Decision details

The Cabinet will be provided with an update on the school funding position in the light of the new funding regime and asked to approve the Dedicated Schools Budget (DSB) strategy and the local school funding formula for 2024/25.

Cabinet resolved to:

(i)  Note the indicative allocation of Dedicated Schools Grant for 2024/25 as set out in section 2 of the report;

(ii)  Approve the strategy for the Dedicated Schools Budget as set out in section 3 of the report;

(iii)  Approve, subject to consultation with Schools and the Schools Forum, the proposed principles for the design of the Local Schools Funding Formula as set out in section 4 of the report;

(iv)  Note the allocated funding and strategy for the three other funding blocks as set out in section 5 of the report;

(v)  Approve the increases in the Early Years so that the funding rate for three and four year olds is increased to £5.15 per hour and that for two year olds is increased to £6.09 per hour; and

(vi)  Delegate authority to the Strategic Director, Children and Adults, in consultation with the Strategic Director, Resources, the Schools Forum and the Cabinet Member for Educational Attainment and School Improvement, to approve the final 2024/25 school funding formula for submission to the Education and Schools Funding Agency.