A REVIEW of School finances is being urged as fears are raised that more schools' finances will slip into the red.

At the Cabinet meeting on Tuesday, Audit Committee Chairman councillor, John Morris, urged education portfolio holder, Cllr Myfanwy Alexander, to hold a "state of the nation" review of school finances.

Cllr Morris said that the committee believed that school finances are "at risk".

Financial predictions for the next three years, show that all secondary schools and many primary schools would go over the financial cliff edge.

Figures predict that schools could be £6.5 million in the red by 2021.

Cllr Morris said: "We note that school budgets are tipping over into the red, although you (Cllr Alexander) are not reporting them as an issue in these areas because they are delegated.

"There is a risk there particularly in Secondary Schools.

"It would be useful if we had a 'State of the Nation' report on where we are with secondary and primary school finances.

"Primary schools have been ok until now, they have whittled down their reserves in order to be efficient primary schools.

"We need to understand that they will not go into the red like some of our secondary schools."

Cllr Myfanwy Alexander replied: "More than happy to do a state of the nation report.

"But there's some uncertainty about teachers' superannuation (pensions).

"There's a big question there whether it's going to contribute to budget pressure or whether there will be grant funding.

"The timing of that review needs to be cognisant of that so we have accurate figures. "

Cllr Alexander believed that the fairer funding formula which will be in place next year and having financial managers for clusters of schools would add to the resilience of school finances.

"Certain schools have a great deal of pressures but have very good financial managers and are able to manage their budgets," said Cllr Alexander.

She added that there was the problem that the quality of managing budgets varied around the county.

In June, the Cabinet was forced to agree deficit budgets for schools which they criticised for being in the red.

A new "Fairer Funding Formula" was out to consultation until October 26.

It has been seen as an antidote to the financial problems in schools.

However earlier this year Head of Finance, Jane Thomas, confirmed that the formula would not provide a new "money pot."