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Funding Update for Finance Forums

Funding Update for Finance Forums. 2013-14 Year End. Year end revenue balances of £15m across all school sectors An increase of £1.5m on the previous year Very few schools individually have an excessive balance but those who do will be required to provide the reasons. 2013-14 Year End.

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Funding Update for Finance Forums

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  1. Funding Update for Finance Forums

  2. 2013-14 Year End • Year end revenue balances of £15m across all school sectors • An increase of £1.5m on the previous year • Very few schools individually have an excessive balance but those who do will be required to provide the reasons

  3. 2013-14 Year End • Danger that the increasing level of revenue balances will not help Cambridgeshire’s ongoing campaign for an increased level of fair funding

  4. 2015-16 Funding Consultation • Minimum per pupil funding levels for schools at a LA level • Proposed Schools Block per Pupil Funding = £4,225 • £275 per pupil increase for Cambridgeshire

  5. 2015-16 Funding Consultation • This does not address the immediate funding issues some schools are facing for the 2014/15 financial year • When final 2014/15 data is available the DfE may review the minimum funding levels and it is possible some local allocations may vary in order to fit within the envelope of funding available • The increase in per pupil funding each school will receive will be varied based on individual circumstances. However, schools are unlikely to see a £275 per pupil increase within their individual budgets

  6. 2015-16 Funding Consultation • Pressures on High Needs and Growth (including new schools) will also need to be funded from this overall increase • Those schools in receipt of MFG funding in 2014-15 are unlikely to see as large an increase and need to bear this in mind when forecasting 2015-16 funding

  7. Capital Funding • Priority Schools Building Programme 2 (PSBP) • DfE announced 1st May capital expenditure of around £2 billion covering 2015-2021 • Aimed at addressing the needs of some of the worst condition schools in the country

  8. Capital Funding • Local authorities, dioceses & academies will be able to submit expressions of interest for entire school sites or individual buildings • DfE anticipate the bar for inclusion to be high to ensure resources are targeted on those schools in the very worst conditions • Expect expressions of interest for a small number of high priority schools

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