(This note is not part of the Regulations)
These Regulations prescribe the expenditure which makes up a local education authority’s “local schools budget” for a financial year.
These Regulations specify the nature of the planned expenditure which a local education authority may deduct from their local schools budget in order to arrive at their “individual schools budget” for a financial year.
An authority’s individual schools budget is to be divided between the schools which they maintain in the form of budget shares for each school. These Regulations provide the basis on which a local education authority may determine the amount from their individual schools budget to be allocated to each school as its budget share for a financial year.
These Regulations require a local education authority to deal in a scheme prepared by them with specified matters connected with the financing of schools which they maintain.