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Changes to the Early Years Single Funding Formula 2012/2013

Changes to the Early Years Single Funding Formula 2012/2013. Information, discussion and feedback. Context. The EYSFF was introduced as a statutory requirement in April 2010. Payment was based on participation over places

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Changes to the Early Years Single Funding Formula 2012/2013

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  1. Changes to the Early Years Single Funding Formula 2012/2013 Information, discussion and feedback

  2. Context • The EYSFF was introduced as a statutory requirement in April 2010. • Payment was based on participation over places • 2011/2012 was a 50/50 split from the old funding to the new formula – this will go to 100% in 2012/13 • Funding came from two streams • Dedicated Schools Grant (12.5hrs) and Standards Fund (2.5 hrs)

  3. Funding 2012/2013 • The standards fund has decreased leaving a funding gap of 2.4 million for 2012/2013 budget. • A paper went to Schools Forum detailing where potential savings could be found • 0.6m more coming from the DSG • 0.4m savings being made on the formula • Remainder coming from a central budget

  4. Proposed Changes to the Formula • The flexibility element will be removed • this is now embedded across all settings • SAVING 237K • The Band C (EYP) will be removed • This is no longer a statutory requirement. • SAVING £128K

  5. Changes to Formula • The QTS pay band will be reduced by 10p per hour • Maintained settings were nowhere near capacity many had less than 40 children on roll (Government guidance indicated 50 places was the breakeven point) The hourly rate was pitched so that settings with 45 children plus would see little or no reduction on funding, however with the increase of participation being evident across the majority of maintained setting to 50 a reduction on the QTS will see the funding remaining balanced within this sector • SAVING 98K

  6. Changes to the Formula • Increase the lowest PVI Band A by 4p per hour • INCREASE 10k • Increase in Band B 2p per hour • INCREASE 53K • Rationale • Increase in National Minimum Wage to £6.08 is impacting on this sector in particular. • VAT increases 20% to the PVI sector not applicable to schools • Higher Business Rates to PVI not applicable to schools

  7. Housekeeping • We will be introducing a Reclaiming Funding Policy that is awaiting agreement by Senior Leadership Team • There will be consultation around this with sector partners. • Suggestions is that this could be monitored by Audit staggered across all settings throughout the funded year. • Exceptions will be for children with disability, ongoing illness and GRT communities

  8. Housekeeping • Duplicate funding • Children who will be five between Sept 2006 and Aug 2007 should be in school due to single point of entry that commenced September 2011. • Parents can opt out of this but with agreement from the Headteacher and all children claiming three/four funding on the head count forms who are of school age will be checked to ensure that we are not double funding. • We will also be working with admissions to ensure that information is clearer around this to parents, providers and schools.

  9. Discussion Savings of 0.4 million must be found • Impact of these changes on your setting? • Impact of these changes on the childcare market in Cornwall? • What other changes could be made to make the savings needed? • What other housekeeping methods could we undertake?

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