School financial benchmarking

What is financial benchmarking?

Financial benchmarking means comparing our school’s finances with other schools and academies who have similar characteristics and challenges, for example the proportion of children eligible for free school meals, or the number of pupils with special educational needs and disabilities (SEND).

Information that schools often compare with either schools of a similar size or within their Local Authority (LA) are;

• income
• expenditure
• school balances
• workforce statistics

You can view the our school’s financial data by clicking the link below, this will take you to a website where you will be able to compare LMPS’s financial and workforce data with similar schools in the local area and nationally.

Schools financial benchmarking – DfE

As of the 1st January 2021, it is a legal requirement to publish how many school employees have a gross annual salary of one hundred thousand pounds, in ten thousand pounds band ranges.

Each band can be represented by, A, B, C, D etc.
– Band A equals £100,000 – £109,999
– Band B equals £110,000 – £119,999
– Band C equals £120,000 – £129,999
– Band D equals £130,000 – £139,999
At Lady Margaret Primary School , 0 employees have a salary in the Band A – D range