Free Schools
(asked on 23rd June 2015) - View Source
Question to the Department for Education:
To ask the Secretary of State for Education, what estimate she has made of the total held in reserves by each free school.
This question was answered on 30th June 2015
Free schools are independent organisations and hold reserves, both as working capital to manage day-to-day commitments, and to build funds for longer term planning as they cannot borrow commercially.
As at the end of August 2014, the most recent year for which financial statements are available, open free schools - either as single free schools or as part of multi-academy trusts - held revenue reserves, as set out in the attached table.