ITEM EX7 

EXECUTIVE - 11 DECEMBER 2001

VARIATIONS IN SUMS AVAILABLE FOR DELEGATED SCHOOL BUDGETS

Education Committee Medium Term Financial Plan			ANNEX 1	
				
	Agreed Plan     (Feb 01)      2002/03	Revised Plan    (at Nov 01) 2002/03	Variation	
	£'000	£'000	£'000	
				
Base Budget	247,133	247,133		
				
Inflation				
Full Year Effects	53	202	149	
Inflation to Outturn Prices 	7,455	7,053	-402	
Total Inflation	7,508	7,255	-253	
				
Abnormal Inflation				
Home to School Transport		188	188	
Out County Recoupment		102	102	
Paramedical Services		16	16	
Total Abnormal Inflation		306	306	
				
Allowed Variations				
Demography	1,495	1,305	-190	
Teachers' Pension Fund	1,023	1,156	133	
Overspend in 2000/01	-1,110	-1,110		
National Insurance Savings	-91	-91		
Agreed Policy and Budget Plans	1,211	1,211		
Transfer of Early Years Functions from Social Servs		-412	-412	
LSC Income 		-17,249	-17,249	
Total Allowed Variations	2,528	-15,190	-17,718	
				
Variations reported to S&R (Sept 01)				
Contribution to Standards Fund		400	400	
LSA's - New Pay and Conditions		529	529	
Teachers Pay Award (0.5% above 3%)		838	838	
Increments		100	100	
Knock-on effects of CO's Pay Award		100	100	
Structural Professional Assessments		55	55	
Total Reported to S&R Cttee		2,022	2,022	
				
Central Variations				
BVACOP adjustments		277	277	
Rates		-40	-40	
Office Accom		69	69	
Staff Housing/Composite Sites		-7	-7	
Support Services		23	23	
Insurance		21	21	
Total Central Variations		343	343	
				
2001/02 Pressures Impacting on 2002/03				
& Unavoidable Pressures in 2002/03		1,542	1,542	
				
New Statutory Duties		177	177	
				
Growth Available	4,755		-4,755	
Additional funding to VI Forms via LSC		1,865	1,865	
Savings to be identified to balance to SSA		-540	-540	
Total Growth Available	4,755	1,325	-3,430	

Total Budget	261,924	244,913	-17,011