Schools accused of ‘hoarding’ cash
- May 7, 2010
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Keywords:
- budget
- excessive
- funding
- government
- school
- Not rated
Despite the majority of schools managing their balance well and all schools being permitted to have a small surplus, the government has warned it will take action if funds were found to be ‘excessive’
Earlier this year, the government warned that if extra funding was not managed properly by schools, authorities could have the power to redistribute funds among other local schools.
Schools Minister, Vernon Coaker, was pleased that the number of schools with excess surplus balances had fallen to its lowest in 10 years but still argued that if substantial reductions were not made, further action will be considered:
“If we do not see a substantial reduction of total revenue balances and in particular the excessive balances held by individual schools, the government will consider further action from 2011-12 to bring the total down to ensure the funding is being spent on improving outcomes for children and young people.”
The National Union of Teachers (NUT) has argued that the assumption that schools are sitting on vast wealth is largely fictitious and such funds would seem like a quick win for the government.
Head teachers are now warning the government against attempting to raid surplus cash held by schools.
