Purpose

To set out the methodology of creating the
schools funding formula for 2026-27.

Decision

(1) 
To follow the formula set out in the report, continuing to follow
the National Funding Formula (NFF) and to utilise the factor values
provided by the DFE, providing the resources are available.
 
(2) 
Should resources not allow the funding of the formula factors in
full, to agree that a proportionate reduction of all allowable
factors is made to reduce the allocations to fit the resources
available.
 
(3) 
To set the Minimum Funding Guarantee (MFG) at 0% per pupil.

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
2027-28 financial year or later), 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 the 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 the
report.  Several alternatives were set
out in the schools consultation paper.