Issue - meetings

Report ED18057

The Sub-Committee considered a report setting out information on all revenue and capital balances held by Primary, Secondary and Special maintained schools as at 31 March 2018.  The report also provided a comparison to the balances held at the same time in the previous year.

Balances were reported in accordance with the DfE Consistent Financial Reporting (CFR) Regulations. This was a framework for reporting income, expenditure and balances. It provided schools with a benchmarking facility for comparison between similar schools to promote self-management and value for money.

The average level of revenue balances, both committed and uncommitted, for Maintained Primary Schools stood at 9% of School Budget Shares, compared to 11% at the end of 2016/17, a decrease of 2%. Secondary School balances had also decreased by 3% to stand at 7%. Special School balances had increased from 8% to 10%.

All schools with balances in excess of 8% had been asked to complete a proforma detailing the reason for holding a high balance and their plans for reducing the balance in year.

In response to a question concerning the large balances that had built up at St Olave’s, the Interim Director of Education reported that one of the issues at St Olave’s was that of funds being held outside of delegated balances and it was in those funds that the impressive balances were sitting.

The Chairman noted that where balances in excess of 8% had been identified schools had provided good explanations for the high balance.

RESOLVED: That the report be noted.

Report ED18057

The Forum considered a report setting out information on all revenue and capital balances held by Primary, Secondary and Special Maintained Schools as at 31^st March 2018. The report also provided a comparison to the balances held at the same time in the previous year.

Balances were reported in accordance with the DfE Consistent Financial Reporting (CFR) Regulations. This was a framework for reporting income, expenditure and balances. It provided schools with a benchmarking facility for comparison between similar schools to promote self-management and value for money.

The average level of revenue balances, both committed and uncommitted, for Maintained Primary Schools stood at 9% of School Budget Shares, compared to 11% at the end of 2016/17, a decrease of 2%. Secondary School balances had also decreased by 3% to stand at 7%. Special School balances had increased from 8% to 10%.

All schools with balances in excess of 8% had been asked to complete a proforma detailing the reason for holding a high balance and their plans for reducing the balance in year.

No further questions or comments regarding the report were received from members.

RESOLVED: That the balances be noted.