Schools spend £24bn a year

Public expenditure within the education sector is not accurately accounted for, the Audit Commission revealed last week. Schools spend £24bn a year or one third of the local Government revenue budget. But the study found that reliable and up-to-date information about schools' budgets could not be provided by the Government or local councils. As a result, the report concludes that the funding crisis reported in spring 2003, was based on perception and assumption rather than accurate information. The Commission said that the level of schools' unspent balances - exceeding £1bn in total -is increasing, not eroding.