Schools holding money on behalf of other schools

Information on where schools hold money on behalf of other schools.

There are instances where schools hold money on behalf of other schools as part of a hub or network to carry out projects. This can result in under/over reporting of expenditure items in the CFR return for individual schools within the hub/network. Local authorities should pro-rate the funding between the individual schools within the hub/network, to avoid this discrepancy in the CFR returns.

If the situation still arises, the local authority should net off the income and expenditure for schools in this position before they submit the CFR returns to DfE, ensuring that correct income, expenditure and balances are reported for each school.

Please include in the notes section of the CFR returns information about the netting off, which schools this has affected, and how.