The Secretary of State for Education Justine Greening announced details of the new national funding formula for schools (external link).
This is the outcome of the second stage of the consultation, which closed in March, and follows July’s announcement(external link) of £1.3 billion additional funding for the core schools budget in each of the next two years.
Key points from this week’s announcement include:
- funding will be distributed via local authorities for both of the next two years;
- the DfE’s formula will provide for secondary schools to receive a minimum of £4,600 per pupil in 2018/19 and £4,800 per pupil in 2019/20, while primary schools will receive £3,300 per pupil in 2018/19 and £3,500 in 2019/20;
- every school will receive a £110,000 lump sum and an additional £26 million will be allocated to rural and isolated schools;
- every school will see a minimum cash increase of 1% by 2019-20 and many schools will see larger increases;
- an increased emphasis in the formula on low prior attainment.
More details are available on the Department for Education’s website (external link) including tables where you can see how your school’s budget (external link) would be calculated under the national funding formula (NFF). Governors and trustees need to remember that as funding for the next two years will be calculated according to Haringey’s formula agreed by the Schools Forum.