How should schools account for licensed deficit (loans) for revenue purposes under CFR?
If the school does not receive additional funding to cover the deficit, it will have a negative balance in B01 – Committed Revenue Balances. In these circumstances the school should include a note to the effect that the deficit has been licensed or authorised by the LA. If the school receives a revenue loan from the LA please refer to FAQ no.167 for guidance on how to map this in CFR. If any additional non-government funding is recieved, this should be recorded in I07- I13. Please refer to the school finance pack for more detailed guidance on these CFR codes.
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