Issue - meetings

Review of Schools Funding Formula 2015/16 (CE 14/15-45)

Meeting: 09/02/2015 - Cabinet Member for Safeguarding Children and Adults (Item 4)

4 Review of Schools Funding Formula 2015/16 (CE 14/15-45) pdf icon PDF 52 KB

That consideration be given to the Schools Funding Formula for 2015/16.

Decision:

That the 2015-16 Schools Funding Formula, as proposed by the Schools Forum, be endorsed.

Minutes:

The report set out the Schools Forum’s proposals for the 2015-16 Schools Funding Formula whereby all additional monies received in Dedicated Schools Grant are allocated through the Schools Funding Formula using the Age Weighted Pupil Factor (AWPU), that the current funding formula factors are maintained, and that the Council continues the rural proofing strategy for schools.

 

It was reported that the Department for Education (DfE) had announced additional funding for the 2015-16 Dedicated Schools Grant and this had been discussed and endorsed by the Schools Forum; the final formula had to be submitted to the DfE by 21 January 2015. The proposals maintained all existing formula factors at their current levels, including the amounts allocated for deprivation, basic Special Educational Needs (SEN) and lump sum. It was also proposed that the rural proofing fund continue to be supported for a second year; this allocated £150,000 to those small and rural schools which provided a hub for the community. This budget did not come from the DSG but was earmarked from within the Education strategy base budget.

 

The Government had published revised minimum funding levels (MFLs) and clearly stated its intention to move towards a National Funding Formula in the future, although not for 2015-16; the consultation findings on this had resulted in some changes to the proposals the initial consequence of which was that the Cheshire East allocation had increased from £4.7m to £5.7m. In the consultation the Government did make it clear that there was NO requirement on local authorities to use these MFLs, and schools should not assume they would be getting budgets calculated using these formula factor values.

 

The Schools Forum had also approved a new policy for clawback of surplus balances although Schools could create earmarked reserves to hold money for specific projects, which took that money out of the surplus balance calculation for clawback.

 

The Portfolio Holder thanked both the Schools Forum and Finance Officers for the work they had done in respect of the funding formula, and especially welcomed the retention of rural proofing. 

 

RESOLVED

 

That the 2015-16 Schools Funding Formula, as proposed by the Schools Forum, be endorsed.