SCHOOLS are sitting on almost £9million given to them by central government to spend on teaching.

Figures examined by Oxfordshire County Council's cabinet yesterday showed schools had not spent £8.8m of their dedicated schools grant by the end of the last financial year.

The figure represented a drop from the £11.1m which was not spent in the 2014/15 financial year.

Schools have previously said they need to hold the money back in order to make sure they have enough to spend in the future.

But the county council has told them they should stop hoarding cash and should make sure it is spent on youngsters.

The revenue and capital outturn document which went before cabinet showed school balances overall had dropped to £20.7m at the end of the most recent financial year compared to £21.9m the year before.

The report said during the year schools with large balances have been challenged by the council and some of them had met with councillors as well as the authority's deputy director for education and learning to explain why they had such high balances and what they were going to do with the money.