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0136 2022/23
06/03/2023
Children and Young People
All wards
School Funding Arrangements 2023/24
School funding arrangements 2023/24.
To approve school funding allocations for 2023/24 in accordance with Department for Education requirements.
Schools are predominantly funded through a specific grant (the Dedicated Schools Grant) that is initially payable to local authorities. Local authorities are required to have a local school funding formula that allocates funding to schools on a consistent and transparent basis. The number of pupils on roll and the incidence of pupil deprivation are the two largest determinants of the amount of funding a school will receive as its annual budget share. Academy and maintained school budget allocations are calculated according to the same local school funding formula. In recent years, the government has implemented a number of funding changes as part of a phased introduction of a national funding formula (NFF) for schools. In the main, these changes have required local authorities to amend their local formulae to align them more closely with the NFF. The final phase of the NFF will be implemented from 2023/24. Local authorities are required to make further changes to their local formulae by ensuring they use the same formula components as the NFF and by moving the monetary value of each formula component at least 10% closer to the NFF. It is intended that the NFF will be fully implemented by 2027/28. For a number of years, the NFF has been used to calculate funding allocations at the local authority level. The final phase of implementation will not change the total level of funding that St Helens schools receive but individual school budget shares may increase or reduce in comparison with how much each school received through the previous (local) formula. The funding arrangements include protections to ensure that budget allocations meet or exceed minimum funding levels. Attached to this decision is the funding formula to be applied to St Helens schools for the financial year 2023/24. The Department for Education (DfE) has confirmed that the formula complies with regulatory requirements. Also attached are individual school budget shares for the financial year 2023/24, as determined by the funding formula. The formula was ratified by the Schools Forum on 12th January 2023.
Local authorities are required to apply the national funding formula for schools. The approach adopted is intended to minimise any funding volatility for individual schools.
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Please contact Greg Tyrer on 01744 671812
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