ANYONE embarking on a major new project in the their lives or careers will experience feelings they might categorise as excitement or anxiety. The distinction between these states is not always clear. They merge. They swing one way. They swing the other. It is all perfectly natural.

Thus it is understandable if headteachers are, in the words of Education Secretary John Swinney, feeling “a mixture of excitement and anxiety” over new financial responsibilities. Earlier this year, Mr Swinney announced a £120 million Pupil Equity Fund to help improve standards in schools and close the attainment gap between rich and poor areas. The more disadvantaged the area, the more money goes to the school. And the more responsibility the headteacher has for how this is spent.

Hence, in some circles, the anxiety (and, in some circles, excitement). The idea is that headteachers know best about what is needed in their schools. The concern is that being a good educationist and being financially astute aren’t always qualities compatible in all individuals. The hope is that most will manage.

The real concern for headteachers might come in proving it. This is a flagship policy for the Scottish Government. Ministers will want to see a return. They will want evidence the attainment gap is being closed, even if it would be absurd to place all responsibility for that on headteachers.

This is uncharted territory for everyone. The key will be that, as the project develops, so does a means of evaluating it, along with a system of checks and balances. For example, a balance might be necessary between what a school thinks is the right use of resources and what the wider community does.

Certainly, as Graeme Logan, strategic director at Education Scotland, said yesterday, it won’t just be about browsing through equipment catalogues. It’s more likely to be about dealing with issues such as attendance, literacy, and building bridges between home or community and school. To that extent, the fund provides an opportunity for improvement.