Local authorities are required to publish schemes for financing schools, setting out the financial relationship between them and the schools they maintain. This is reviewed on an annual basis, in consultation with Schools and the Schools Forum.
Three minor changes have been made to reflect changes in timescales or clarifications made by the DfE in relation to
- the Schools Financial Value Standard (Section 2.16);
- borrowing by schools and IFRS (Section 3.6); and
- the treatment of licensed deficits (Section 4.9)
The latest updated guidance is available at: https://www.gov.uk/government/publications/schemes-for-financing-schools/schemes-for-financing-local-authority-maintained-schools
The proposed Scheme for Financing Schools with effect from 1 September 2020 is available HERE, with proposed changes highlighted in yellow.
Any comments should be sent to Bruce Parvin, Education and Skills Business Manager via firstname.lastname@example.org by 30 June 2021, ahead of the Schools Forum meeting to be held on 07 July 2021.