Issue - meetings

To consider a joint report of the Executive Councillors (Finance) and (Children & Young People)

The report provides an overview of the 2012/13 funding settlement for schools, provides an update on the key developments in school funding reforms, makes recommendations covering the schools budget and the local formula used to determine individual schools budget shares, outlines the key actions required before individual schools budget shares are released, timetabled for late March 2012 and outlines consultation activities with the School Forum, Head Teacher consortia groups and the Stockport Governors Association (GOVAS).

The Executive is recommended to:

·         Note the detail of the Schools Financial Settlement for 2012/13 and latest position on School Funding reform

·         Approve that no fundamental change be made to the local formula used to determine individual school’s budget shares for 2012/13

·         Invite the Schools Forum, in consultation with the Executive Councillor Children and Young People to:

·      determine the basis for the allocation of mainstreamed grants as detailed in 6.6

·      allocate any available headroom as detailed in 6.8

·         Approve the principles for the construction of the 2012/13 RSB budget set out in 6.7. and the specific recommendations detailed under the RSB review

·         Set the MFG at -1.5% to ensure schools have financial stability

·         Note the timetable required for individual schools to set their detailed budget and return to the Authority by the end of May.

Officer contact: Steve Houston/ Simon Finch, 0161 474 4000/ 4019, steve.houston@stockport.gov.uk / simon.finch@stockport.gov.uk

The Executive Councillors (Children & Young People) and (Finance) submitted a report (copies of which had been circulated) providing an overview of the 2012/13 funding settlement for schools and an update on the key developments in school funding reforms.

RESOLVED – That:

·         the Schools Financial Settlement for 2012/13 and latest position on School Funding reform be noted;

·         that no fundamental change be made to the local formula used to determine individual school’s budget shares for 2012/13;

·         the Schools Forum be invited, in consultation with the Executive Councillor (Children and Young People) to determine the basis for the allocation of mainstreamed grants as detailed in paragraph 6.6 of report and to allocate any available headroom as detailed in paragraph 6.8 of the report;

·         the principles for the construction of the 2012/13 Retained School Budget set out in paragraph 6.7 of the report and the specific recommendations detailed under the Retained School Budget review be approved;

·         the Minimum Funding Guarantee be set at -1.5% to ensure schools have financial stability, and

·         the timetable required for individual schools to set their detailed budget and return to the Authority by the end of May 2012 be noted.