text: Whole life costs include over 50% contribution from non government sources, including college reserves, borrowing and disposal proceeds. Since the first MPA Annual report in May 2013 the programme has received an additional £550m to invest across 13/14 and 14/15. At Q2 this additional funding had been allocated to colleges across a mixture of detailed applications and expressions of interest. The additional WLC is therefore made up of a combination of capital grant and college contributions.
Sourcefile: IPA_2014.csv

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Acknowledgement: GMPP data has been re-used under the Open Government Licence.