Agenda item

There had been only three responses to the Scheme for Financial Management consultation and it was queried whether a fair representation had been received. Those maintained schools that had responded to the consultation had shown a preference for the Cash Advance only option.  It was requested that it be written into the Scheme that there was a need for Schools Forum to consider this on an annual basis and that there should be involvement in discussions from maintained school members.  All maintained representatives agreed and Susan Woodland confirmed this would be included to support maintained schools’ input in discussions.

It was noted there was the intention to increase budget monitoring in order to add more assurance against schools going into a deficit situation.

It was added that some further minor changes had been made to bring the Scheme in line with the DfE system.

It was asked whether Schools Forum would have oversight of any recovery plans, to ensure funding was being used appropriately, and that it would be useful for maintained Schools Forum members to be kept informed of any dialogue with the LA.  It was felt awareness was needed, but there was no requirement for a formal report to be presented to Schools Forum. An update should be made at the next meeting of Schools Forum to highlight any amendments and to allow a regular update.

The inconsistent amount in paragraph 2.10.4 of the Scheme was queried and Susan Woodland explained that the £20,000 amount quoted had been a historical LA decision, whereas the DfE had quoted £15,000 minimum. It was suggested there might be further discussion about the £20,000 which could possibly be consulted upon. Under paragraph 2.10.2 there was a £60,000 limit which was as per the DfE scheme. 

It was confirmed that, as per the document, if a primary school should go over the good practice balance threshold quoted of 5%, the total amount outstanding had to be explained through supporting evidence.

Schools Forum APPROVED the Scheme for Financing Schools, which included the licensed deficit scheme on a cash advance basis, allowing an advanced payment to be drawn on a school budget share and deductions made in later months to enable time for the budget deficit to be addressed by the school.