PRESTON SCHOOLS SITTING ON FUNDS

Released 28/08/2008

Schools accused of stockpiling funds

Primary schools in the have been accused of stockpiling cash, it is reported.

Schools in the North West of England have been accused of having many thousands of pounds sitting in their reserves while other schools struggle with balances in the red.

Councilors in Preston and Leyland are ‘very concerned' about the amount of money in these accounts and are trying to reclaim around £60m in total across the county to help out struggling schools.

Moor Nook Community Primary school carried forward £347,941 to 2007-08, which was the third highest in the county.

Farington was the only primary school to show a deficit, at £32,381 in the red.

Secondary schools also had reserves of cash, which totalled £3.75m.

Coun Vali Patel, Lancashire County Council's cabinet member for schools, said: "Lots of schools have balances they are not spending on every day activity. It is something we are very concerned about, because the money is there for the children's education, and should not be kept back."

"We clawed back two per cent last year, and we are looking to do more this year, to stop too much being carried forward," he said.

Source: Preston Citizen

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