HC Deb 11 July 2002 vol 388 cc1175-6W
Mr. Dobson

To ask the Secretary of State for Education and Skills what her Department's estimate is of the total financial reserves held by schools in the(a) last year for which figures are available and (b)preceding five years. [68516]

Mr. Miliband

[holding answer 10 July 2002]: The following table sets out the information requested, in respect of schools maintained by local education authorities in England.

Financial year Aggregate balances at end of year(£ million)
2000–01 11,041
1999–2000 723
1998–99 556
1997–98 507
1996–97 524
1995–96 581

The figures contained in the table have been derived from the outturn statements prepared by local education authorities under section 52 of the School Standards and Framework Act 1998 (and corresponding previous legislation), and represent surpluses net of deficits. The figures for 2000–01 and 1999–2000 include the balances held by former grant-maintained schools, which amounted in total to approximately £108 million and £92 million respectively. I am investigating the practicability of providing information on grant-maintained schools' aggregate balances for 1998–99 and previous years, and I will write to my right hon. Friend to advise him of the outcome.