Agenda item

Financing Schools - Reviewing the Funding Formula to Raise Standards

Minutes:

(Cllr. P.A.Rees re-affirmed his interest at this point and withdrew for this item only.  Cllr.D.W.Davies substituted.)

 

(Cllr.A.R.Lockyer re-affirmed his interest at this point and withdrew for this item only.  Cllr. D.Jones substituted.)

 

Cabinet Board was supportive of the addition to the recommendation from the Education, Skills and Culture Scrutiny Committee held prior to this meeting, which have been incorporated into decision below, as (d). 

 

Members asked that the review of the formula taking place prior to the 2019/2020 budget share allocation be reported back to Education, Skills and Culture Cabinet Board.

 

Decisions:

 

Having given due regard to the impact assessments approval be granted for:

 

a.      Option A as detailed in the circulated report to be the basis for funding primary school budgets for the 2018/2019 financial year;

 

b.      the withholding of financial benefits resulting from Option A to schools with reserves above the £75K threshold as at 31 March 2017;

 

c.       the methodology in the circulated report for the redistribution of withheld funds to schools with a reduction in their budget share allocation of more than £20K;

 

d.      the Director of Education, Leisure and Lifelong Learning (or his nominated representative) and the Director of Finance and Corporate Services in consultation with the Leader of the Council and the Cabinet Member for Education, Skills and Culture be granted delegated authority to make alternative funding arrangements where, specifically in relation to the £75K reserve threshold, the financial circumstances of individual schools warrant further consideration and that any use or refusal of an application be reported to the relevant Scrutiny Committee.

 

e.      a review of the formula prior to the 2019/2020 budget share allocation.  In addition, the results of the review to reported to Education, Leisure and Lifelong Learning Cabinet Board.

 

Reason for Decisions:

 

To enable the Council to comply with the formal requirements of the School Funding (Wales) Regulations 2010.

 

In addition, it will enable the Council to promote high educational standards and the fulfilment of every child’s potential and to meet the Council’s duty to secure efficient education in its area.

 

Implementation of Decisions:

 

The decision will be implemented after the three day call in period.

 

Consultation:

 

Consultation on the formula for funding primary schools took place between 16 October 2017 and 3 December 2017 as detailed in the circulated report.

 

 

 

 

Supporting documents: