Governance & Compliance 6 – Scheme for Financing Schools

Following a recent consultation, the ‘Scheme for Financing Schools’ has been approved and is now available on the Education & Learning Finance website. This updated document includes details on:

  • The funding framework
  • Financial controls
  • Instalments of the budget share and banking arrangements
  • The treatment of surplus and deficit balances arising in relation to budget shares
  • Income
  • The charging of school budget shares
  • Value Added Tax
  • Provision of services from centrally retained budgets
  • Insurance
  • Miscellaneous
  • Responsibilities for repairs and maintenance
  • Community facilities

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