What would happen if scholls ran out of money?
Well, initially I think all the nice to have resources would go. Printed work sheets, consumables for science/DT/art. Glues and scissors would not be replaced. Your child's time at school would be more boring, but they probably wouldn't suffer tooo much educationally.
But that's really only a tiny part of the school's budget. Most of it goes on staffing. So, chances are, supply teachers would be used less, staff asked to cover on PPA, TAs and non teaching staff asked to do cover etc. It wouldn't be ideal and there would probably be times when the school has to partially close because they can't make it work.
And then they look at long term costs - TAs being cut, larger class sizes (especially for lower sets), less pastoral staff, less support staff. Which is when children's education really begins to suffer. But this has all been happening for years and years anyway.
A lot of school budgets have nowhere to flex, but we are having to pay for sanitiser and cleaning products and masks plus lots of supply.
So next year, it's highly likely we will lose science lessons from the timetable, as it's an expensive subject to run. And that (in my opinion) really does hurt the kids.