Funding 40: Extra Funding

Posted on 14 November 2018 by financeschools-mailbox@devon.gov.uk

Following the recent announcement in the Autumn Budget Statement for an extra £400m for schools in England – we now have further information which can be found at:

https://www.gov.uk/government/publications/capital-allocations/capital-funding-for-2018-to-2019

It is essential that the funds be treated as Capital and used for improvements, rather than major capital projects, and it is to be expended in the financial year 2018 to 2019. However, the normal terms of devolved formula capital will apply which provide some flexibility for schools to spend the funding over the following 2 financial years if necessary.