The publication of outturn statements at the end of each financial year allows actual net expenditure to be compared with budget allocations adjusted to include supplementary allocations and allocations from excepted items and the contingency provision.
The outturn statement also indicates balances to be carried forward into the subsequent financial year by individual schools. Underspends increase the resources available to schools in the subsequent financial year, while overspends have to be recovered out of the subsequent year's allocation and, in effect, reduce the amount available for spending in that year.
