Issue - meetings

Final Funding Formula for Mainstream Schools and Academies 2015-2016

 

 

Meeting: 10/02/2015 - Cabinet (Item 6)

6 Final Funding Formula for Mainstream Schools and Academies 2015-2016 pdf icon PDF 41 KB

Minutes:

Background:

 

This report provided details of the final funding proposals for Medway’s schools and academies for 2015/2016.  Officers, working with the Schools Forum, had consulted with schools and academies on the 2015/2016 options and arrangements. It was noted that the Schools Forum had recommended these options and arrangements to Cabinet in October 2014, which were approved. Following this, the provisional funding formula was submitted to the Education Funding Agency (EFA) and was approved, subsequently, in December 2014. Final pupil numbers and the total funding available through the Dedicated Schools Grant (DSG) had been confirmed by government.

 

The Schools Forum met on 8 January 2015 and its final recommendations to Cabinet were set out in paragraph 4 of the report.

 

Decision number:

Decision:

23/2015

The Cabinet instructed officers to implement the new funding formula for schools and academies and approved the Final Funding Formula 2015-16, as set out in paragraph 4.5 of the report.

 

Reasons:

 

The local authority is required to implement the funding formula arrangements and changes from 2015-16 in accordance with the School and Early Years Finance (England) Regulations 2014. This is a Cabinet function.