Education Finance - Schools Budget
About our service
We discharge the Council's statutory responsibility by financial management and reporting of the Dedicated Schools Grant (DSG), Pupil Premium Grant and other education funding.
The local authority sets and manages the Local Funding Formula for all schools in the borough, including academies and free schools. It also manages and distributes funding for all schools, including academies and free schools, for two to four-year-olds and for all children and young people with statements of educational need.
This is a statutory service, which is all council funded.
What we offer
- Strategic planning of the DSG in line with changes in legislation and the DfE's statutory School Finance Regulations
- Consulting with education providers and the Schools Forum on funding and the funding formula factors
- Calculating the budget allocations and budget shares and tracking High Needs pupils
- Publication of the annual Schools and PVI Budget Shares document
- Approving ratified budgets for maintained schools
- In-year monitoring and reporting of maintained schools' accounts
- Year-end closure of accounts; in-year closure of amalgamating schools and schools converting to academies; and consolidating maintained schools' accounts into the local authority's statement of accounts
- Paying the Schools Block DSG budget shares to maintained education providers
- Paying Early Years and High Needs Block DSG budget allocations to all education providers
- Paying Pupil Premium and other grants to maintained education providers
- Updating the local Model Schools Financial Regulations
Benefits of using our service
- Our service enables you to draw upon a team of highly experienced, qualified accountants who are specialists in education finance
- We handle the statutory reporting of education finance, leaving school leaders to concentrate on their day jobs
- We provide advice and support to all providers on all of our services
Jerome Francis, Accountant – Schools
School Finance Team
020 8496 6805
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