St Cyres Secondary School – which was in financial deficit last year – has now managed to get itself back onto an even keel.
The Vale of Glamorgan Council reports that St Cyres Comprehensive School is “no longer in a deficit position and has recovered the previous deficit budget two years sooner than originally planned”.
Another Penarth school – Fairfield Primary – is also said to be “no longer in a deficit position” – however the school’s financial balance – according to Vale Council data – now stands at precisely zero.
The Vale Council says schools don’t have the authority to spend more than their allocated budget in any financial year. If they DO overspend the council says the “deficit” [ i.e. the difference between what they spend and what they receive] will either have to be met from unspent balances brought forward or from the school’s budget share from the following financial year.
Any schools which find themselves in an “unplanned deficit position” have to submit “budget recovery plans” which will repay the deficit within a period of 5 years