Thanks for your suggestions, across.
I can only speaks for my school, but in answer to your suggestions:
I don't know what "attendance money", so I can't comment on that. Truancy patrols were stopped last year here, to save money.
You would not believe the detail in our attendance monitoring. Trends are just part of it. We have one member of staff working almost exclusively on analysing the data and providing returns to the governors. Day to day, absences are broken down so we can see, for example, if a child always has certain days off or "broken weeks" (at least a day a week off).
We can provide flexi-schooling agreements for children who can't be in school. Children can have time off for family funerals. We also authorise the vast majority of holiday absences up to 5 days but it does depend on previous attendance. Some parents will still want more than this, though.
Work packs to take on holiday is a tricky one though. Teachers don't have time to translate lessons into worksheets nor mark the work on the child's return, when the rest of the class have moved onto a new topic. Not sure what the answer is to that but I know one school where the head asked parents to mark the work and send it back marked!
It's worth remembering that academies and free schools are tougher on attendance. Community schools like ours, less so. But none of us like being lied to, as is so often the recommendation on here when someone wants to take their child out of school for a duvet day.