Greenwich Council

Decision details.

Scheme for Financing Schools – Revision 2019

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No


Supported the following recommended changes to the Scheme for Financing Schools Appendix A and Appendix B.


·               Application of the scheme to the Royal Borough and maintained schools (SfFS 1.4)

·               Revision of the Scheme (SfFS 1.6)

·               Basis of Accounting (SfFS 2.2)

·               Notice of Concern (SfFS 2.21)

·               Budget Shares for Closing Schools (SfFS 3.5)

·               Bank and Building Society Accounts (SfFS 3.6)

·               Right to carry forward surplus balances (SfFS 4.1)


·               Agreed an amendment to 4.2 Reporting on and control of the use of surplus balances point 4 to read:


If the result of steps i-iii is a sum greater than 15% of the previous year’s budget share then the Royal Borough may deduct from the current year’s budget share an amount equal to the excess.


·               Obligation to carry forward deficit balances (SfFS 4.4)

·               Income from lettings (SfFS 5.1)

·               Provision of services from Centrally retained budgets (SfFS 8.1)

·               Right of attendance for the Director of Finance (SfFS 11.6)

·               Supply of Financial Information (SfFS 13.6)

·               Circumstances where a budget share of a school may be charged without the express consent of the governing body (SfFS Annex D paragraphs C3 and C21)

·               The Main Features of the Funding Framework (SfFS Annex H)


Approved consultation with maintained schools as required under the Department for Education’s regulations. The consultation period would be from 18 October 2019 to 28 November 2019.


Agreed to receive a further report at the next meeting scheduled for December 2019 to provide feedback from the consultation.


Publication date: 29/10/2019

Date of decision: 16/10/2019

Decided at meeting: 16/10/2019 - Schools Forum

Accompanying Documents: