The board is sponsored and funded by the Department of Education (DE) and the Department for Employment and Learning (DEL).
Capital funding is provided by the Department of Education for the construction of new schools and accommodation, for major upgrades or improvements to existing accommodation and for the purchase of furniture, equipment and vehicles.
Recurrent funding is provided by both Departments and is used to pay for the salaries and other running costs in schools and support services such as meals, transport and maintenance. Recurrent funding from the Department for Employment and Learning is used to pay for salaries and grant awards for students as well as costs of home to college transport.
The board accounts for its expenditure in a number of publicatinos. Resource allocation plans (RAPs) showing the amount allocated to each service are prepared at the beginning, during and at the end of each financial year. Annual accounts of expenditure to 31 March each year are prepared within several weeks of the year end.