When looking at school budgets, there are several terms you need to understand.
Schools receive both delegated and devolved funding:
- Delegated funding has no particular conditions on how the school uses it provided any expenditure supports the core purpose of the school. Small balances can be carried forward to the next financial year.
- Devolved funding is aimed at a specific purpose and may have conditions on how it may be used. Examples of devolved funding are ‘Pupil Premium’, which has to be used to improve the achievement of pupils eligible for free school meals or looked after by the local authority, and ‘Devolved Formula Capital Funding’ that has to be spent on long-term assets such as building or equipment.