# The LEA Budget, Schools Budget and Individual Schools Budget (England) Regulations 2004, Paragraph 2


Where any maintained school in the authority’s area is due to be discontinued and re-open as an Academy in the financial year beginning on 1st April 2005, an amount equal to F × (G/12) shall be deducted from E, where—
(a) F is the number of months during the financial year beginning on 1st April 2005 in which the school is not to be maintained by the authority; and
(b) G is the total budget share of that school for the financial year beginning on 1st April 2004.

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Source: https://www.legislation.gov.uk/uksi/2004/3131/schedule/2/paragraph/2 (the official version)
Page: https://openlegislation.uk/lea-budget-schools-budget-and-individual-schools-budget-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.