The School Standards and Framework Act 1998 requires a local education authority to publish a scheme relating to the funding of its schools.
The scheme sets out the financial relationship between the Royal Borough of Greenwich and maintained schools that we fund.
It contains requirements for financial management and related issues, which are binding on both us and on schools.
These requirements attempt to seek the right balance between giving schools the freedom necessary to exercise their delegated and devolved budget authority, and maintaining due regard for the proper accountability for and control over the expenditure of public funds.
Our scheme for financing schools has been revised to reflect current legislation and procedures. It was approved by the Schools Forum on 2 July 2014, following consultation with schools and governing bodies.
Read the scheme for financing schools
The scheme came into effect from 2 July 2014 and it supersedes all previous versions.