Schools in Sussex will share an extra £15 million over the next two years in a desperate bid to prevent another cash crisis.
The Government has found £800 million in "unspent reserves" to be paid to education authorities in 2004/5 and 2005/6.
The lifeline is worth about £2.5 million per year for Brighton and Hove Council, East Sussex and West Sussex county councils.
But the Department for Education and Skills said no cash was available to help cash-strapped schools facing teacher redundancies this year.
In Brighton and Hove, parents have been warned to expect fewer teachers, larger classes and decaying facilities as schools try to plug a £6.3 million budget shortfall.
Letters explaining the funding crisis have already been sent out.
Council bosses in East and West Sussex have also warned of serious budget shortfalls.
In a Commons statement, Education Secretary Charles Clarke said no extra money would be made available this year.
But he promised every school would get a minimum per-pupil increase for the next two years to prevent a repeat of the crisis.
This will be guaranteed by cash from the DfES's unused funds, estimated to be £846 million last year. Mr Clarke said those "few" schools that could not get back into the black despite their best efforts were in line for "limited, transitional support".
He also said schools would be told their budgets earlier to allow them to plan ahead.
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