News

Funding formula online calculator launched

A confusion-busting online calculator is helping settings work out what rates they may be getting when the new early years national funding formula is rolled out.

Users of the tool, created by Pre-school Learning Alliance, need only choose their local authority area before seeing their projected hourly rate appear.

This includes the average supplements for the area, as estimated by the Department for Education (DfE).

The calculation summary also highlights the expected impact of any graduated changes from 2017/18 until the final implementation in 2019/20.

To calm turbulence for settings, the DfE is not requiring councils to pay the full new rates immediately.

An Alliance spokesperson explained, ‘Crucially, the calculator lets providers know what rate they might receive next year if their local authority doesn't move to a universal base rate straight away (a change that is only required by 2019/20).

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