Feb 25 Management Accounts: School Surplus/Deficit Summary

Management Accounts Feb 25 SCHOOLS THAT EXCEL | PEOPLE WHO INSPIRE | PARTNERSHIPS THAT MAKE A DIFFERENCE

Feb 25 Management Accounts Figures represent the surplus/deficits By school Table opposite contains the summary of the surplus/deficits v the budget for Feb 25. Schools Central Charter Institute The Charter Schools Educational Trust Primary Charles Dickens Primary School Dulwich Hamlet Junior School Loughborough Primary School Lyndhurst Primary School Streatham Wells Primary School The Belham Primary School Secondary The Charter School Bermondsey The Charter School East Dulwich The Charter School North Dulwich Surplus/Deficit Actual - - - - - Budget 46,095 16,250 29,845 3,326 8,579 7,368 3,553 12,924 - 9,535 12,785 - 64,977 11,774 9,497 43,706 114,398 Variance 24,053 17,296 6,756 80,427 20,760 2,428 11,044 55,699 13,210 - 3,707 71,267 - 76,060 67,379 - 79,948 - 33,212 70,148 33,546 36,601 83,753 29,339 9,796 14,597 42,775 3,675 9,078 6,290 87,834 57,882 36,242 147,610 The budget has been revised to include the extra income that we are receiving, that had not been budgeted. This means the overall TCSET target for 2024/25 is 1.8m. The main adverse variances are at; CED The adverse position is caused by a catch up of music peri costs ( 19k) & inclusion support ( 19k) & exam fees coming through earlier than forecast ( 23k). CND The main issue is the exam fees coming earlier than forecast ( 88k). SWP The adverse variances are down to extra agency staff & catch up of curriculum support costs.

Feb 25 Year to Date (YTD) Figures represent the surplus/deficits By school Schools Central Charter Institute The Charter Schools Educational Trust Primary Charles Dickens Primary School Dulwich Hamlet Junior School Loughborough Primary School Lyndhurst Primary School Streatham Wells Primary School The Belham Primary School Secondary The Charter School Bermondsey The Charter School East Dulwich The Charter School North Dulwich Surplus/Deficit Actual - - - Budget 232,386 49,646 182,740 242,777 58,551 34,421 21,318 54,122 22,936 51,429 524,581 31,623 266,705 226,253 999,744 Variance 24,996 20,260 4,736 73,460 - 62,661 - 15,063 - 19,572 23,816 40,749 - 1,624 148,392 - 119,518 278,719 - 10,810 196,855 - Table opposite contains the summary of the surplus/deficits v the budget for Feb 25 YTD. 257,382 69,906 187,476 169,317 4,110 19,358 40,890 77,938 17,813 53,053 376,189 151,141 12,014 237,063 802,889 Overall the YTD position is a surplus of 802k but is adverse to the revised budget by 197k. The adverse positions are due to; CED This is mainly from the pupil number adjustment ( 155k) & the overspend on other expenditure ( 237k). CDP The main issue has been the downward revision of the 3rd party income (lettings) has cost 103k YTD. DHJ The main issue has been over spend on agency costs for support staff. SWP The main issues have been agency costs ( 22k) & curriculum support costs ( 9k) & catering costs ( 12k).

Accounts by Cost Line Within the month of Feb the main adverse area was other expenditure adverse 125k. This is mainly the early exam fee recognition for CED & CND - 111k. Feb 25 (Month) Actual Revised Budget Variance 4,043,952 3,180,040 749,514 114,398 Total INCOME Total Staffing Expenditure Total Other Expenditure Surplus / (Deficit) excl. Capital 4,239,547 3,216,723 875,214 147,610 - - 195,595 36,683 125,700 33,212 Feb 25 (Month) In the year to date (YTD) view the main focus continues to be on bring the overspends on the other expenditure back in line with the budget. See slides 5 & 8 for more detail. Actual 24,843,690 19,141,120 4,899,681 802,889 Revised Budget Variance 24,459,372 19,066,562 4,393,066 999,744 INCOME Staff Cost Total Other Expenditure Surplus / (Deficit) excl. Capital 384,318 74,558 - 506,615 - 196,855 -

Other Expenditure The table shows a trend by school of the variances to budget for other expenditure. School Central Charter Institute The Charter Schools Educational Trust Primary Charles Dickens Primary School Dulwich Hamlet Junior School Loughborough Primary School Lyndhurst Primary School Streatham Wells Primary School The Belham Primary School Secondary The Charter School Bermondsey The Charter School East Dulwich The Charter School North Dulwich Total Dec 24 YTD Jan 25 Mth Feb 25 Mth Feb 25 YTD - - 8,303 139,083 4,621 116,490 - 2,488 25,957 - - - - - - - - - - 6,170 3,365 - 72,080 51,484 131,680 54,347 47,850 21,338 Note - - - - - 35,851 21,489 106,601 32,527 16,122 29,095 28,387 1,588 26,127 - 14,498 - 15,676 - - - - - - - 7,134 1,608 23,492 4,308 17,230 4,711 The costs for Feb 25 have again been adverse to the budget however the majority of the 125k can be explained by the early recognition of the exam fees at CED & CND - 111k. That aside the rate of over spending is reducing but we are not yet starting to stay within budget or as is required reduce the rate of spend to track back towards the original budget. 952 - - - - - 61,474 95,946 8,315 313,461 16,479 88,340 28,449 67,454 - - - 34,362 53,284 127,363 - 125,700 - - 43,591 237,571 107,229 506,615 Note LOU didn t join TCSET until 1 Oct.

Current Forecast Feb 25 Revised Bud 24/25 42,263,424 3,573,936 3,044,777 48,900,137 25,852,068 6,864,320 3,764,336 38,372,640 2,097,414 2,820,232 2,432,037 8,732,777 47,105,417 1,794,720 FORE 24/25 41,974,322 4,294,876 3,163,215 49,460,633 25,842,604 6,630,908 1,057,538 3,771,685 584,403 1,224,510 39,111,648 462,792 2,403,543 3,061,418 2,815,439 396,038 279,550 111,469 9,643,301 48,754,949 705,684 Variance - - - - - - - - - - - - 1,649,532 - 1,089,036 - Jan 25 FYF 41,962,148 4,262,729 3,077,688 49,325,624 26,019,067 6,841,426 1,001,718 3,813,252 576,462 920,131 39,172,056 462,326 2,333,577 3,039,847 2,788,723 473,694 274,550 111,185 125,664 9,708,376 48,880,432 445,192 Variance to Jan 25 - - - - - - - - - Currently the full year forecast (FYF) is showing ADVERSE 1089k for the year against the revised budget. A0 - GAG funding A2 - Other Govt Grants A3 - Private Sector Funding A4 - Other Income Total INCOME B0 - Teaching Staff B1 - Educational Support Staff B2 - Premises Staffing B3 - Admin Staffing B4 - Other Staff B5 - Agency Staff B6 - SLT Staff Costs Total Staffing Expenditure C0 - Maintenance of Premises C1 - Other Occupational Costs D0 - Educational Supplies and Services E0 - Other Supplies and Services F0 - ICT Costs (Non Capital) G0 - Staff Development G1 - Indirect Employees Expenses H0 - Other GAG Expenses L0 - Direct Revenue Financing Total Other Expenditure Total EXPENDITURE Surplus / (Deficit) excl. Capital 289,102 720,940 10,220 118,438 560,496 9,464 233,412 78,860 7,349 43,655 939,330 12,174 32,147 5,161 85,527 135,009 176,463 210,518 55,820 41,567 7,941 304,379 18,000 28,220 23,059 In month the FYF has increased from 445k in Jan 25 to 705k. 978,678 628,058 285,180 The staff adverse forecast - 739k is explained as being a smaller issue. The focus remains on bring down the other expenditure adverse 910k. - - - - - 739,008 90,264 306,129 241,186 383,402 40,666 31,925 2,888 29,736 74,868 910,524 60,408 466 69,966 21,571 26,716 77,656 5,000 284 17,966 93,456 65,075 125,483 260,492 372,528 436,704 247,625 108,581 110,580 107,076 80,844 32,208 98,810

Staffing by school Staff Cost Variance 78,504 - 65,341 47,144 - 22,845 256,667 - 16,090 - 25,056 - 122,983 - 45,977 209,407 - 117,320 - HNF - 1085 Inclusivity Finds - 1070 DFE new funds NI costs Nursery Expansion Adjusted Variance BPS CDP DHJ LOU LPS SWP CED CND CSB CET CHI 22,740 33,948 15,000 - 74,512 109,188 37,252 - 42,696 - 16,560 - - - 17,367 - - - - - - - 38,397 99,289 58,148 78,865 30,893 53,342 25,056 20,559 157,073 193,346 27,912 3,996 18,492 - - - 15,558 101028 - 132,000 72,000 54,238 22,536 16,061 - - - - 89408 Total 739,008 - 162,000 189,504 89,408 125,760 - 71,308 Overall the Trust can explain or justify the majority of the variance. The overage in CET arises because of the centralisation of the HR team. Note we have also included the National Insurance rise (for some schools) from April 25. The DFE have explained the 5-16 funding but not for EY & 16+. Some schools definitely won t be covered & there will be an annualised extra cost for the Central teams of 39k.

Other Exp Variances explained Nominal 5125 - Whole School Subscriptions 5000 - Catering 5101 - Teaching School Expenditure 3210 - Electricity 4300 - School Fund Expenditure 4135 - Curriculum Support 5601 - Research School Expenditure 3250 - Rates 5120 - Photocopying / Printing 5151 - Audit/Internal Audit 4010 - Consumables 4150 - Examination Fees 3000 - Building Projects 4137 - Peripatetic Music Curriculum Costs 3105 - Cleaning Contract 5310 - IT Managed Services Sum of Total B Sum of Total F 227,508 1,376,169 2,688 494,012 60,000 235,069 - 71,652 119,256 - 2,556 402,660 20,004 349,008 833,484 264,708 Sum of Total V 140,132 - 136,166 - 132,147 - 122,028 - 108,480 - 100,913 - - - - - - - - - - - Jan FYF Variance - - - - - - - The main issue for our delivery of the budget continues to be keeping to the other expenditure budget. The adverse variance has decreased since last month by 65k. 367,640 1,512,335 134,835 616,040 168,480 335,982 81,804 146,821 192,971 62,700 56,232 455,664 72,267 400,416 878,432 307,605 366,971 1,499,835 134,841 554,253 131,976 372,417 81,800 146,821 197,973 55,200 56,232 455,664 56,796 400,416 878,432 307,605 669 12,500 6 61,787 36,504 36,435 81,804 75,169 73,715 62,700 53,676 53,004 52,263 51,408 44,948 42,897 4 This is the first positive move in the year however as we saw in the in month & year to date numbers there continues to be overspends which calls into question whether the full year forecasts are too optimistic. - 5,002 7,500 - - 15,471 - - - I would encourage all schools to consider when close down spend for the year (except for contracted services & key spends)? Note last year, as we don t have good usage of purchase orders, the lag in closing took a few months to have impact, so starting now would probably finally show benefit in June. Note we need to do this asap as the amount of cash being paid out on other expenditure in the last 2 months has been accelerating. Other 4,274,003 3,853,077 420,926 4,011,144 158,067 Total 8,732,777 9,643,301 - 910,524 9,708,376 65,075 Either way - work needs to continue to pull these costs back & to better understand the contractual commitments.

FYF Variances by School Revised Bud 24/25 Feb FYF 24/25 - - Variance - - - - - - - - - - FYF Jan 25 - - - - - Var to Jan FYF - - - 118,700 - - Comments BPS the change around here has been driven by 4 maternities, extra agency spend & the adverse impact ( 17k) of the DFE free breakfast trial. CED - 0.3m adverse PNA/ 40k cross charge from CND for 23/24 power CET overstatement of other expenditure, 70k. This will be corrected in March. CHI 2 income accruals from 23/24 should not have been made, 45k. Plus RS has agreed to take more staff cost from CDP for a project - 40k. CND driven by overspends on other expenditure & agency staff. CSB Greystar billed 50k for old rental, Southwark charged 19k for 6 year old services. BPS CDP DHJ LOU LPS SWP CED CND CSB CET CHI 61,262 82,773 60,958 42,636 64,877 42,300 466,726 422,288 63,548 342,261 145,091 32,296 49,257 422 78,429 11,538 23,332 77,545 245,551 75,538 222,408 105,036 93,558 33,516 60,536 35,793 53,339 18,968 389,181 176,737 139,086 119,853 40,055 52,168 10,635 796 3,810 68,498 16,644 41,155 256,156 165,160 233,489 71,489 84,464 59,892 374 82,239 56,960 39,976 10,605 89,622 11,081 33,547 Total 1,794,720 705,684 1,089,036 - 445,192 260,492 All schools continue to work through plans to close the gap to the revised budget. Now the revised budgets are in it is clearer to see the challenge that each school has. Currently only 1 school is on target Loughborough. Overall we are ADVERSE to the revised budget by 1.1m.