(This note is not part of the Regulations)
A local education 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, for the financial year beginning on 1st April 2005, a local education authority may determine or redetermine the amount from their individual schools budget to be allocated to each school as its budget share for that financial year.
These Regulations require a local education authority in a scheme prepared by them to set out specified matters connected with the financing of schools which they maintain.
The only notable changes from the Financing of Maintained Schools (England) (No.2) Regulations 2003 are some reorganisation of the provisions in regulation 15 and Schedule 2, including an increase in the multiplication factor in the funding formula in paragraphs 2 and 3 of the Schedule, and an increase in the percentage referred to in paragraph 5.