Issue - meetings
Provisional Funding Formula for Mainstream Schools and Academies 2020/2021
Meeting: 17/12/2019 - Cabinet (Item 10)
10 Provisional Funding Formula for Mainstream Schools and Academies 2020-2021 
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Additional documents:
Minutes:
Background:
This report provided details of the 2020-21 funding arrangements for schools’ and academies’ and set out proposed changes to Medway’s mainstream schools and academies provisional funding formula, following consideration by the Schools Forum on 6 November 2019.
The report stated that the financial modelling had been built using the October 2018 census data but the final budgetallocations would be based on actual pupil numbers from the Autumn census in October 2019, which was due to be released by the Department for Education in December 2019.
The Schools Forum’s recommendations were detailed in paragraph 4.2 of the report, which represented a staged move towards option ii (to adjust and match the unit costs attached to each of the funding factors used within the Local Funding Formula to the National funding rates with the exception of the lump sum).
Supplementary Agenda No.2 provided details of the unit costs for the funding factors for years 2019/20 and 2020/21.
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Decision number: |
Decision: |
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160/2019 |
The Cabinet agreed to instruct officers to implement the 2020-21 provisional funding formula, as detailed in paragraph 4.2 of the report, and to note that the Schools Forum, on 15 January 2020, will recommend approval of the final funding formula to Cabinet. |
Reasons:
The Local Authority is required to implement the funding formula changes from 2020-21 in accordance with the regulations and to inform the Education Skills Funding Agency.