Schools Funding
Schools are funded through a direct grant from the government
known as the Dedicated Schools Grant (DSG) which is managed by the
Local Authority on behalf of Schools Forum. The
Schools' Budget is a term used to bring together both individual
school's budgets (called the ISB) and funding retained to support
pupils in education settings (Centrally
retained).
The Scheme of Financing for Schools sets the rules and
regulations within which schools operate financially and a funding
formula is used to distribute funding to schools based upon a
number of different factors. The formula used
includes allocations for pupils with Special Educational
Needs.
Under section 52 of the Schools Standards and Framework Act
1998, Local Authorities are required to provide a budget
statement before the beginning of each financial year and a
statement which shows actual expenditure at year
end. The statements submitted to the DCSF
(Department for Children, Schools and Families) are as follows
-
Section 52 Budget Statement
From 2008/09, this statement covers budgets for the whole of
Children's Services. It is split into 3 broad
areas in Table 1
- Individual Schools Budget (1.0.1 to 1.0.9) this is the funding which is delegated directly to schools (see table 2 for details of how the budget has been constructed for individual schools). This is funded from the DSG.
- Centrally Retained Schools Budget (1.1.1 to 1.7.2) funding retained to support children in education settings including special education needs, education out of school and early years provision. This is funded from the DSG.
- Children's Services Budget (2 to 6.2.1) all other services provided by Children's Services. This is funded through a combination of direct grant and council tax.
Prior to 2007/08, this statement only covered education spend
only (i.e. excluding Social Care and Youth
Offending).
Outturn (End of Year Statements) (Section 52)
This outlines how the funding available for education
provision has been spent and includes any year-end balances
unspent/overdrawn. Please note that this
statement does not include Social Care or Youth Offending
services.
If you require further information on these statements, please
contact Jonathan Lewis (Jonathan.Lewis@peterborough.gov.uk)