Currently, the Department for Education (DfE) gives academies money from its central resources budget to help them run the services that councils provide for maintained schools.
But the government has decided to start raising part of this cash for academies by cutting the "formula grant" it gives to local authorities – by £148m in 2011/12 and £265m in 2012/13.
A spokesman for the DfE said: "It is not possible to say precisely which schools in which local authorities will convert to academy status."
This, he said, means the £400m cash has to be "top-sliced" from all council budgets – regardless of how many academies are in an area.
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