It’s emerged that some schools in Penarth are holding huge reserves of tax-payers’ cash in their reserves – rather than spending it on educating their pupils.
Last week the Welsh Labour Government’s Education Secretary Kirsty Williams said she was “shocked” by how much money some schools in Wales had squirrelled away for a “rainy day” – and told them “….it’s raining now”.
Altogether there are 17 primary and 3 secondary schools in the Vale of Glamorgan with cash surpluses which are in excess of the levels permitted by the regulations.
The worst offending school in Penarth is Cogan Primary (photo above) which has salted away a small fortune amounting to £119,178 – which is more than 16% of the school’s annual budget.
Meanwhile another Penarth primary school also keeping big bucks under the mattress is Victoria Primary which is holding reserves of £83,350 (5.5% of its budget)
The big Stanwell Secondary School has stashed away a total of £188,043 (2.4% of its annual budget)
The Ysgol y Deri special school has a nest-egg amounting to £110,187 (1.8% of its budget)
The financial picture isn’t so rosy though in the brand new St Cyres Secondary School. St Cyres is in the red with a “deficit balance” of £175,446 at the end of March this year. A formal letter has been issued to the school asking for an explanation for the deficit. Now a ” 5 year recovery plan” is to be implemented to get the school out of debt.
As far as the other schools which have under-spent their budgets are concerned, the Labour-run Vale of Glamorgan Council does have powers to claw back surplus cash – but has yet to do so.