DFC – The DFC is Devolvement Formula Capital. This is government funding that is allocated to every school. There is a set amount given to each primary and secondary school in the Diocese - this set amount is given no matter what the size of the school. Additionally, they are given a variable amount which is based on the size of the school, measured by the number of pupils in attendance. With this money, the school can finance any assets or capital - anything that adds value to the school over the value of £2000. In VA schools the governors have to find 10% of these costs. In VC schools the LEA has to find the 10%. We as the DBE have an account which money is paid from and to. We then have two separate holding accounts for each account: one that holds the DFC money and one that holds the interest. The DFC account pays for the work done, and the interest account helps pay for the 10% that the governors have to pay for.
SCA - SCA is the Schools Condition Allocation. This money is given to the Diocese from the government. This is money that is bid for by the schools for larger building schemes. The bids are placed in priority order, prioritising the schools which require building works that may prevent the closure of a school. At a minimum, we endeavour for all schools to be warm, dry, and safe.
NGA - This is Non Grant Aided. This is where the schools propose for a project to be started, that is covered by none of the above funding channels. In this case, if the work is to be done then it is up to the governors to find the money.
CMS - CMS is Client monies; it is the system of bank accounts that hold the above funding streams.
VA - Voluntary aided school. This is a school where the employer is the Governing Body.
VC - Voluntary controlled. This is a school where the Local Authority (LA) is the employer.
F&GP - Finance and general purposes. This is one of two subcommittees that report to the Board. This meeting discusses the financial matters of the Board of Education. The second subcommittee is Schools committee. This meeting discusses the governance of our schools.