{
  "url": "https://openlegislation.uk/education-new-grant-maintained-schools-finance-regulations-1998/regulation-16",
  "json_url": "https://openlegislation.uk/education-new-grant-maintained-schools-finance-regulations-1998/regulation-16.json",
  "legislation": "uksi/1998/798",
  "legislation_title": "The Education (New Grant-maintained Schools) (Finance) Regulations 1998",
  "legislation_url": "https://openlegislation.uk/education-new-grant-maintained-schools-finance-regulations-1998",
  "path": "regulation/16",
  "kind": "regulation",
  "number": "16",
  "heading": "Excessive surpluses",
  "text": "(1) The funding authority shall determine the amount which appears to them to be equal or approximate to that amount of the school’s maintenance grant and special purpose grant paid in respect of costs incurred by the school in respect of Value Added Tax for the preceding financial year which has not been spent by the governing body (“the unspent amount”).\n(2) Paragraph (3) applies where the unspent amount is greater than the sum of—\n(a) 20 per cent. of the amount of maintenance grant that would, ignoring the effects of this regulation, be payable in respect of the school for the financial year in question; and\n(b) the amount of special purpose grant which the funding authority estimate they would, ignoring the effects of this regulation, pay to the governing body in the financial year in question in respect of costs incurred by the school in respect of Value Added Tax.\n(3) Where this paragraph applies, the amounts to be added together for the purpose of determining the amount of maintenance grant payable in respect of the school under regulation 4(1) shall have deducted from them such amount, if any, as the funding authority, having consulted the governing body of the school, may determine being no greater than the difference between the unspent amount and the sum of the amounts referred to in paragraph (2)(a) and (b).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1998/798/regulation/16",
    "retrieved_at": "2026-10-29T11:34:06.293610+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}