New £17m Trust Capacity Fund to help trusts grow announced by the Department for Education
The Department for Education (Dfe) has just announced a new capital fund to support trust growth and development across England.
The fund, also known as the trust capacity fund or TCaF in short, has made £17 million available for eligible trusts. The fund is available to multi academy trusts (MATs) wishing to grow further and accelerate their development.
The TCaF will be split in 4 strands:
A1: supporting strong MATs to grow and innovate
A2: supporting strong trusts to help improve weaker maintained schools or adding vulnerable academies to the trust
B: accelerating the development of mid-sized trusts
C: creating new strong trusts
Although each strand will have different eligibility criteria, they will all be dependent on the metrics below:
English Baccalaureate (EBacc)
The maximum amount of funding available for each strand is currently as follows:
A1 – Grant value range £50k - £310k
A2 – Grant value range £50k - £200k
B - Grant value range £20k - £150k
C – Grant value range £20k - £100k
The Dfe has also launched a trust capacity fund eligibility checker to help trusts ascertain whether they would qualify for part of the £17m made available. To find out more, please click here.
Application forms and additional guidance documents will be published in August, with applications open from September to December 2019. According to the Dfe website ‘awards will be made in conjunction with growth approved by regional schools commissioners (RSCs).’
As the most successful academy estates funding agency in the UK, with over £50m of Condition Improvement Fund (CIF) secured in the past 2 years and having delivered over 700 capital projects, Surveyors to Education are best placed to help you not only achieve the highest funding available for your projects but to also deliver these on time and in full, time and time again.