Purpose

To decide on the school funding formula for schools for 2024-25 in line with DFE guidance on formula changes.

Decision

1. To follow the formula set out in the report, adopting the new methodology of the National Funding Formula (NFF) and to utilise the factor values provided by the DFE, providing the resources are available.
2. That should resources not allow the funding of the formula factors in full that a proportionate reduction of all allowable factors is made to reduce the allocations to fit the resources available.

Reasons for the decision

The Local Authority is continuing to mirror the National Funding Formula (NFF) as prescribed by the DFE. This approach has been followed for several years in line with the desires of both maintained schools and academies.

The approach will ensure that school funding allocations are as close to the NFF as possible so that when the DFE take control of the formula decisions (DFE plans suggest 2026-27 financial year) the schools allocations from local decision making will not be significantly different thus avoiding turbulence in school budgeting.

Alternative options considered

There are many options available to allocate funding to schools and schools forum discussed the strategy of following the NFF on several occasions.

As part of that strategy several options for the allocation of the resources to schools were considered prior to the consultation of schools on the proposals in this report. Several alternatives were set out the in the schools consultation paper.