Learning Pathway
Finance 2: understanding your school budget
Read time: 27 Minutes
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What you'll learn
Get to grips with some of the core funding streams for schools and trusts and understand what your senior leaders can spend the money on.
The pathway is suitable for all governors and trustees.
Read the articles below and then complete the assessment to test your understanding. If you feel confident in this topic already, you can skip straight to the assessment at any time.
Pathway overview
National funding formula: an overview (7 minutes)
This article will cover:
- What the national funding formula is
- Which factors affect the amount of money that schools receive
- What to ask your senior leaders about the funding, and what to look for in their answers
Funding for pupils with SEN (5 minutes)
This article will cover:
- What funding is available for pupils with special educational needs (SEN) in mainstream schools, special schools and alternative provision
- What a personal budget is for pupils with education, health and care (EHC) plans
Pupil premium: spending (4 minutes)
This article will cover:
- Your role in monitoring the pupil premium
- How your school can (and can’t) spend the premium
Devolved formula capital (DFC) funding (4 minutes)
This article will cover:
- What the DFC is and how it’s paid to maintained schools, academies and other eligible institutions
- How your school can spend the DFC funding
Primary PE and sport premium (7 minutes)
For schools with a primary phase only.
This article will cover:
- Who’s eligible for the premium
- How much schools get, and when they receive it
- What your school can (and can’t) spend it in
- How schools are held to account for spending
Assessment
Pass the short assessment to earn a certificate in this pathway.
Your certificate will automatically appear on your GovernorHub training record, where you can download it at any time.