The Cabinet has considered an update on the key announcements made by the Department for Education (DfE) on the education funding settlement for 2023/24, and has:-
(1) Noted the details of the Education Funding Settlement for 2023/24.
(2) Approved the construction of the early year’s budget as per section 3.1 to 3.2 and the updated 2023/24 local funding formula for schools as outlined in sections 3.3. to 3.5 and detailed in the table(s) in section 6.2 which will form the basis of the calculation of school budgets and be notified to the DfE in accordance with statutory requirements.