Purpose

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.

Content

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.