Finance Review Group June 2017
Just a very brief report from the June 2017 meeting of the finance review group. The Government has suggested that LAs move their funding formula closer to the proposed national funding formula (consultation results still awaited.) With this in mind, the LA had undertaken some modelling to show the impact on Essex schools of a £10k reduction in lump sum offset for some schools by the introduction of sparsity funding at the levels proposed in the DfE consultation. I support neither the reduction of lump sum nor the introduction of sparsity funding, and I am pleased to say that the group rejected the proposal to move towards the proposed national funding formula in this way. In any case, this would seem very premature given the current uncertainty around the national funding formula. I do hope that the Government soon releases the consultation response.