Half of Lewisham schools could be in the red by 2019, a council report has revealed.

At a meeting of Lewisham Council schools forum, a budget report showed finance experts in the council are forecasting half of schools will finish the financial year 2019/20 with a deficit.

The report, by the council’s group finance manager for children and young people Dave Richards, shows that already 13 schools are forecasting to be in a deficit at the end of the financial year.

On top of that, six other schools are at risk of going into deficit, which is already a quarter of the borough’s schools in financial hardships.

A lot of the concern stems from the Government’s new national funding formula, as well as a lower than expected number of pupils in the borough.

Mr Richards said: “The funding of schools still causes concern. While the Government have confirmed that no school will lose under the national funding formula next year, we still await further details.

“It is expected that inflation will need to be managed, as will the unexpected reduction in pupils in Lewisham.

“Currently there are 19 schools either forecasting to end 2017/18 with a deficit or whom are at risk of such a deficit. That is one in four of our schools. The forecasts indicate by 2019/20 if no management action is taken, it will be one in two.”