# The LEA Budget, Schools Budget and Individual Schools Budget (England) Regulations 2004, Paragraph 1


Subject to paragraphs 2 and 3, the total amount to be deducted from an authority’s schools budget (the “central expenditure”) in accordance with regulation 6 of these Regulations in order to arrive at their individual schools budget, shall not exceed (A − B) (or 0 if that is greater) + (C × D/E) where—
(a) A is the total amount of the schools budget for the financial year beginning on 1st April 2005 less the total amount of the schools budget for the financial year beginning on 1st April 2004;
(b) B is the schools block in the education element of the formula spending share for the authority for the financial year beginning on 1st April 2005 less the schools block in the education element of the formula spending share for the authority for the financial year beginning on 1st April 2004;
(c) C is the total amount initially deducted from the authority’s schools budget in accordance with regulation 5 of the 2003 Regulations, excepting any amount deducted in accordance with paragraphs 1 to 3 of Schedule 3 to those Regulations;
(d) D is the total amount of the individual schools budget as initially determined in accordance with regulation 6 of these Regulations; and
(e) E is the total amount of the individual schools budget for the financial year beginning on 1st April 2004 as initially determined in accordance with regulation 5 of the 2003 Regulations,
save that any grant paid by the Learning and Skills Council for England to the authority under section 7 of the 2000 Act shall be excluded from all of these calculations.

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Source: https://www.legislation.gov.uk/uksi/2004/3131/schedule/2/paragraph/1 (the official version)
Page: https://openlegislation.uk/lea-budget-schools-budget-and-individual-schools-budget-england-regulations-2004/schedule-2/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.