Vernon Coaker Urges Some Schools to be Less Careful With Money

The Northern Echo reports reports that Schools Minister Vernon Coaker has warned hundreds of North East schools they may face "further action" if they don't stop 'hoarding' 'excessive' financial reserves. The General Secretary of NASUWT joined the call for smaller reserves, saying "this is not prudent financial management, as some would claim, but unacceptable stockpiling of public money."

'Excessive' is defined as being more than 8% of a primary school's budget or 5% of a secondary's.