Financial Statement
The majority of the funding for the school comes from the general annual grant (GAG) which is received from the Education and Skills Funding Authority (ESFA). This is made up of:
- The school budget share which is calculated on the same basis as for maintained schools in the same local authority.
- The education services grant (ESG) protection if applicable
- A minimum funding guarantee that protects the school budget share. This means per-pupil funding will not fall by more than 1.5% compared with the previous year.
In addition, we receive the Pupil Premium Grant and the PE and Sport Premium Grant.
PE and sport premium
Most schools with primary-age pupils receive the PE and sport premium in the academic year, including:
- schools maintained by the local authority
- academies and free schools
- special schools (for children with special educational needs or disabilities)
- non-maintained special schools (schools for children with special educational needs that the Secretary of State for Education has approved under section 342 of the Education Act 1996)
- city technology colleges (CTCs)
- pupil referral units (PRUs provide education for children who can’t go to a mainstream school)
- general hospitals
The following types of school don’t receive this funding:
- nursery schools
- studio schools
- university technical colleges (UTCs)
- independent schools (except for non-maintained special schools, which do receive the funding)
Schools receive PE and sport premium funding based on the number of pupils in years 1 to 6.
Schools with 16 or fewer eligible pupils receive £1,000 per pupil.
Schools with 17 or more eligible pupils receive £16,000 and an additional payment of £10 per pupil.
Pupil Premium
The DfE allocates the Pupil Premium Grant to schools and local authorities the following amounts:
From April 2023:
- £1,455 per pupil for each Ever 6 FSM full time equivalent (FTE) pupil aged 4 and over in year groups reception to year 6, except where the pupil is allocated the LAC or post-LAC premium
- £1035 per pupil for each Ever 6 FSM FTE in year groups 7 to 11, except where the pupil is allocated the LAC or post-LAC Premium
- £2,530 per pupil for each post-LAC in year groups reception to year 11
- £320 for each pupil aged 4 and over in year groups reception to year 11 who is either Ever 6 service child FTE or in receipt of pensions under the Armed Forces Compensation Scheme (AFCS) and the War Pensions Scheme (WPS)
Audit
The Trust appoints an external auditor to conduct both termly and annual audits of the Trust Schools.
In addition, the Trust’s Chief Finance Officer conducts regular checks in each school to ensure that financial policy and practice is being adhered to consistently.
