AnonyMouse_61253 Posted July 5, 2017 Posted July 5, 2017 Hi ,I wonder how does everyone work out the funding hours ,we are open 51 weeks in a year for a full day 7.30-6? Is there a easy way of working this out?Thank you
AnonyMouse_30128 Posted July 5, 2017 Posted July 5, 2017 as long as you offer 1140 over the year I think you can split it whichever way you like! I guess you might want to look at your supply and demand and work out the low demand weeks and ensure those are funded! 1
FSFRebecca Posted July 6, 2017 Posted July 6, 2017 We add up the annual bill according to what sessions the parents want and subtract the funding then divide by 12 equal months. If they take addtional sessions during the year they pay ad hoc
AnonyMouse_30128 Posted July 6, 2017 Posted July 6, 2017 We add up the annual bill according to what sessions the parents want and subtract the funding then divide by 12 equal months. If they take addtional sessions during the year they pay ad hoc this is a really simple and effective solution...but if you do have less busy times you may be able to use your funding arrangements to protect your business in those times
AnonyMouse_12805 Posted July 8, 2017 Posted July 8, 2017 We add up the annual bill according to what sessions the parents want and subtract the funding then divide by 12 equal months. If they take addtional sessions during the year they pay ad hoc Rebecca, do you mean you subtract the funded hours? I have always understood you could not deduct the monetary value of these hours.
FSFRebecca Posted July 10, 2017 Posted July 10, 2017 It depends on how long the parents want to 'stretch' for - from an accounting point of view we deduct the £ but when it's calculated for the parents we work out how many funded hours they are taking each week, generally they are taking more than the 15 hours but stretched across 48/50/51 weeks they end up using fewer funded hours each week and paying for their addtional hours. An example might be: If a child does 3 days with us the 'actual' cost might be £150 for 33 hours, of this £59.10 is paid is the parents are taking the full 15 hours so there is £90.90 to pay each week for 38 weeks of the year and then £150 to pay for the other 13 weeks (we shut for a week at Christmas). £5404.20 per year/12 = £450.35 a month If that child is on a stretched offer then £150 x 51 = £7650 minus funding (2245.80) = £5404.20/12 = £450.35 a month, this works out to them taking 11.17 hours funded each week, every week and paying for the additional hours. The £ works out the same. If they stretch over 48 weeks for example: 48 x£150 = £7200, funding = £2245.80, balance to pay £4954.20/12 = £412.85 a month. This equates to 11.88 hours a week, every week We do say that parents can only stretch over actual session times - so we don't let them leave 1/2 way through a session because they're only taking 11.88 hours a week - that doesn't work!
AnonyMouse_59225 Posted July 19, 2017 Posted July 19, 2017 We open 8-6 and i've decided to offer 25 hours a week for 45 weeks, so we will have 2 weeks off at christmas, 2 weeks at easter and 3 weeks in the summer, we are open 51 weeks and quite often have children doing term time only so this will help keep us busier in some of the holidays and it's easier to manage the sessions as ours are 8-1 and 1-6. This means 5 mornings or 5 afternoons for each child.
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