As reported to the Cumbria Schools Forum on 18 January 2022, some revisions to the Cumbria LA Scheme for Financing Schools are required.
Any changes that are made to the LA Scheme for Financing Schools must be consulted with all maintained schools before being approved by the Schools Forum.
There is one directed revision from the DfE which relates to clarification of the treatment of school budget share advances for schools with their own bank accounts and a number of LA proposed additions and revisions which are summarised below:
The LA Scheme has also been updated to include the latest version of the School Financial Value Standard (SFVS). A summary of the main proposed changes to the LA Scheme are found at Appendix 1.
Headteachers, School Business Managers and Governors are invited to comment on the proposed changes by 11 February 2022.
The outcome of the consultation will be presented to the maintained schools forum representatives on 16 March 2022 and if there are no objections the revised Scheme will take effect from 1 April 2022.
The outcome of the consultation will be presented to the maintained schools forum representatives on 16 March 2022 and if there are no objections the revised Scheme will take effect from 1 April 2022.
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