# The Education (Grant-maintained Schools) (Finance) Regulations 1992, Regulation 12: Determination of an amount representing the unspent sum of a previous financial year’s budget share


(1) This regulation applies where—
(a) the determination of maintenance grant in respect of a school is for the financial year in which the school’s in corporation date falls; and
(b) in a previous or previous financial years the school (before it acquired grant-maintained status) had a delegated budget under a scheme made by the former maintaining authority.
(2) In any case to which this regulation applies, there shall be added to the amount of maintenance grant payable in respect of the school under regulation 4 an amount determined in accordance with paragraph(3).
(3) The Secretary of State shall determine the amount which it appears to him is equal to that amount of the school’s budget share for any financial year prior to the financial year in question in respect of which either sums were not made available pursuant to section 36(2) or (3) of the Act, or, if made available, were not spent by the governing body in exercise of their powers under section 36(5) of the Act.

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Source: https://www.legislation.gov.uk/uksi/1992/555/regulation/12 (the official version)
Page: https://openlegislation.uk/education-grant-maintained-schools-finance-regulations-1992/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.