State schools in England will have to find £3bn in savings by 2019-20, says the public spending watchdog.
Schools face 8% budget cuts and about 60% of secondary schools already have deficits, warns a funding analysis from the National Audit Office (NAO).
The Department for Education is about to launch a new funding formula, which will see 10,000 schools gaining money and similar numbers losing.
To ease the transition, those losing will have annual cuts limited to 1.5%.
Education Secretary Justine Greening will reveal later on Wednesday how the different funding rules will be applied – with suggestions that it could mean reduced budgets for schools in inner London.
Schools face cuts of £3bn, says watchdog – http://www.bbc.co.uk/news/education-38301843