# The Financing of Maintained Schools (England) Regulations 2004, Paragraph 2: Primary and Secondary Schools


Subject to paragraphs 3 and 4, the guaranteed funding level shall be calculated as follows—
(a) where the relevant number of pupils for the financial year beginning on 1st April 2005 is the same as the relevant number for the financial year beginning on 1st April 2004, the guaranteed funding level shall be A;
(b) where the relevant number of pupils for the financial year beginning on 1st April 2005 is higher than the relevant number for the financial year beginning on 1st April 2004, the guaranteed funding level shall be the greater of either
A+(B×C), or (D/E)×F;
(c) where the relevant number of pupils for the financial year beginning on 1st April 2005 is lower than the relevant number for the financial year beginning on 1st April 2004, the guaranteed funding level shall be
A-(B×C).
where—
A is the initially determined adjusted budget share for the financial year beginning on 1st April 2004 multiplied by 1.05 in respect of primary schools and 1.04 in respect of secondary schools;
B is the difference between the relevant number of pupils for the financial years beginning on 1st April 2004 and on 1st April 2005;
C is the mean value of funding per pupil in the school’s adjusted budget share for the financial year beginning on 1st April 2004 multiplied by 0.84 in respect of primary schools and by 0.91 in respect of secondary schools;
D is the initially determined adjusted budget share for the financial year beginning on 1st April 2004;
E is the relevant number of pupils for the financial year beginning on 1st April 2004; and
F is the relevant number of pupils for the financial year beginning on 1st April 2005, multiplied by 1.049 in respect of primary schools and 1.039 in respect of secondary schools.

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Source: https://www.legislation.gov.uk/uksi/2004/3130/schedule/2/paragraph/2 (the official version)
Page: https://openlegislation.uk/financing-of-maintained-schools-england-regulations-2004/schedule-2/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.