Issue - meetings

Background:

This report set out details of the final Funding Formula for Mainstream Schools and Academies.

It was noted that Cabinet in October 2013 had considered details of the proposed funding arrangements for Medway’s Schools and Academies through the Dedicated Schools Grant. This followed consultation and initial consideration by the Schools Forum. Since then however, the Education Funding Agency had notified all local authorities of a late change to the funding formula data for 2014/2015. This change related to the funding of the Prior Attainment Factor for the primary phase and the report set out details of the implications of this.

It was noted that the Schools Forum had considered the issues relating to the funding formula changes and the options provided by the Education Funding Agency, as set out in the report. The Forum had recommended that a weighting be placed on the Year 1 results so that the ‘qualifying’ pupils were matched to the Year 2 – 5 results (Option B in the report).

Reasons:

The local authority is required to implement the funding formula changes from 2014-15 in accordance with the School and Early Years Finance (England) Regulations 2013. This is a Cabinet function.