Education Reform Act 1988

50 Financial statements in respect of schools not covered by statements under section 42

(1) Every local education authority shall prepare a statement under subsection (5) below in respect of any financial year before the first financial year in respect of which the authority are required to prepare a statement under section 42 of this Act (including the financial year current at the time when this section comes into force).

(2) Subject to subsection (3) below, every local education authority who maintain one or more special schools during the whole or any part of any financial year after the last financial year to which subsection (1) above applies shall prepare a statement under subsection (5) below in respect of that financial year.

(3) Subsection (2) above shall not apply in relation to such an authority in respect of any financial year in respect of which the authority are required to prepare a statement under section 42 of this Act which, by virtue of any provision made by regulations under section 43 of this Act, is required to include information with respect to the special school or (as the case may be) with respect to each of the special schools concerned.

(4) The schools required to be covered by a statement prepared by a local education authority under subsection (5) below in respect of any financial year are—

(a) in the case of a statement required by subsection (1) above, any county, voluntary or special school maintained by the authority during the whole or any part of that year; and

(b) in the case of a statement required by subsection (2) above, any special school so maintained other than one in respect of which, by virtue of any provision so made, any information is required to be included in a statement prepared by the authority in respect of that year under section 42 of this Act.

(5) The statement shall give the following particulars with respect to the financial provision initially planned by the authority in respect of the financial year to which the statement relates for the schools required to be covered by the statement—

(a) the initial amount appropriated for meeting expenditure in that year in respect of all such schools;

(b) the amount remaining (referred to below in this section as the general expenditure amount) after deducting from the amount specified in the statement by virtue of paragraph (a) above the aggregate amount of the initial amounts so appropriated in respect of—

(i) expenditure of a capital nature;

(ii) expenditure in respect of the repayment of the principal of, the payment of interest on and the discharge of any other financial obligation in connection with any loan raised to meet expenditure of a capital nature; and

(iii) expenditure of such other descriptions as may be prescribed;

(c) such particulars as may be prescribed of amounts so deducted;

(d) in the case of each such school, the share of—

(i) the general expenditure amount; and

(ii) such of the amounts so deducted by virtue of paragraph (b)(iii) above as may be prescribed;

which is appropriated by the authority for meeting expenditure for the purposes of the school;

(e) in the case of each such school, the amount of any expenditure of a capital nature initially planned for the purposes of the school;

(f) such particulars of the basis on which the authority determine the share of each such school for the purposes of the information required to be included in the statement under paragraph (d) above as may be prescribed; and

(g) such further information with respect to the financial provision initially planned by the authority for the schools required to be covered by the statement as may be prescribed.

(6) After the end of each financial year in respect of which a local education authority are required to prepare a statement under subsection (5) above the authority shall prepare a statement containing such information with respect to—

(a) expenditure actually incurred in that year for the purposes of all schools required to be covered by the statement under subsection (5); and

(b) expenditure so incurred which was incurred, or is treated by the authority as having been incurred, for the purposes of each such school;

as may be prescribed.

(7) Each statement prepared under this section in respect of any financial year shall be prepared in such form, and published in such manner and at such times, as may be prescribed.

(8) The authority shall furnish the governing body of any school required to be covered by a statement prepared under subsection (5) above in respect of any financial year with a copy of each statement prepared by the authority under this section in relation to that year.

(9) A governing body to whom a copy of any such statement is furnished under subsection (8) above shall secure that a copy of the statement is available for inspection (at all reasonable times and free of charge) at the school.

(10) Where only one school is required to be covered by a statement prepared under subsection (5) above—

(a) references in this section to all schools required to be so covered shall be read as references to the school in question;

(b) that subsection shall apply with the omission of paragraphs (d) to (f); and

(c) subsection (6) above shall apply with the omission of paragraph (b).