Financial Transparency of Local Authority Maintained Schools.
Maintained schools are funded by grant from the Department for Education (the Dedicated Schools Grant). LAs are the accountable body for maintained schools and, in line with national frameworks and guidance set by the Department, monitor and intervene in these schools to reduce the risk of financial failure or misuse of funds.
Each LA has a scheme for financing schools which sets out the financial relationship between it and its maintained schools, and the Department publishes guidance setting out what is required or permitted in schemes.
The schools financial benchmarking website (see link below) provides access to the school's consistent financial reporting (CFR) statement of income, expenditure and balances.