3 Year Budget Plan Setting

Plans will take account of roll fluctuations, changes in income streams, the priorities identified in the School Development Plan and other changing circumstances in the school over the medium term, with particular regard to staffing changes.  Full consultation with the headteacher will take place to enable the school to plan and make sound financial decisions as appropriate. This in turn will help the school to produce a balanced budget in the medium term, at the same time ensuring the authority's no deficit policy is adhered to.

Note: The purpose of this service is to enable schools to meet their requirements in producing a 3 Year Budget Plan for the Local Authority outlined within the Scheme for Financing Schools and will be charged as a one off.  For academies this will be in line with the requirements of the EFA for a 1 year budget forecast and working 3 Year Plan.

Academies are not able to run a deficit without remedial action.  Academies that develop a deficit after opening will have to agree a structuring plan with the EFA (Ref: DfE Academy deficits and surpluses updated Aug 2012).