How are our Schools Financed...?

We recently attended a briefing on school finance by the local authority. While all the information presented is widely available, you have to know where to look and have the inclination to do so! So it was good to have it presented to us in a clear and concise way, particularly in a period of great financial challenge to both schools and local authorities. Funding is allocated and published to each school by a “budget share” which is calculated based on allowable factors set by the DfE. Allowable factors are things like deprivation and English as an additional language. The values and factors used are locally determined and agreed within a 'Schools Forum'. Minutes of recent meetings of this body can be found here: Schools Forum. The case for reform is clear as the current funding system is out of date and based on historic allocations from 2005 - clearly much has changed in the last 10 years. Factor in 150 local authorities making independent decisions and the system is in need of change. For your interest, here are a few of the many acronyms we have to 'master':

ABG – Area Based Grant
AP – Alternative Provision
AWPU – Age Weighted Pupil Unit
DFC – Devolved Formula Capital
DfE – Department for Education
DSG – Dedicated Schools Grant
EAL – English as an Additional Language
EFA – Education Funding Agency
ESG – Education Services Grant
EYSFF – Early Years Single Funding Formula
FSM – Free School Meals
SCC – Southampton City Council
IDACI – Income Deprivation Affecting Children Index
INMSS – Independent & Non-Maintained Special Schools
ISB - Individual Schools Budget
LA – Local Authority
LAC – Looked After Children
LSA – Learning Support Assistant
MFG – Minimum Funding Guarantee
NOR – Number on Roll
PRU – Pupil Referral Unit
SEN – Special Educational Needs
SBUF – School Block Unit Funding