The Ministry of Education has released a clarification statement saying that the reports about funding cuts for top independent schools are inaccurate.
MOE had recently conducted a funding review for independent schools and in fact, some schools had their funding raised.
There were 6 schools all together which will receive more funding in 2014 and only 4 schools getting a slight funding cut.
The schools getting a funding cut will see no more than a 3% reduction while those getting more funds will receive between 1 to 5% more.
The main thing that was changed was the funding formula. Previously. The funding was based on the number of students meaning larger schools got disproportionately high funding.
With the new funding formula, there will be a more even spread of funds between schools.
On top of this, MOE advised that schools should reduce their fundraising activities and ensure that their resources are being used in the more efficient ways.
One of the ways schools can do this include the reduced use of aircons so that energy costs can be reduced.