Surplus/Deficits Summary for Jan. 25 Management Accounts

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

Jan 25 Management Accounts Figures represent the surplus/deficits By school Table opposite contains the summary of the surplus/deficits v the budget for Jan 25. Revised Budget - 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 Grand Total Actual - - - - - - - - - Variance - - - - - 246,751 - - 165,740 - 74,217 - 263,729 - 80,713 31,644 112,357 18,566 20,607 6,563 5,079 8,295 6,166 1,395 147,830 3,970 121,289 30,511 85,683 46,095 16,250 29,845 33,030 8,579 7,368 3,553 5,005 9,535 1,010 98,921 10,764 44,451 43,706 178,046 34,618 47,894 82,512 51,596 29,186 13,931 1,526 3,290 15,701 2,405 The budget has been revised to include the extra income that we are receiving, that had not been budgeted. Note there are a couple of issues on the phasing for some schools that will be resolved next month. This means the overall TCSET target for 2024/25 is 1.8m. The main adverse variances are at; CHI This is due to the unwinding of 2 income accruals in 23/24 that were not valid ( 45k). CED This is the impact of the pupil number adjustment being overstated by 0.3m in the budget. This will not now be received & the impact in Jan to bring the numbers up to date is 130k. Further CND have passed across 38k relating to power they paid in 23/24 for CED s sports hall. CND is adverse mainly due to 70k miss on the high needs funding to bring the year to date (YTD) into line with the full year expectation. Note it did not impact the FYF for CND. 6,794

Jan 25 Year to Date (YTD) Figures represent the surplus/deficits By school Revised Budget Table opposite contains the summary of the surplus/deficits v the budget for Jan 25 YTD. 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 Grand Total Actual - - Variance - 153,888 - 83,421 - 17,491 - 31,882 - 27,539 - - 77,124 - 43,458 211,340 - 90,758 230,068 - 187,235 36,360 150,875 85,563 33,449 9,562 26,293 35,164 14,138 62,131 382,480 63,307 45,868 273,305 655,278 186,291 33,396 152,895 239,451 49,972 27,053 17,765 67,046 13,401 64,214 459,604 19,849 257,208 182,547 885,346 944 2,964 2,020 Overall the YTD position is a surplus of 655k but is adverse to the original budget by 230k. 8,528 The adverse positions are due to; CED mainly reflects the in month impacts from Jan. CDP, is still pulling round the impact of reducing the 3rd party income adverse 82k YTD. LPSis one of the schools that needs it s budget phasing changed in reality they are ahead of their budget YTD. SWP the move back to budget was impacted by the need to exit a member of staff in month. 2,083

Accounts by Cost Line Jan 25 (month) Actual 3,886,486 3,189,361 782,808 85,683 - Revised Budget Variance 4,054,884 3,161,484 715,354 178,046 Within the month of Jan the main adverse area was income due to the combined impact of the pupil number adjustment shortfall at CED ( 130k) & the truing down of the high needs funding income at CND ( 70k). INCOME Staff Cost Other Expenditure Surplus / (Deficit) 168,398 - 27,877 - 67,454 - 263,729 - Jan 25 (YTD) In the year to date view the main focus continues to be on bring the overspends on the other expenditure back in line with the budget. Actual Revised Budget Variance 20,415,420 15,886,522 3,643,552 885,346 INCOME Staff Cost Other Expenditure Surplus / (Deficit) 20,604,142 15,924,397 4,024,467 655,278 - - - 188,722 37,875 380,915 230,068

Other Expenditure The table shows a trend by school of the variances to budget for other expenditure. Revised Bud variances Dec 24 YTD 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 Jan 25 Mth - - 8,303 139,083 4,621 116,490 Note In month there has been a switch from CND to CED of cost. This represents CND having being charged through 23/24 for the power at the CED sports hall. The adjustment in month has been 38k for the 23/24 cost. The favourable variance on CET in Jan 25 is due to the true up of the Central Services Contribution and the cross charge for the centralised HR services ( 80k). - - 35,851 21,489 106,601 32,527 - 16,122 - - - - - - - 29,095 28,387 1,588 26,127 14,498 15,676 952 - - - - 61,474 95,946 8,315 313,461 - - - 16,479 88,340 28,449 67,454 Note LOU didn t join TCSET until 1 Oct.

Current Forecast Jan 25 Currently the full year forecast (FYF) is showing ADVERSE 1.35m for the year against the revised budget. Category 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 Revised Bud 24/25 42,263,431 3,573,947 3,044,781 48,900,159 25,852,070 6,864,320 3,764,336 38,372,642 2,097,414 2,820,231 2,432,037 8,732,778 47,105,420 1,794,739 FORE 24/25 41,962,148 4,262,729 23,059 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 98,810 125,664 9,708,376 48,880,432 445,192 Variance 301,283 - 688,782 32,907 425,465 166,997 - 22,894 23,040 - 48,916 - 51,596 634,951 - 799,414 - 89,798 - 236,163 - 219,616 - 356,686 - 36,990 - 26,925 - - 11,772 18,588 - 975,598 - 1,775,012 - 1,349,547 - Dec FYF 49,419,276 25,842,507 6,702,645 1,007,419 3,824,451 660,348 894,406 38,931,776 401,486 2,390,394 2,975,600 2,705,502 510,328 274,550 110,398 120,260 9,555,853 48,487,629 931,647 Variance to Dec 24 - - - - - - - - - - - - - - - - 42,196,699 4,030,623 20,011 3,114,790 234,551 232,106 3,048 37,102 93,652 176,560 138,781 5,701 11,199 83,886 25,725 18,000 5,059 We have also seen the FYF drop from 931k in Dec 24 to 445k in Jan 25. The primary cause of this CED was the shortfall on their pupil number adjustment 0.3m which will not be received. 978,678 628,058 285,180 - - - - - 240,280 60,840 56,817 64,247 83,221 36,634 372,528 Note we expect 70k of this to be restored in February as we have overstated the other expenditure in CET. 436,704 247,625 108,581 110,582 107,076 - 2,604 787 67,335 31,475 5,404 152,523 392,803 486,455 The staff adverse forecast - 799k is explained as being a much smaller issue. The focus remains on bring down the other expenditure adverse 975k.

Staffing by school Staff Cost Variance - - - - - - - - - High Needs Funds - 1085 - 1/2% funded DFE NI Costs Nursery Expan Adjusted Variance - - - - - BPS CDP DHJ LOU LPS SWP CED CND CSB CET CHI 16,268 10,364 42,642 21,412 212,271 9,694 97,464 131,776 78,221 157,430 85,424 22,729 33,948 3,996 41,905 109,188 46,416 6,719 10,794 6,696 5,148 7,784 4,185 34,730 31,722 13,778 4,235 2,350 6,396 19,576 55,106 31,950 68,465 13,145 51,925 62,734 59,162 41,673 153,195 13,074 7,416 101,028 - 129,000 93,000 30,216 13,116 - 70,000 Total - 799,414 387,350 128,141 70,000 57,144 - 55,751 Overall the Trust is close to the staffing budget or the variances are explicable/justified. 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 committed to explaining the funding in March. We expect the impact to be net neutral.

Other Exp Variances explained Nominal 5125 - Whole School Subscriptions 4135 - Curriculum Support 5101 - Teaching School Expenditure 5000 - Catering 5601 - Research School Expenditure 5120 - Photocopying / Printing 3250 - Rates 4300 - School Fund Expenditure 3210 - Electricity 5151 - Audit/Internal Audit 4010 - Consumables 3005 - Repairs & Maintenance 4150 - Examination Fees 4137 - Peripatetic Music Curriculum Costs 3105 - Cleaning Contract 4500 - Counselling 7030 - Provisional Write Off 5310 - IT Managed Services Revised Bud 24/25 FORE 24/25 Variance 139,463 - 137,348 - 132,153 - 123,666 - 81,800 - 78,717 - 75,169 - 71,976 - 60,241 - 55,200 - 53,676 - 53,404 - 53,004 - 51,409 - 44,948 - 44,784 - 43,530 - 42,897 - DEC FYF 1,473,054 45,650 206,931 146,821 115,664 633,608 38,508 379,876 445,664 379,189 878,435 102,864 42,000 305,960 Var to DEC 24 41,112 - 20,983 26,781 - 36,150 - 16,312 - 79,355 16,692 - 56,232 - 13,008 - 10,000 - 21,227 - - - 227,508 235,069 2,688 1,376,169 366,971 372,417 134,841 1,499,835 81,800 197,973 146,821 131,976 554,253 55,200 56,232 392,884 455,664 400,416 878,432 102,864 43,530 307,605 325,859 393,400 134,841 The main issue for our delivery of the budget continues to be keeping to the other expenditure budget. The adverse variance has increased since last month by 157k. - - 119,256 71,652 60,000 494,012 8,958 - - 2,556 339,480 402,660 349,007 833,484 58,080 - The main impacts have been the extra 70k in the CET forecast (to be reversed in Feb 25) plus the emergence of old bills for CSB, 50k rental invoice & 19k Southwark psychology service. 3 - - 1,530 1,645 264,708 Other 3,896,449 3,528,662 367,787 3,502,525 - 26,137 Without these items the forecast would have held steady. Total 8,732,778 9,708,376 - 975,598 9,550,849 - 157,527 However work needs to continue to pull these costs back & to better understand the contractual commitments.

FYF Variances by School Surplus / (Deficit) BPS CDP DHJ LOU LPS SWP CED CND CSB CET CHI Revised Budget FY FORE - - - - - Variance to Bud - - - - - - - - - - Dec 24 FYF - - - - Var to Dec FYF - - - - - Adverse movements to Dec 24 FYF 61,278 82,773 60,958 42,636 64,882 42,300 466,726 422,286 63,548 342,261 145,091 52,168 10,635 796 3,810 68,498 16,644 41,155 256,156 165,160 233,489 71,489 9,110 93,408 60,162 46,446 3,616 58,944 507,881 166,130 228,708 108,772 73,602 12,092 13,934 53,895 30,524 67,847 8,045 287,518 169,418 41,043 344,818 181,305 40,076 3,299 54,691 26,714 651 24,689 328,673 86,738 124,117 111,329 109,816 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 February. 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 CSB Greystar billed 50k for old rental, concerns around SQUIDCARD going bust 30k, Southwark charged 19k for 6 year old services. Total 1,794,739 445,192 - 1,349,547 931,647 - 486,455 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 Lyndhurst. Overall we are ADVERSE to the revised budget by 1.35m.