Finance
THE NATURE OF A VOLUNTARY AIDED SCHOOL
In a voluntary aided school such as St. Luke’s the Governing Body is responsible for aspects of the school’s financing.
The Governors are responsible for finding 10% of the cost of any repairs and maintenance and of any improvements to the school’s fabric costing more than £2,000. This 10% is currently found from the school budget. In April 2000 the Diocese set up a Building Fund to assist schools in finding this money (see below).
The school has a delegated budget, i.e. the Governors of the schools have direct control over the entire school budget. The funding of schools is based on a common formula which allocates each school an amount of money per pupil.
DIOCESAN BUILDING FUND
The Diocese has a Building Fund to assist Catholic schools in funding their share of costs for health and safety based repairs, maintenance and improvements, where schools can bid for a funding grant each year to help finance their pending projects. The Building Fund is derived from parental contributions, and St Luke’s parents are asked to contribute £15.00 per child, per annum towards this.
SCHOOL FUND
The School has its own school fund account which holds the private school fund income for educational visits and events – but its main function is to hold the income from the many fundraising events that take place over the school year. The proceeds from this account are utilised for the benefit of all pupils in many ways including, helping to subsidise the costs of educational visits and events, purchasing equipment, improving facilities and supporting charity. This account is audited annually on an academic year basis. Please click the links below to view the latest School Fund account summary information and audited accounts:
