The Learning and Skills Council (LSC) was a non-departmental public body jointly sponsored by the Department for Business, Innovation and Skills (BIS) and the Department for Children, Schools and Families (DCSF) in England. It closed on 31 March 2010 and was replaced by the Skills Funding Agency and the Young People's Learning Agency. History The LSC was established in April 2001, under the Learning and Skills Act 2000. It replaced the 72 training and enterprise councils and the Further Education Funding Council for England. In 2006 it had an annual budget of £10.4 billion. It was described as Britain's largest Quango. Until June 2007, it was sponsored by the former Department for Education and Skills (DfES). Economic mismanagement in college re-building In July 2009, the Public Accounts Committee described the LSC's handling of its college building programme as 'catastrophic mismanagement'. It resulted in a £2.7 billion debt, with 144 college building contracts having to be terminated abruptly, and leaving many colleges with huge financial penalties for breach of contract with civil engineering companies. 23 colleges have debts of more than 40% of their annual income, with some facing possible financial collapse. The re-building programme had renovated over half of England's colleges since 2001. Abolition On 17 March 2008 the abolition of the LSC was announced; funding responsibilities for 16- to 19-year-old learners were to transfer to Education Funding Agency and the Skills Funding Agency, which was created to distribute funding for adult learners in further education colleges. The Machinery of Government announcement heralded the end of the LSC, to make way for the Young Peoples Learning Agency and the Skills Funding Agency, reporting to DCSF and BIS respectively. These changes started in April 2009 and were completed by March 2010. Mark Haysom's resignation Mark Haysom CBE, the second chief executive of the LSC, announced that he was stepping down from his role on 23 March 2009 - taking accountability as Chief Executive for difficulties that the LSC had encountered with a college (PFI) rebuilding programme. He was replaced by Geoff Russell, formerly of accountants KPMG. Function The LSC was responsible for planning and funding further education (post-16 education and training other than higher education) in England. Initiatives Train to Gain in September 2006 Organisation National office The LSC had a national office in Cheylesmore House, Cheylesmore, Coventry, nine regional offices and 47 local Learning and Skills Council offices. The LSC's