Cabinet resolved to:
(i) Note the indicative allocation of Dedicated Schools Grant for 2023/24 as set out in section 2 of the report;
(ii) Approve the strategy for the main Schools funding block as set out in section 3 of the report;
(iii) Approve the proposed principles for the design of the LBBD Local Schools Funding Formula as set out in section 4 of the report and the consequent funding factors as set out in Appendix 1 to the report;
(iv) Approve the allocated funding and strategy for the three other funding blocks (High Needs, Central Services and Early Years) as set out in sections 5, 6 and 7 of the report;
(v) Approve the increases in the Early Years hourly rates, with the funding rate for three and four year olds increased to £5.21 per hour and for two year olds increased to £6.09 per hour; and
(vi) Delegate authority to the Strategic Director, Children and Adults, in consultation with the Strategic Director, Finance and Investment, the Schools Forum and the Cabinet Member for Educational Attainment and School Improvement, to approve the final 2023/24 school funding formula for submission to the Education and Schools Funding Agency.