Management Information Sheet
Norfolk's schools funding formula agreed by County Council's Cabinet
Yesterday, Monday 30 January, Norfolk's County Council's Cabinet agreed the recommended schools funding formula for Norfolk mainstream schools, both maintained and academies.
This includes the 0.5% Schools Block to High Needs Block transferred agreed in November 2022 by Schools Forum. The formula also presumes Secretary of State for Education will approve an additional 1% block transfer from Schools Block to High Needs Block in line with the Local First Inclusion plan developed in conjunction with the DfE during 2022.
The formula includes a Minimum Funding Guarantee of +0.5% (maximum allowed by the regulations) and a cap will be in place, expected to be +2.56%. During Autumn 2022, a consultation was carried out with all schools to consider alternative options to a 'hard cap' given the impact upon some schools in 2022-23 who became eligible for sparsity funding for the first time with the change to distances measured by road rather than as the crow flies. The outcome of the consultation was reported to and discussed by Norfolk's Schools Forum at their November 2022 meeting; no consensus was reached to move away from the capping system for 2023-24 that has been in place for over 10 years.