FINANCIAL UPDATE

1
FINANCIAL UPDATE

• LOUISE BURGESS
• PRINCIPAL ACCOUNTANT - BUDGET LM
• JUNE/JULY 2005

2
OUTTURN 2004-05

• Good school response to shorter closedown
  deadlines
• Increase in reserves for most STG schools as
  expected
• Also an increase in non-STG school reserves

3
OUTTURN 2004-05
4
MONITORING

• Committed balances up - uncommitted balances
  unchanged
• January monitoring - 37m reserves
• Late allocations, but..
• 3 year planning tool for budgeting/ monitoring
• Training

5
LOCAL FINANCE FORUMS

• Primary pilot currently underway in five Clusters
• Termly meetings for information exchange, best
  practice etc
• LEO/Cluster chair will be invited to attend to
  discuss specific Cluster business

6
LOCAL FINANCE FORUMS

• The aim is to establish
• A Primary Forum in each Cluster
• Three/four secondary Forums
• County-wide Special School Forum
• A County Bursar Group with Primary, Secondary
  Special representation from each Cluster

7
2006-07 CHANGES

• New school funding arrangements from April 2006
• Subject to current consultation
• KCC response in conjunction with Forum
• Decisions expected end of July

8
2006-07 CHANGES

• The proposals are
• Dedicated Schools Grant (including threshold)
• Three-year allocations
• Academic year budgets
• Continuation of minimum funding guarantee
• Merge Standards Funds (except LIG)

9
STG 2004-05

• All but seven schools out of deficit
• Possible 52 schools with over-allocations
• Follow initial plan and claw back funds where
  appropriate
• Opportunity for schools to meet with officers to
  explain additional funds and appeal process with
  Forum also in place

10
STG 2005-06

• 6.4m
• Plan developed in consultation with the School
  Forum
• Approved by DfES
• Aiming to get allocations out this term
• Queries to Simon Pleace 01732 525120

11
STG 05-06

• Priority 1
• Only applies to schools who received P1 funding
  in 2004/05, who could not implement all of the
  management action through circumstances outside
  their control.

12
STG 05-06

• Priority 2
• a) Special Measures/ Serious Weaknesses
• b) Infant class size legislation
• c) Small Secondary Schools with a 10 or
  greater falling roll
• d) Schools in Challenging Circumstances

13
STG 05-06

• Priority 3
• School Improvement initiatives
• Community development initiatives
• ICT developments