Cascade to
Finance Directors.
Summary
On 17 July 2012 the Department published the Government response to the consultation on academies funding transfer for 2011-12 and 2012-13. The Government response sets out the steps we have taken to ensure that the academies funding transfer better reflects the pattern of academy provision across the country. Alongside this we have published the recoupment unit values for each local authority for 2011-12 and 2012-13, and a list of the 2011-12 refund amounts to be paid by the end of July 2012.
We are also consulting on changes to the way that local authorities and academies are funded for functions that devolve to academies. We are proposing that, from 2013-14, the LA block Local Authority Central Spend Equivalent Grant (LACSEG) will be replaced by a new grant for academies and local authorities calculated on a clear and transparent national basis. The consultation should be read alongside the Department for Communities and Local Government's consultation on the business rates retention scheme.
Action required and due date
To read the consultation document, distribute to relevant colleagues and provide responses as appropriate. The deadline for responses is 24 September 2012.
