Nine headteachers say their schools are together projected to lose more than £850,000 over the next two years, as fears about funding in schools is debated in Cumbria.

The nine leading figures in primary schools across Penrith have written a letter explaining that they are "all experiencing severe pressures".

In it they say: "In our cluster of nine schools alone, we are projected to lose about £434,000 per year by 2019.

"We will work hard to ensure that cuts have the least possible impact on teaching. However, rising costs and a frozen budget mean that tough decisions will have to be taken. We cannot guarantee that such cuts will not impact on teaching, despite our utmost to prevent this."

The letter issued this week comes ahead of a public meeting tonight (WED) at Ullswater Community College, Penrith where parents and others have the opportunity to hear more about the issue.

A similar meeting, organised by the county branch of the National Association of Head Teachers union (NAHT), was taking place at Caldew School, Dalston last night (TUES) .

The Penrith Hub cluster headteachers raised their concerns in March with MP Rory Stewart, who went on to meet with schools minister Nick Gibb.

The National Audit Office has warned that £3bn of school savings must be found.

A proposed new national funding formula, which aims to make the allocation of funds fairer, "will not bring the benefits that we had hoped to see", the heads say.

Signatories on the letter, which has been circulated widely on social media, are Beaconside's Nick Page; Sharon Sanderson, at Brunswick School; Sarah Threlkeld-Brown, head of Clifton School; Culgaith's leader Lynn Harrison; Toinette Thomas, teacher in charge at Lowther Endowed School; Mike Pincombe, who is headteacher of North Lakes School in Penrith; Angela Hill, head of St Catherine's; Shap headteacher Anne Maud; and June Venus, who is headteacher at Yanwath Primary School.

They say: "Our school leadership teams in our local area have been grappling with the funding challenges, leading to a number of tough decisions being made over spending, including future staffing levels.

"Every school's situation is different but we are all experiencing severe financial pressures."

The NAHT union has said that Cumbria's education system could lose £23 million by 2020.

Tonight's public meeting starts at 6pm.