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            "text": "Licensing Deficits",
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                    "text": "A school must apply for a licensed deficit if it is unable to produce a financially balanced budget. (Application forms will be emailed to schools this week)"
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                    "text": "A licensed deficit is the amount agreed by the school and the Local Authority, which the school allowed to overspend in the current financial year.",
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                    "text": "Only the financial year 2024-25 deficit will be licenced."
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                    "text": "The approval is be based on the three-year recovery plan and the detailed action plan provided."
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                    "text": "A school cannot assume that approval will be automatically given.",
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                    "text": "If a request for a license deficit is declined, the local authority will contact the Head Teacher and the Governing Body to discuss the next steps."
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