The Condition Improvement Fund looks to improve school buildings and expand academies and sixth-form colleges rated Good or Outstanding by Ofsted.
This year's applications will be subject to new criteria which will favour bids from schools with good governance and organised finances – including showing restraint on executive salaries.
The strengthened criteria will incentivise academies and trusts to improve finances and governance. Bids are assessed on a point based criteria and applicants will get a four-point deduction if they pay two or more salaries in excess of £100,000 or one salary over £150,000, and have failed to take appropriate action in response to our high pay challenge.
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This new launch of funding follows the Prime Minister's announcement confirming the budget for schools and high needs education would be increased by a total of over £14 billion over three years, rising to £52.2 billion by 2022-23.
Education Secretary Gavin Williamson said: "This government is determined to give all children the best possible education, but as well as great teachers, we want all pupils to learn in classrooms that enable them to gain the knowledge and skills they need for success.
"Following our huge investment in school funding with an increase of a total of £14 billion over three years, this year's multi-million-pound fund will support our pledge to create more good school places and continue raising standards."
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