The Department for Education (DfE) have published details, including individual school allocations of the additional £400 million capital funding announced by the Chancellor in the 2018 budget – you may recall the reference to the “little extras”. The funding must be spent on capital, this may include improvements to buildings, equipment and other facilities including IT. The DfE have indicated it is intended for use in 2018/19 however in line with usual Devolved Formula Capital (DFC) rules, it can be spent in the following 2 financial years.
Further information and details of individual school allocations is available at the link below:
For further details please contact Alan Culling, Senior Accountant, Corporate Finance via Alan.Culling@northumberland.