Local Management of Schools Yearly Publications

Under the Local Management of Schools Funding arrangements, the Education Authority is required to allocate the calculated share of each funding stream budget directly to all its schools. 

Individual Budget Statement set out clearly how a school’s budget share has been calculated using the Common Funding formula. These statements are made available to all schools following the annual allocation of individual school budgets from the Department of Education.

Outturn statements are published annually.

The Outturn Statement allows actual net expenditure to be compared with budget allocations adjusted to include supplementary allocations and allocations from excepted items and the contingency provision.

The outturn statement also indicates balances to be carried forward into the subsequent financial year by individual schools. Underspends increase the resources available to schools in the subsequent financial year, while overspends have to be recovered out of the subsequent year's allocation and, in effect, reduce the amount available for spending in that year.