Part II New framework for maintained schools

C1 Chapter IV Financing of maintained schools

Annotations:
Modifications etc. (not altering text)
C1

Pt. 2 Ch. 4 (ss. 45-53) modified (20.11.1998) by S.I. 1998/2670, reg. 3(1)(3)

Information

52F10Financial statements: Wales.

1

Before the beginning of each F4financial yearF4prescribed period a local education authority F11in Wales shall prepare a statement containing such information relating to their planned expenditure in F5that yearF5that period as may be prescribed.

F61A

The periods prescribed for the purposes of subsection (1)—

a

must consist of one or more funding periods, and

b

may include funding periods in respect of which (by virtue of their inclusion in one or more earlier periods prescribed for the purposes of that subsection) information relating to planned expenditure has previously been required under that subsection.

2

After the end of each F7financial yearF7prescribed period a local education authority F12in Wales shall prepare a statement containing such information with respect to the following matters as may be prescribed—

a

the planned expenditure in that F8yearF8period specified in the statement prepared by the authority under subsection (1),

b

expenditure actually incurred, or treated by the authority as having been incurred, by them in the F8yearF8period, F1and

c

any other resources allocated by the authority in the F8yearF8period to schools maintained by them during any part of the F8yearF8period. F2and

d

accountable resources held, received or expended in the F8yearF8period by any person in relation to a school maintained by the authority.

F32A

In subsection (2)(d), “accountable resources”, in relation to a maintained school, means any resources which are not provided by the local education authority but in respect of which an obligation is imposed on the governing body of the school by virtue of regulations under section 44 of the Education Act 2002 (accounts of maintained schools).

F92B

The periods prescribed for the purposes of subsection (2) must consist of one or more funding periods.

3

A statement under this section shall—

a

be prepared in such form, and

b

be published in such manner and at such times,

as may be prescribed.

4

The authority shall furnish the governing body and head teacher of each school maintained by them with a copy of each statement prepared by the authority under this section or, if regulations so provide, with a copy of such part or parts of it as may be prescribed.

5

A governing body provided with such a copy under subsection (4) shall secure that a copy of it is available for inspection (at all reasonable times and free of charge) at the school.

6

Subsection (5) does not apply to a temporary governing body of a new school at any time before the school opening date.