New LEA funding system
This was the home page for the new LEA funding system that was introduced in 2003. Details were first announced on 5 December 2002: it was a part of the new local authority finance system and the provisional Local Government Finance Settlement, which were the subject of a statement on that day to the House of Commons by the Rt Hon. Nick Raynsford, MP.
Following consultation which allowed authorities to check the data used in the calculations of Formula Spending Shares and to make representations on that to central Government, the final Local Government Finance Settlement was announced on 3 February 2003.
Each LEA's final Education Formula Spending Share for 2003-04, and its constituent parts are set out in the new LEA funding system spreadsheet:
New LEA funding system model (Excel 1026Kb)
A technical note explaining the new formula and the evidence underpinning it can be accessed through the link below:
Technical note on new LEA funding system (Word 400Kb)
