Report of the Director of Community and Children’s Services.
To be read in conjunction with the non-public appendix at item 30 on the agenda.
Members received a report of the Director of Community and Children’s Services informing the Education Board of the annual capital allocation available to City of London sponsored academies from the Department for Education (DfE), and the process by which the City of London Academies Trust (CoLAT) allocated this funding to the individual academies within the trust.
It was highlighted that this was in response to an interest shown by Members at a previous meeting as to how the academies were maintained.
It was explained that money provided by the DfE was annually allocated to support maintenance of the academies based on individual bids. Members noted that this was regularly reviewed by the Trustees Board and was subject to annual financial scrutiny.
RESOLVED, that the report be noted.