The total sum now sitting in schools’ bank accounts is £6m more than the previous year, according to latest figures received by Oxfordshire County Council’s cabinet. Michael Waine, the cabinet member responsible for schools improvement, is now demanding answers for the dramatic rise. Headteachers at schools with excessive bank balances will be ordered to attend a meeting with councillors and senior officers, where they must either give a good reason for holding back funds or be ordered to spend it....