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Spent up

I was surprised to see that my school appeared in fifth place in a list of schools with "reserves" of Pounds 500,000 or more (TES, February 3).

This balance was the direct result of the governors selling off land to fund the building of a much-needed sports hall. This money has been spent and the sports hall will open in April. Our actual contingency balance at April 1, 1994, was in fact Pounds 35,000.

D A HORSEFIELD

Headmaster

Ashton-on-Mersey School

(Grant-maintained)

Sale, Greater

Manchester

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