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Understanding your budget - heads and school business managers

Why do you receive your budget as it is?

The Funding Formula shapes the funding for maintained schools as well as academies. The characteristics of each individual school are applied to the formula creating each school budget.

How do you influence the debate with regards to budget share? 

The Schools Forum is a body made up of representative headteachers and governors, covering all phases and types of school, plus a representative of 14–19 partnerships and two PVI Early Years representative. Representatives from headteacher groups are elected to represent the views of schools; it is therefore important to attend headteacher meetings when these matters are discussed, as the representatives gather the views they are to represent. Officers from Herts County Council and Herts for Learning are part of the group. Observers are also able to attend the meetings, which are held at Robertson House in Stevenage.

The function of the Schools Forum is:

  • To be consulted on the Funding Formula
  • To be consulted on issues in connection with the Schools Budget
  • To be consulted on service contracts where the cost will be met from the Schools Budget
  • To determine a range of financial and budget matters affecting schools

All documentation is available via the link below:

Where can I get further information on my budget?

In Hertfordshire maintained schools have a Budget preparation guide, produced by the HfL Financial Services team, detailing all factors influenced by the funding formula and a budget treatment for each line.

A new guide will be published to accompany the budget 2016-17 with copies available on the Hertfordshire Grid for Learning or from Financial Services for Schools.

The Education Funding Agency (EFA) produces a financial handbook which applies to all academy trusts and free schools. It sets out the responsibilities and requirements relating to academy trusts’ financial governance and management.

> Balancing your budget

 

Contact

Herts for Learning
01438 843263