CM Club: SIngle funding Formula has been implimented in our area

[Katymac]

Which is great news we are going to get £1.68 an hour more than before & £1.06 more than my standard P/T rates

Wow

This is great for us but I think I little disappointing for the local nurseries

Only I think it's a trial so we don't know how long it will last

Well I would ask what Single Funding Formula was but I googled it instead and came up with Implementing and Early Years Single Funding Formula: Practice Guidance July 2009 (1.4Mb PDF)

I think there can be different base rates for different provider types... is that the case Katymac, or has your area decided that all childcare providers regardless of provider category will be getting the same?

At least it's good news for you as you may now at least break even, may even make a profit.

I understand it is across all providers (but I could be talking through my hat)

If I was an EYP I'd get tonnes more

I particularly like this from that doc

"At one end of the spectrum, some pilot authorities took quite a narrow approach
to operating within the principles of the EYSFF ? paying childminders quite a low
rate, on the basis of a strict interpretation of their cost analysis of what it costs a
childminder to deliver the free entitlement. At the other end, some pilot LAs took
the approach of looking at what it ?should? cost a childminder to deliver the free
entitlement if they were treated on a comparable basis with a daycare provider
(so were paid for premises, for their low ratios, aspirational qualifications etc)
and consequently came out with a far higher rate.
It is our view that a LA?s approach to funding childminders should, so far as possible,
be the same as the approach to any other sector and stay in line with the principles
of the EYSFF, primarily that where a differentiated base rate is implemented, it is based
on the evidence shown from a LA?s cost survey and TCM. The cost analysis should
take into account the distinctive elements of delivering as a childminder ? the
impact on a childminders home of operating their business from it, the smaller
group sizes involved etc."