Customising funding settings

Customising funding settings



You can use funding settings to determine how child funding works in relation to session scheduling and term times.
  1. In the top right, go to  > System Settings.
  2. Click on Terms/Funding on the left.
  3. Click on Funding Settings in the top right to open a pop-up.
  4. The settings for maximum funded hours a week are designated separately for children who are Term Time Only, and children who have Stretched Funding (also known as Equally Spread or Annualised funding).
  5. Under each heading, fill out Max funded Hours/Week for Universal Entitlement, Extended Entitlement for each funding type. This will limit how much funding you can allocate to children.
  6. Fill out Maximum Funded Hours/Day for all funding types.
  7. Only if you have invoices set to Equally Spread in Invoice Settings, you can select an option for Funding Calculation:
    1. As per weekly funding hours:  This means funding will be calculated based on the sample week used in calculating Equally Spread invoices. Weekly Funded Hours * Calculation Factor = Monthly Funding Reduction.
    2. As per average of academic year: This calculates funding based on the total funding allocation for the academic year, split equally across the months.
  8. Select an option for Funding Allocation on the invoice:
    1. As per sessions: This means that funding will be calculated based on the rate of the session. For example, if a child is booked in from 8am-6pm (10 hours) at a session rate of £80, then the funding rate will be £8 an hour (£80/10 hours).
    2. As per funding rates: This means that funding is applied based on the funding rates assigned to the child's term. As a result, the calculation for the Amount (£) charged per session is ((Session Attended Hours * Hourly Session Rate) - (Session Funded Hours * Funding Invoice Rate)). Selecting this option also lets you choose between Funding Rate As Per Actuals (meaning rates are applied according to For Invoices funding rates for the current term), and As Per Average (meaning rates are calculated according to the average rate of all terms in the academic year).
    3. Average of actual sessions: This means that the funding rate is set to the average of all actual sessions in a week. As a result, the calculation for the Amount (£) charged per session is ((Session Attended Hours * Hourly Session Rate) - (Session Funded Hours * Average Hourly Session Rate)).
  9. Tick the box next to the options you want:
    1. Funding Applicable on Weekend: This option allows weekend sessions to receive funding.
    2. Round Off Entitlement: Checking this option means entitlement should always be rounded to the nearest whole number.
    3. Enable Extra Sessions: Checking this option gives you the ability to mark a session as ‘Extra’, meaning it won’t be funded. 
    4. Apply Discount to Funding Rate: Checking this option applies a discount (as established on the child profile) to the funding rate.
  10. Click Update Settings.

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