Finalising Your 2025/26 Budget: A Detailed Checklist

We know how hectic budget season can be, with countless figures to check and deadlines looming. To help we’ve put together a comprehensive, practical checklist to help you stay on top of your 2025/26 school budgets.

Before you finalise your budget, have you checked:

Funding Assumptions & Pupil Numbers

• 2025/26 core funding agrees back to the Funding Letter.

• Numbers on Roll (NOR) forecasts for 2026/27 are accurate based on current census data and confirmed acceptances for Sep 25; be aware to exclude any dual subsidiary students.

• NOR forecasts for future years are accurate based on historic trends and local commissioning guidance.
  Useful link :  Pupil numbers: the regional forecasts schools need to know | Tes 

• Per Pupil forecast funding is realistic based on recent funding trends/sector guidance.

• Funding streams that cease within the forecast period have been adjusted for accordingly.
  Have you removed CSBG, TPAG and TPCEG as these are now included within the GAG? Except TPCEG continues for 16–19 and EYFS.

• Has SEND Funding been reviewed?
  Keep updated with Local Authority updates as there are many potential changes on the horizon.

• Other DfE and Local Authority grants have been updated for forecast rates and pupil numbers.

• Self-generated income streams are accurate based on current take-up: lettings, wrap-around care, other grants, etc. Are you making the most of these opportunities?
  Useful link : Income Generation: How easy is it really? 

Staffing & Workforce Planning

• Staffing structure is up to date; in line with the current staff body/needs of the school(s), ensuring efficiency and effectiveness.

• Staffing FTEs moving forward are in line with requirements, timetabling, and ICFP data.
  Have you looked at class sizes? Teacher contact ratio?

• Staffing incremental increases have been checked and included.
  Has the new NLW been implemented from April 25?

• Staffing inflation assumptions are relevant based on sector guidance.
  Useful link : ISBL Budget assumptions – 2025 to 2028  

Non-Staffing Costs & Contracts

• Check non-staffing forecasts in comparison to current actual costs for accuracy and inclusion.
  Could you utilise a bid-led process for curriculum spending to ensure value for money?
  Have you ensured the School Improvement Plan aligns with budget allocation?

• Compare non-staffing contracts to the contracts register for completeness, reviewing for value for money for each contract.
  Have you reviewed and ended subscriptions that are no longer used or needed? Could you benefit from centralising contracts in a MAT? Have you taken advantage of economies of scale?

• Ensure non-staffing inflation is accurate.
  Be aware of higher inflation rates on those relevant to NLW, catering, and cleaning contracts, for example. SRMAs are recommending between 2–3%.

• Have you seen the new DfE Energy offer?
  Useful link: A new way to buy energy for your school or trust – Buying for Schools 

Estate, Capital, and Central Services

• Ensure budgets align with your Estate Management Plan.
  Have you planned for capital needs? Reviewed life cycle for equipment and maintenance? Reviewed current CIF bids and planned for future bids? Reviewed and planned SCA funding expenditure?

• Ensure you are making the most of cash reserves during these tough financial times in education.
  Useful link : Maximising Trust Funds: A Q&A with Ian Buss — EduFin 

• Ensure central services are as efficient as they can be and the top slice has been accurately and fairly calculated (for MATs).
  Has the top slice been amended for future years?