Local Authorities (LAs) are required (under Section 251 of the Apprenticeships, Skills, Children and Learning Act 2009) to prepare and publish a budget statement at the beginning of each financial year.
Purpose of financial statements
These budget statements are the prescribed means of informing schools and the public in general about the funding plans of the Local Authority
The copy of the statement that schools receive for that period is intended to provide a clear picture of the authority's planned spending:
- how much the Local Authority intends to spend on the Local Authority Budget outside the Schools Budget and other children's services;
- how much the Local Authority is proposing to retain centrally within the Schools Budget for school services;
- how the local formula is working to produce budget shares for each school in the Local Authority's area.
The main documents of the statement are summarised below:
- Local Authority Level information provides an overall picture of the funding being allocated direct to schools, the amount being spent on education centrally and the amount being spent on children's social care. Also included in this table are columns to assess the amount of funding that is being targeted to deprivation.
- School level information summary, this summarises the main formula funding elements and lists the budget share and the per pupil or place share in each school. Also included in this table is a row to provide additional information to show the amount of funding that is being targeted to deprivation.