Issue - meetings
Funding Formula for Mainstream Schools and Academies 2015/2016
Meeting: 28/10/2014 - Cabinet (Item 8)
8 Funding Formula for Mainstream Schools and Academies 
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Minutes:
Background:
This report provided details of the proposed funding arrangements for Medway’s schools and academies through the Dedicated Schools Grant following consultation and initial consideration by the Schools Forum on 8 October 2014.
The report detailed the government’s reforms to mainstream schools and academies since 2012 and specifically explored the implications of the latest changes relating to sparsity factor (aimed at small rural schools and academies) and lump sum arrangements for amalgamated schools and academies.
It was noted that the deadline for notifying the Department for Education of the provisional funding formula was 31 October 2014. The final allocation would be based on actual pupil numbers from the autumn census and the data released by the Department fro Education in December 2014.
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Decision number: |
Decision: |
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181/2014 |
The Cabinet instructed officers to implement the 2015-2016 funding formula for schools and academies as follows: a) To continue to cap the gains from the funding formula at 1.5% per pupil, as set out in paragraph 2.9 of the report. b) To continue to use the tapering method up to a maximum of £100,000 for the Sparsity factor, as set out in paragraph 3.5 of the report. c) To continue to support amalgamated schools and academies with a Lump Sum for one year, as set out in paragraph 3.8 of the report. d) To use the funding factors listed to balance the total allocated through the funding formula back to the funding actually received from government via the Dedicated Schools Grant (DSG), as set out in paragraph 4.3 of the report. |
Reasons:
The local authority is required to implement the funding formula changes from 2015-16 in accordance with the regulations and to inform the Education Funding Agency of the formula by 31 October 2014.