Part II New framework for maintained schools

Chapter IV Financing of maintained schools

Information

52 Financial statements.

(1)

Before the beginning of each F1financial year F1prescribed period a local education authority shall prepare a statement containing such information relating to their planned expenditure in F2that year F2that period as may be prescribed.

F3(1A)

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 F4financial year F4prescribed period a local education authority shall prepare a statement containing such information with respect to the following matters as may be prescribed—

(a)

the planned expenditure in that F5year F5period 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 F5year F5period, F6and

(c)

any other resources allocated by the authority in the F5year F5period to schools maintained by them during any part of the F5year F5period. F7and

(d)

accountable resources held, received or expended in the F5year F5period by any person in relation to a school maintained by the authority.

F8(2A)

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).

F9(2B)

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.