Part IResponsibility for education
Chapter IAdministration
Funding authorities: Supplementary
8Value-for-money studies of grant-maintained schools
1
Each funding authority shall make arrangements for carrying out such value-for-money studies of grant-maintained schools in England or, as the case may be, Wales as in their opinion are required or as the Secretary of State may direct.
2
The authority shall, in particular—
a
in forming an opinion as to whether any value-for-money study is required to be carried out in pursuance of this section, have regard to the desirability of value-for-money studies being carried out at regular intervals, and
b
in determining the scope of any value-for-money study to be carried out in pursuance of this section otherwise than on the direction of the Secretary of State, have regard to the scope of any value-for-money study which is being or has recently been carried out.
3
In this section “value-for-money study”, in relation to any grant-maintained school, means—
a
any examination into the economy, efficiency and effectiveness with which the governing body of the school have, in discharging their functions, used grant made by the authority, and
b
any study designed to improve economy, efficiency and effectiveness in the management or operations of the school.