Funding
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Thread: Funding

  1. #1
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    Default Funding

    From April 18th I will have my first funded child, i usually invoice at the end of each month in advance for the days so the bill varies month to.month. This child is term.time.only. I am unsure how i deduxt the funded hours. For example if the month ends on a tuesday - how do i split the 15 for that week between 2 invoices. I am feeling so stressed right now and hoping someone has the answer ha ha xx

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    It was all this stress that led to me stopping the funded hours. Complete admin nightmare, especially if you add in shared funding with another setting, dealing with funding calculated in terms when you normally deal with calendar months, and if you do stretched hours across 48 weeks etc.
    Sorry, not much help!

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    Hi
    I have funded children but parents pay in advance but the invoicing should still be the same. The funded hours should be allocated to set days so it should be easy to work out (You shouldn't just take 15 hrs of the bill each week) You have to agree with when the funded hours will be...our LA gives a parent form where they have to fill in the hours/days for the term.

    so here is an example of mine

    'S' has 5 hrs funded on a Wed/Thurs/Fri 8-1 but child actual is here until 4 so parents are invoiced for the hours 1-4

    Does that make any sense to you and help at all?
    Pixie Dust

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    At the moment I offer funding and I share care with a preschool. I do my bills termly as that is how my LA work out the hours to be funded. I calculate the hours anticipated for the whole term then deduct the funding hours and the amount of hours left I then multiply by the hourly rate agreed on the child's contract. I then divide the amount by the number of months that the invoice covers (April - July = 4 months so 4 payments due). Parents pay in advance. Your bill must show you deducting the funding hours. Hope this makes sense. Plus I always contact the preschool to say how many funding hours I'm taking. I work hard to maintain a good working relationship with them.

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    it amazes me how every LA is different, the parent/carer form we have has to be signed by both settings if child attends 2, we also have to send a sample copy of our invoice which has to state clearly the funded hrs so from earlier post my would say

    8am-1pm Funded hrs no charge then 1-4pm will have my current rate.
    Pixie Dust

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    Was at a meeting last night about the 30 hours and even the two people running the meeting were saying opposite things. Why on earth do they have to make the system so complicated.

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    My LA say we cannot 'deduct' funding - like Pixie we have to set the days say Thurs and Fri 7.5 hours a day. I then set hours for the day that are funded and charge a before and after funding charge . This charge is the difference between my daily charge and 7.5 funded .
    My invoice is monthly , not in advance. I log the daily charge/ before and after charge on the designated funded days. If Thurs And Fri fall in the next month I charge in the next month invoice.
    All fairly straight then forward.
    TheLA pay me termly so in advance of my monthly invoices. Money in the bank before due by parents.
    Last edited by FloraDora; 28-03-2017 at 04:52 PM.

  8. #8
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    wow thanks this has been so helpful
    So... i current have this particular child 29 hours. 10 on a tues 9 on a thurs and 10 on a fri
    can I say tues is funded and then 0730-1230 is funded and the other for 1230-430 i bill for and then i bill for the friday?
    This makes more sense to me as thrb if it cuts of on a wednesday one month then i would pick up the next month on the thursday. She is term time inly so over the 38 entitled weeks.

    How does that sound?

    thanks everyone!

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