Decision details

1.    The purpose of this report is to seek approval from the Shadow Executive for the proposed local schools funding formula, and agreement to other Dedicated Schools Grant (DSG) funded budgets as recommended by Schools Forum. This meets the requirement from the Department for Education (DfE) for political ratification of the local schools funding formula prior to the allocation of budgets to individual schools.

2.    The local authority works closely with the Buckinghamshire Schools Forum in developing proposals for the school funding formula and the other DSG budgets.

3.    The report also includes an update on the current DSG reserve and proposals for reduction of the deficit in 2020-21.

RESOLVED:

1.    To agree that the overall Dedicated Schools Budget should be set at the level of the allocated Dedicated Schools Grant (DSG) £472.25 million.

2.    To agree the proposed local funding formula for schools recommended by Schools Forum on 21^st January 2020 as follows:

a. Funding factors are 100% in line with National Funding Formula (NFF) values, including the national minimum per pupil funding level.

b. Minimum Funding Guarantee (MFG) set at +0.5%, with a cost of £186k for the funding protection in 5 schools, without the requirement for capping of gains in other schools.

c. No funding to be transferred to the High Needs Block

3.    To note the Central Schools Services budget proposed for 2020-21 with further savings required in future years in line with DfE funding reductions.

4.    To agree the High Needs budget proposed, including savings proposals, and agree that initial proposals for a recovery plan for the High Needs budget in future years be considered at the March meeting of Schools Forum

5.    To agree the Early Years budget proposed

6.    To agree the actions to reduce the deficit in the DSG reserve by £1.264m in 2020-21, with further proposals for recovery of earmarked reserves to be considered and agreed at future meetings of Schools Forum.