Issue - meetings

Report CEF20023

The report provided a directed revision from the Secretary of State regarding Schemes for Financing Local Authority Schools.

The Schools Forum noted the following directed revisions from the Secretary of State

Section 2.3: Submission of financial forecasts: From the 2021 to 2022 funding year each school must submit a 3-year budget forecast each year, at a date determined by the local authority, between1 May to 30 June.

Section 4.5: Planning for Deficit Budgets: Schools must submit a recovery plan to the local authority when their revenue deficit rises above 5% at 31 March of any year. Local Authorities may set a lower threshold if they wish. The 5% deficit threshold will apply when deficits are measured as at 31 March 2021.

Section 10 Insurance: Instead of taking out insurance schools may join The Secretary of States risk protection arrangement (RPA) for risks covered by RPA.

The Chairman highlighted that whilst schools were expected to provide a 3-year budget forecast each year, they were not provided with the same level of certainty over levels of funding received from central government.

RESOLVED: That the revised Scheme for Financing Schools be approved.