The Finance Committee: Summary of activity from the summer term

There was an “acceptable” surplus in the revenue account at the end of the 2014/15 financial year. Whilst it is desirable for the account to be in the black at the year-end, we could be criticised if it were excessively so - income should be spent to improve the outcomes of the children not be held in a bank. The school’s surplus was not deemed to be excessive.

The committee has reviewed how last year’s budget had affected standards and attainment and concluded that it had permitted, amongst other things, the funding of the desired staffing level, the resourcing of the School Improvement Plan, the development of the new school website, and, the establishment of improved communication with parents.

A balanced budget for 2015/16 has been set, albeit with a small contribution from reserves. We will continue to meet at least twice each term to monitor expenditure and to take any decisions necessary to spend monies as effectively as possible if situations change as the year progresses.