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