Purpose

To provide details of the Schools Funding
Settlement 2024/25 and to approve the local funding formula models
for early years and schools

Content

The Cabinet has
considered an update on the key announcements made by the
Department for Education (DfE) on the education funding settlement
for 2024/25, and has:-
 
(1) Noted the details
of the Education Funding Settlement for 2024/25.
 
(2) Approved the
construction of the early year’s budget as per section 3.1 to
3.2 and the updated 2024/25 local funding formula for schools as
outlined in sections 3.3. to 3.5 and detailed in the table(s) in
section 6.2 which will form the basis of the calculation of school
budgets and be notified to the DfE in accordance with statutory
requirements.

Alternative options considered

None.