Under the delegated authorities agreement between the Department for Education and Skills and HM Treasury, capital projects of a value of £100 million or more are subject to HM Treasury approval.
Building Schools for the Future (BSF) is being delivered over 15 waves of investment. HM Treasury will approve the strategic objectives and outcomes for each wave of BSF.
Year One of Building Schools for the Future was 2005-06. This was the year in which the first large-scale investment became available for projects in wave one.