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The growing interest in the performance of public services by citizens and public authorities force public service organizations to seek justification in the use of public resources. The public also require reassurance that public services provide value for money. This reflects the need for a comprehensive measurement and assessment of performance in the utilities sector. The selection of appropriate performance indicators is a key process in managing and monitoring the performance. However, this requires the participation of those organizations which this measurement concerns. The aim of the study is to present a proposal of possible performance indicators in public grammar schools in Slovak Republic based on the Value For Money concept. This study uses a positive approach and is based mainly on the original survey data from own research. The analysis is conducted by using Delphi method. The outcome of the study, in the form of a proposal for possible performance indicators, is enriched by feedback from education professionals and school heads. The proposal of possible performance indicators can be an initial outline of appropriate performance indicators for the model for measuring and assessing the performance of public grammar schools in the future. It can also be an inspiration for other public service organizations in how to set appropriate performance indicators in relation to their objectives. The total number of performance indicators that will enter into the construction of the model of measuring and evaluating the performance of public grammar schools is 25 indicators.