reserves | Schools Week

Covid savings fuel record turnaround in maintained school finances

Lower energy and exam costs saved schools millions during lockdowns

Investigate trusts amassing ‘substantial reserves’, watchdog tells DfE

A report found mainstream school finances had “held up well” in recent years, despite austerity cuts and other funding pressures

Small academy trusts told to use reserves to fund urgent safety repairs

The government has warned small academy trusts and sixth form colleges they will be denied funding for urgent health and safety repairs if they could use their own reserves instead. The Department for Education published revised guidance on “urgent capital support” (UCS) funding today, tweaking eligibility rules. The UCS pot is earmarked for “urgent condition […]

Academy trust raids £7.7m reserves to resist cuts

An academy trust has set aside half of its reserves to prop up its budget rather than make cuts to balance its books. Trustees at Southfields MAT used £1 million from its reserves last year as a “contribution” to the budget of Southfields Academy, and plan to use another £3 million until 2020-21. Reserves will […]