More than ten schools in Greenwich are on the verge of falling into a deficit, a new report claims.

There are already five schools in the royal borough that filed a negative budget last year.

The number of schools in the red nationally is at a nine year high, with 14 in nearby Lewisham facing similar financial pressures.

In papers prepared for a school’s forum meeting next week, it is revealed that 11 schools face a shortfall on top of five already below the line.

Officers said: “The report notes that whilst there has been an overall increase in surplus of £1,954k, out of 61 schools, 45 have surpluses of over five per cent. Five schools are in deficit, with 11 schools in a borderline position.”

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A deficit balance means that the school has spent more than the funding it has received.

While a school may set its own budget, the council is ultimately responsible for each school’s budget and its performance.

Schools continue to face pressures in their budgets from salary increases, contract price increases and paying into the apprenticeship levy.

The Department for Education has made a commitment to support funding for teachers’ pay increases and pensions nation-wide.

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Greenwich officers say that several schools had difficulty balancing their books this year.

The report continues: “Schools are working towards a three to five year planned budget strategy.

“Schools remain prudent on spend recognising the scale of pressures facing schools over the next few years including a two per cent pay rise in teaching costs, an increase in pension costs from September, an increase in inflation and a recognition that most schools are now on minimum funding guarantee.

“It should be noted that schools are working effectively with both their governing bodies and Royal Greenwich to consider long term planning.

“One key reason for the increase in balances is the caution that schools are working with, mindful that pressures for 2019/20 and onwards includes significant unfunded pressures.”