07th November 2018
The Government announced an additional £400 million capital funding for schools in the recent budget. This funding is for improvements such as to buildings, equipment and other facilities such as ICT rather than major capital projects.
Eligible for this funding are;
Capital funding for 2019-2020 for investment in maintenance and regeneration of the schools estates is to be delivered through -
Devolved Formula Capital
School Condition Allocation
The Condition Improvement Fund
The ESFA will publish a calculator by December 2018, which will help schools to estimate the amount of funding they could potentailly receive. It is expected that schools could receive funding in the range of £10,000 (primary school) and £50,000 (secondary school).
The funding allocations will be to individual schools, but in some cases may go through local authorities or Multi Academy Trusts.
The funding will be for schools to spend in the 2018-19 financial year. However, in some cases, terms of devolved formula capital may apply which could allow schools to spend the funding over the following two financial years if necessary.
Barker Associates can advise on possible uses for this funding including provision of energy efficiency works that could multiply this initial capital sum into long term income/savings. If you require further information on how you may spend this funding please contact us.