Some facts and figures that academies do not have enough funding to cover their annual expenditure, according to figures revealed by ministers.
- Figures show for 2014-15 that 53% of stand alone academies were recorded as having “spent more than their income per year”, up from 42% in the previous years.
- Multi-academy trusts, show that spending more than their income was 53% compared with 25% in the previous year.
- School leaders have been increasingly vocal in concerns about funding levels.
- Head teachers have already been told about shortening their hours, governors will not sign off budgets and grammar school leaders have stated that they may start charging parents.
- The way that school funding is shared out to individual schools is also being changed – with the launch of a new funding formula.