Secondary school in Northampton looking to save Â£200,000 in next five years
A secondary school in Northampton is planning to make about Â£200,000 in savings during the next five years to help cover the increasing cost of pension and insurance contributions.
Staff at Malcolm Arnold Academy, sponsored by the David Ross Education Trust, were recently told that some cutbacks will be needed in the next school year.
The academy is one of the biggest in Northampton and, in the 2014/15 school year, had a budget of £7.3 million, including more than £4 million for teaching and support staff.
The academy paid a total of £175,000 to the David Ross Education Trust last year for “central services” provided by the trust.
Chris Steed, Head at Malcolm Arnold Academy, said per-pupil funding was remaining static but the increase in pension and national insurance contributions meant the school would lose money.
He said: “The impact of these increases, and the movement in inflation, means that schools and academies are going to have to make some savings over the coming years.
“This is not unique to us. Every school will face similar pressures, but as we are a large school with a significant number of staff then we do feel the impact of changes in statutory contributions more strongly.
“We are fortunate that the school is in a relatively strong position financially, so savings can be made incrementally. It is right, however, that we live within our means and ensure that the money we do receive is used is efficiently and effectively to secure the best outcomes for our students.”