Managing Funding Rates

This page will guide you through managing funding rates in Pigeonhole. Funding rates are essential for calculating accurate estimated funding allocations for your nursery.

Funding Rates Overview

The Funding Rates page provides a comprehensive list of all configured funding rates by academic year. From here, you can view existing rates, add new ones, or edit current entries to reflect changes in local authority funding levels.

The main list displays the following information for each funding rate:

Year: The academic year for the funding rate, displayed in the format “25/26” (representing 2025-2026).
Rate (3/4 year olds): The hourly funding rate for children aged 3 and 4 years old.
Rate (2 year old): The hourly funding rate for eligible 2-year-old children.
Rate (under 2): The hourly funding rate for children under 2 years old (if applicable in your local authority).

Adding or Editing Funding Rates

When you click the “Add Funding Rate” button or the edit icon next to an existing rate, a modal will appear, allowing you to input or modify the funding rate details.

Funding Rate Fields

Year: Enter the academic year for the funding rate (e.g., 2025). Years are always the start of the academic year, so for rates in the academic year 2025-2026, use 2025 as the year.
Rate (3/4 year olds): Enter the hourly funding rate for 3 and 4-year-old children as provided by your local authority.
Rate (2 year old): Enter the hourly funding rate for eligible 2-year-old children.
Rate (under 2): Enter the hourly funding rate for children under 2 years old (if your local authority provides this).

Important Notes

Local Authority Rates: Always use the exact rates provided by your local authority for each academic year.
Annual Updates: Funding rates typically change each academic year, so ensure you add new rates before the start of each academic year.

The funding rates you configure here will be automatically applied when calculating funding allocations and generating finance information for your nursery.