From April 2024, funding rates for PVI, childminders and maintained governor run provision is as follows:
- Under two year olds - working parent entitlement - £9.48 per hour, per child
- 2 year olds (Think2) and new working parent entitlement - £7.56 per hour, per child (previously £7.55 for Think2)
- 3 and 4 year olds, universal and extended hours - £5.08 per hour, per child. (previously £4.86).
Deprivation supplement rates for 3 and 4 year olds only will be as follows:
- £0.20 lower rate - (per hour, per child for every funded three and four year old in attendance) if between 10-32% of funded children reside in attendance with postcodes in the 20% most deprived areas. Settings eligible for this could have an hourly rate of £5.28 per hour for 3 and 4 year olds.
- £0.30 higher rate - (per hour, per child for every funded three and four year old in attendance) if between 33-100% of funded children in attendance with postcodes in the 20% most deprived areas. Settings eligible for this could have an hourly rate of £5.38 per hour for 3 and 4 year olds.
The Contingency fund will continue, this is to mitigate financial risk and to manage any unforeseen budget variances as a result of changes in demand. This will be c. 0.7% of the overall budget. Any unused contingency will be returned to the sector in the following year (subject to affordability).
Government guidance instructs local authorities that they must pass through at least 95% of their funding from the government to early years providers. The Staffordshire Early Education Funding rates for 2024-25 will ensure a budgeted funding pass-through rate of 98% to providers.