The new School Finance (England) Regulations 2012 are out: see https://www.legislation.gov.uk/uksi/2012/335/pdfs/uksi_20120335_en.pdf.
These apply for the financial year 2012-2013 and replace previous versions of the regulations. As previously, they define the non-schools education budget, the schools budget, the central expenditure and the individual schools budget and require local authorities to determine budget shares for schools maintained by them in accordance with the appropriate formula. They also prescribe the amounts to be allocated in respect of nursery classes in schools maintained by them and relevant early years providers in their area and impose requirements in relation to local authorities’ financial schemes.
There are three significant changes from the regime applicable under the 2011 Regulations:
(1) Where a pupil in respect of whom a pupil premium is payable is permanently excluded from one school and admitted to another school, provision is made for the budget shares of both schools to be adjusted by an amount which equates to the appropriate portion of that premium.
(2) Provision is made to allow for the remission of boarding fees for pupils registered at Academies to be charged to the schools budget.
(3) There are changes to the calculation of the minimum funding guarantee and to the circumstances in which the guarantee may be varied or disapplied