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• Schools can carry forward unspent revenue balances from one financial year to the next (2.1)
  
  
• Governors must report on the use the school intends to make of surplus balances where the total balance is 5% for Secondary and 8% for Nursery/Primary/Special or more of the schools budget share (2.2)
  
  
• Schools can hold a level of reserves to meet unforeseen, emergency and outstanding commitments (2.3)
  
  
• Surplus Balance Analysis forms must be completed by schools by the end of the summer term detailing planned use of their surplus balance (2.4)
  
  
• Commitments extending into future financial years must be fully funded and completed within the indicated timescales (2.5)
  
  
• Uncommitted surplus balances above the permitted level can be clawed back by the LA and recycled within the overall schools budget (2.6)
   
• Non submission of the Surplus Balance Analysis form will mean that the LA will assume that the surplus balance has not been earmarked for any particular purpose and will be available for re-distribution (2.7)
   
• The Local Authority reserve the right to re-distribute balances assigned against criteria in previous years and for which, on monitoring, spending has not taken place (2.8)
   
• Schools may not plan for a deficit budget (3.1)
  
  
• Deficits arising from overspending against delegated budgets will be carried forward from one financial year to the next (3.2)
  
  
• Interest will not be charged on deficit balances providing a formal financial repayment plan has been agreed with the Local Authority (3.3)
  
  
• The Local Authority is not able to write off deficit balances.  Contingency Schemes are available to support schools in financial difficulty (3.4)
  
  
• Deficits may arise as a result of unforeseen circumstances such as falling pupil numbers and long term sickness issues (3.5)
  
  
• Schools with budget difficulties should contact the Local Authority (Schools Financial Services) to agree a formal financial repayment plan. (3.6)
  
  
• Licensed Deficit – see chapter entitled ‘Licensed Deficits’
   
• The Local Authority holds limited cash funding to support schools in financial difficulty (5.1.1)
   
• Schools are required to meet specific criteria in order to qualify for support from the Schools in financial Difficulty Scheme (5.1.2)
   
• The Local Authority holds limited cash funding to support schools successfully moving out of the Ofsted category of Special Measures (5.2.1)

• Schools are required to meet specific criteria in order to qualify for support from the Schools Successfully Moving Out of Special Measures Scheme (5.2.1)