Schools sitting on a cash mountain!

CALDERDALE schools have bank balances totalling £7.8 million – and the council wants some of it back.

The £100,000 this could raise might be used to target vulnerable children or help to pay for minor building work.

The Audit Commission recommends secondaries should hold no more than 5 per cent of their cash in reserve and in primaries no more than 8.

At the start of this year, 26 schools were projecting balances above the thresholds.

Schools with the largest reserves include: Ryburn Valley High £637,000 (9 per cent), Sowerby Bridge High £601,000 (9.7 per cent), Warley Road Primary £399,000 (16.7 per cent), St Malachy’s Primary £131,000 (15.5 per cent), Savile Park Primary £146,000 (13 per cent), Parkinson Lane Primary £287,000 (12 per cent), Heptonstall Primary £81,000 (19 per cent), Cross Lane Primary £182,000 (15 per cent) and Ash Green Primary £196,000 (9.6 per cent).

They will be asked to give details of how they intend to use this money or face having it clawed back at a rate of 20 per cent above the threshold.

But figures show six schools are in the red. St Catherine’s Catholic High School has an annual budget of £4 million and is expecting to end the year £75,000 overdrawn.