How academies are funded
Learn how academies are funded, including how the general annual grant (GAG) works and what additional streams of funding are available.
As a governor, you don't need to understand the intricacies of how schools are funded or how funding formulae work.
However, the board is responsible for financial oversight of the school.
This overview will help you understand your school's financial position.
The national funding formula (NFF)
LAs determine your school's core budget using a local funding formula
The government uses the national funding formula (NFF) to work out your school's 'notional' core funding allocation. However, your school's actual allocation is based on a local funding formula from your local authority (LA) – this is the same system as for maintained schools.
But unlike for maintained schools:
This is explained