Issue - meetings

To consider a report of the Corporate Director for Corporate and Support Services.

The report provides detail on the individual school balances position reported at 31 March 2015 and the schools the LA will apply the excessive school surplus balance control mechanism to as per the updated Scheme for Financing Schools document.

Schools Forum members are asked to note the report.

Officer Contact: Peter Hughes on 0161 474 3947 or email peter.hughes@stockport.gov.uk.

A representative of the Corporate Director for Corporate and Support Services submitted a report (copies of which had been circulated) outlining the final detailed analysis of the total school balances position recorded as at 31 March 2015, and the details of the application of the excessive school surplus balance mechanism process applied to schools reporting a surplus balance above the 12% threshold level as per the Scheme for Financing Schools document.

It was reported that school balances at the end of the 2014/15 financial year had increased by £1.084m and total school balances as at 31 March 2015 were £12.658m.

As agreed by the Forum in April, schools were considered to hold an “excessive surplus balance” if the reported balance as at 31 March each year exceeds 12% of the total funding delegated to the school at the start of the financial year. This had been applied to all schools reporting a surplus balance as at 31 March 2015 above the threshold and they had been notified of the planned claw-back. Schools had until Friday 12 June 2015 to respond to the Local Authority with details of any exceptional circumstances as to why the claw-back should not be applied.

RESOLVED – That the report be noted.