The Education (School Financial Statements) (Prescribed Particulars etc.) Regulations 1990
Section 42 of the Education Reform Act 1988 requires local education authorities whose financial provision for county and voluntary schools maintained by them is subject to regulation by a scheme made under section 33 of that Act to prepare before the beginning of each financial year a statement of the financial provision they plan to make for those schools in that year (a “budget statement”) and after the end of each financial year a statement of the expenditure actually incurred for the purposes of those schools in that year (an “outturn statement”).