CEC annual accounts 2017

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Since the dissolution of the Connexions framework for delivering CEIAG across England, the placing of the statutory duty upon schools to provide this provision and the establishment of the Careers & Enterprise Company to oversee this area of policy, the hardest thing to track and keep an accountable comparison record of has been the amount of public funds allocated by Government.

At the time of its passing, the annual £200m of funding that Connexions received was much used to highlight just how big of change was being planned by the then Government. Asking schools to fulfill the same level of provision while only retaining a £4.7m web and phone National Careers Service out of the Connexions pot was always going to be a test for resource levels.

The establishment of the Careers & Enterprise Company came with a slew of funding stream promises which were difficult to disentangle to find the overall package worth. Announcements in the budget gave (in political lingo) the spending envelope but, still, left out the detail for how the pie was to be split. It was also worth remembering during the period that the CEC was originally floated it was allocated a £20m start up pot but that it would then be fully employer funded.

Another piece of the jigsaw to complete the funding picture was filed in November 2017 as the Annual Report and Financial Statements for the year ended March 2017 for the CEC were filed at Companies House.

The audited accounts show that for the financial year ending March 2017, the CEC’s income rose to £14,732,430 from £6,204,509 the previous year and that this sum came solely from a Government grant for both years. For 16/17 this is actually less than the £19.5m set aside by the Government for the CEC but the “resource expenditure” was lower than expected.

The CEC is leasing its Clerkenwell Green offices no more than a year in advance (future lease commitments page 19).

The Statement also details that the number of staff is now up to 24 from 9 in 2016 as the Company has expanded its research and outreach teams (page 15). The wage bill of £1,335,319 means that the average salary for a CEC employee is a little over £55,000. Enterprise Coordinators will not be included in this as, I think, their wages come from the Local Enterprise Partnerships.

Elsewhere in the document, the Strategic and Directors reports outline the CEC plans and goals including it’s “ambition..to bring together the best technology to create a digital system for careers and enterprise activity” or Lord Young’s long mooted Enterprise Passport. Lord Young himself is a Director of the CEC and was one of the three on the Incorporation of “Enterprise for Education Ltd” as the organisation was originally named. £11m external funding has been “secured” for the Investment Funds program of researched provision while page 2 also boasts of another £15m of external funding being “leveraged” to “increase investment in the system.” These could also be public funds from Government or bodies such as LEPS.

Page 2 confirms that the CEC has been funded by the Government for 17/18.

As you can see, even with an end of financial year statement, finding a total amount of public funding being spent on CEIAG provision isn’t easy. Add to the sums mentioned in this document can be the funding for the National Careers Service, the Job Centre Plus work in schools, branding and promotion schemes such as YourLife or the Year of Engineering 2018 and you have a multitude of funding streams with changeable annual budgets. These type of documents are important though for they detail the actual expenditure of the CEC and not the canny accounting which can conjure up the figures in politicians speeches.

 

 

 

 

 

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