Deficit Recovery Plan:
- Budget vs Actual
- Strategic Information LA require.
Approved Budget Plan showing a deficit position without applying for a licensed deficit will be asked to re submit a balanced budget or apply for a licensed deficit.
Recovery plans a number of validation checks will be completed by the governors:
- Comparing the current year’s income and expenditure budgets with previous years’ trends to identify any significant differences.
- Checking that benchmarking on DfE website to understand schools Key Performance Indicators are in line with other school of similar size.
- Actions included in the recovery plan are realistic and that by implementing them the required level of savings can be achieved.
- Any areas that are unclear or simply not achievable will be queried with the school and clarification sought.