The majority of the funding for the school comes from the general annual grant (GAG) which is received from the Education and Skills Funding Authority (ESFA). This is made up of:
– The school budget share which is calculated on the same basis as for maintained schools in the same local authority.
– The education services grant (ESG) protection if applicable
– A minimum funding guarantee that protects the school budget share. This means per-pupil funding will not fall by more than 1.5% compared with the previous year.
In addition, we receive the Pupil Premium Grant. The DfE allocates the Pupil Premium Grant to schools and local authorities the following amounts:
– £1,320 per pupil for each Ever 6 FSM full time equivalent (FTE) pupil aged 4 and over in year groups reception to year 6, except where the pupil is allocated the LAC or post-LAC premium
– £935 per pupil for each Ever 6 FSM FTE in year groups 7 to 11, except where the pupil is allocated the LAC or post-LAC Premium
– £1,900 per pupil for each post-LAC in year groups reception to year 11
– £300 for each pupil aged 4 and over in year groups reception to year 11 who is either Ever 6 service child FTE or in receipt of pensions under the Armed Forces Compensation Scheme (AFCS) and the War Pensions Scheme (WPS)
Details of how Pupil Premium funding is spent can be found in our annual Pupil Premium Statement.
The Trust appoints an external auditor to conduct both termly and annual audits of the Trust Schools.
In addition, the Trust’s Chief Finance Officer conducts regular checks in each school to ensure that financial policy and practice is being adhered to consistently.