Decision details

To seek approval for the funding formula for schools.

Deputy Leader of the Council (inc Children, Education & Young People's Services) AGREED to APPROVE the final funding formula for 2023/24 subject to the decision by the Secretary of State for Education regarding permission to transfer 0.5% (£2.38m) from the Schools’ block to support High Needs expenditure. Should there be a shortfall of funding, the Deputy Leader of the Council (inc Children, Education & Young People's Services) also AGREED to endorse the methodology of a % reduction in Age Weighted Pupil Unit (AWPU) to balance the funding

The final funding formula for schools and academies for 2023/24 needs to be formally approved politically before submission to the DfE by 20 January 2023. Schools Forum has been consulted in development of the funding formula for 2023/24 as a statutory consultee, but the decision on the final formula is made by the local authority. The decision this year includes the request made to the Secretary of State for permission to transfer 0.5% (£2.38m) from the Schools block to support High Needs expenditure. The decision on Schools Funding will therefore be made subject to the approval of the Secretary of State. The deadline to confirm school budget shares to maintained schools is 28 February 2023.

As per report.