Issue - meetings

Purpose

To inform the Cabinet Member of the projected revenue expenditure of the Dedicated Schools Grant (DSG) for the current financial year 2018-19 as at the end of September 2018.

Recommendations

That the Cabinet Member:

1)    Notes the forecast year-end budget position for the Dedicated Schools Grant as at 30 September 2018, together with the associated explanations contained within this report.

2)    Approves the necessary adjustments to Dedicated Schools Grant to reflect:

·           Early year's budgets and DSG income budget, to reflect the adjustment in grant funding due to pupil number changes, as set out in paragraphs 3.30 and 3.31.

·           An adjustment to the DSG to reflect the decision by the Secretary of State to approve the transfer of £1.0m to capital to support the development of Redwood Park School.

·           An adjustment to the DSG to reflect the decision to support The Harbour School in May 2018.

The report was introduced by Beverley Pennekett, Finance Manager. She said that the report reflected the Dedicated Schools Grant (DSG) allocation, and it was suggested that the budget be adjusted as per the report's recommendations.

Table 1 of the report outlined the breakdown of the  projected overspend of £573k.  A  High Needs strategy had been put in place in October to deal with the issues around the financial pressures in this area. 

DECISION: The Cabinet Member:

1)         Noted the forecast year-end budget position for the DSG as at 30 September 2018, together with the associated explanations contained within this report.

2)         Approved the necessary adjustments to the DSG to reflect:

·         Early year's budgets and DSG income budget, to reflect the adjustment in grant funding due to pupil number changes, as set out in paragraphs 3.30 and 3.31.

·         An adjustment to the DSG to reflect the decision by the Secretary of State to approve the transfer of £1.0m to capital to support the development of Redwood Park School.

·         An adjustment to the DSG to reflect the decision to support The Harbour School in May 2018.