21 Proposed Changes to Early Years Funding Formula for 2015/16 PDF 129 KB
Minutes:
Report ED15119
The report outlined proposals for a full review of the Early Years formula, including consultation with all stakeholders, in the light of changes within the authority and within the remit of Early Years funding. Officers were proposing the following changes –
In addition, as Early Years settings in Bromley had received no increase to their base rate since it was introduced in 2009, the Forum was asked to consider a growth bid for £500,000 from within the DSG, representing a 3% increase, and options for distributing this money. Reservations were expressed about the need for transitional support for any settings losing money under the revised arrangements.
It was noted that some of the elements in the formula were different for Private, Voluntary and Independent (PVI) settings and Maintained settings. In particular, the quality element for PVI settings was dependent on suitably qualified staff and an excellent rating, which with Ofsted changes was likely to be harder to achieve. Maintained schools received a lower base rate to reflect that they did not have the same rent and rate liabilities as PVI settings.
It was recognised that investing in very young children would potentially have an impact throughout their school careers, but it was suggested that the Forum needed more information to understand the broader picture.
RESOLVED that the Forum’s comments be taken into account.