How schools are funded

Find out the basics of how your school is funded, including what additional streams of funding are available, so you're clear on what elements make up your school finances.

Last reviewed on 5 September 2024See updates

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Core funding: mainstream academies
Core funding: special academies and alternative provision (AP)
Additional funding: all academy types
Other streams of funding

As a governor/trustee, 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.

How your funding is calculated Funding is based on the national funding formula (NFF)... ... But local authorities (LAs) determine your school's final core budget using a local funding formula. The process for this is: The Department for Education (DfE) uses the national funding formula to work out your school’s 'notional' core funding allocation, which it distributes to your local authority (LA) Your LA then applies its own local funding formula, through which it allocates your school's budget But unlike for maintained schools: Your LA will submit its local formula to the Education and Skills Funding Agency (ESFA), so the ESFA can issue academies allocation statements – as explained in the introduction of the ESFA funding allocation guidance Your funding

How schools are funded

Find out the basics of how your school is funded, including what additional streams of funding are available, so you're clear on what elements make up your school finances.

Last reviewed on 5 September 2024See updates

•Ref: 41151

Viewing article for

Contents

Core funding: mainstream academies
Core funding: special academies and alternative provision (AP)
Additional funding: all academy types
Other streams of funding

As a governor/trustee, 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.

How schools are funded

Find out the basics of how your school is funded, including what additional streams of funding are available, so you're clear on what elements make up your school finances.

Want to continue reading?

How schools are funded

Find out the basics of how your school is funded, including what additional streams of funding are available, so you're clear on what elements make up your school finances.

Want to continue reading?