On 17 July 2014, the Department for Education (DfE) released the “Fairer School Funding - Arrangements for 2015 to 2016”.
These arrangements have confirmed that the minimum funding guarantee (MFG) for schools has been maintained for 2015-2016, protecting School budgets as the funding per pupil cannot drop by more than 1.5% per year.
Increased funding of £350million has been made available for 2015-2016. Funding for 2015-2016 will be allocated depending on pupil and school characteristics, rather than historic spending. This represents a marked change by the DfE designed to make funding fairer across the country.
Minimum funding levels for 2015-16 will be:
1) Per pupil amount
Primary - £2,880Key stage 3 - £3,950Key stage 4 - £4,502
Between £882 and £1,870
3) Looked-after children
4) Low prior attainment
Primary - £669Secondary - £940
5) English as an additional language
Primary - £466Secondary - £1,130
6) School lump sum
Primary - £115,797Secondary - £125,155
7) Sparsity sum for small schools (vital to serving rural communities)
Primary up to £44,635
Secondary up to £66,656
We believe that this will provide many schools with additional surety of funds.