How Are Schools In The UK Funded?

Most schools in the United Kingdom are funded through a common fund which is a combination of income sources, council tax, business rates, local government settlements and government grants. Most schools also take open donations from people who are willing to help raise the fund of the school from their personal wealth. Some such people are the parents of one of the pupils of the school itself. These parents become the trustees or home parents according to the kind of donations they make. School's budgets are a part of the county council budget of each county. Each school has an individual budget and joint budget which is centrally managed by the authorities. Each county has a school funding scheme which is made each year. This document consists of the financial rules and regulations and the formulas used to allocate funds to schools.