Fair Funding Scheme for Financing Schools
Each Local Authority is required to have a Fair Funding Scheme
for Financing Schools in accordance with the School Standards and
Framework Act 1998 (SSFA) and associated regulations.
The funding framework, which replaces Local Management of
Schools (LMS), is based on the legislative provisions in sections
45-53 of the SSFA as amended by section 41 of the Education Act
2002. The purpose of the framework is to achieve:
Improved Standards, Self-Management, Accountability,
Transparency, Opportunity, Equity and Value for Money. The
underlying principle of the Scheme is the maximum delegation of
managerial responsibility to governing bodies consistent with the
discharge by the Council of its statutory responsibilities.
The full scheme is available here.