(This note is not part of the Regulations)
These Regulations, which are made under section 52 of the School Standards and Framework Act 1998, apply to local education authorities (LEAs) in Wales. The Regulations specify the information about LEAs expenditure on education which must be contained in the statement of planned expenditure “budget statement” which each LEA are required to prepare before the beginning of each financial year under subsection (1) of section 52. The Regulations replace the Education (School Financial Statements) (Prescribed Particulars Etc.) Regulations 1995.
Every budget statement must be prepared in four parts as follows:–
(a)Part 1, in the form and containing particulars of expenditure at LEA-level specified in Schedule 1;
(b)Part 2, in the form and containing particulars of planned expenditure for individual schools specified in Schedule 2;
(c)Part 3, in the form and containing the information with respect to the methodology for determining schools' budget shares specified in Schedule 3; and
(d)Part 4, containing the information with respect to the budget share of each of the authority’s schools specified in Schedule 4.
See regulation 4.
The regulations also provide for the manner and time of publication of budget statements—see regulations 5–8.