School Finances

Part of Oral Answers to Questions — Children, Schools and Families – in the House of Commons at 2:30 pm on 12th November 2007.

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Photo of Jim Knight Jim Knight Minister of State (Schools and Learners), Department for Children, Schools and Families, Minister of State (Department for Children, Schools and Families) (Schools and Learners) 2:30 pm, 12th November 2007

We certainly believe that, as I have just said, a modest surplus year on year makes sound financial sense. In the Bromley authority, in the area that the hon. Gentleman represents, the net revenue balance was relatively modest, and I am sure his head teachers are doing a good job and enjoying spending the increased capital money to invest in their pupils, which has increased from £1.66 million 10 years ago to an allocation of £576 million in 2011. That reinforces the point that if schools continue to build up excessive surplus balances, they need to be dealt with so that the money can be spent on current pupils. However, we have now given schools good notice—at least a couple of years—of the need to get their act together, to work with local authorities and to reduce excessive balances, while maintaining a prudent surplus.

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