Investigation: Independent schools hoarding millions

According to TES, top independent schools are accumulating tens of millions of pounds of surpluses in a single year, worth several times the amount they spend on bursary schemes.

Analysis of accounts filed to the Charity Commission shows that six schools accumulated surpluses of more than £5 million in a single year, with one school – Brighton College, where older boarders pay over £39,000 per year – accumulating a surplus of £10.6 million.

Leading figures in other parts of the independent sector have called for schools to use any additional funds they have for bursary provision for disadvantaged pupils, describing this as a “moral imperative” for wealthy private schools.

David Woodgate, chief executive of the Independent Schools’ Bursars Association, said schools may build up surpluses to be financially prudent.

Read full article here Investigation: Independent schools hoarding millions

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