National funding formula: a summary

Understand which factors are included in the national funding formula (NFF), and what the current transitional state of the NFF means for your school.

Last reviewed on 9 May 2024See updates
School types: AllSchool phases: AllRef: 34002
Contents
  1. How the formula works
  2. You're not guaranteed the initial figures published by the government
  3. Your funding is still based on your LA's local funding formula during the transition stage
  4. Your funding can fluctuate each year

This article is for mainstream, state-funded schools in England, and summarises the national funding formula (NFF) 2024-25 policy paper and the schools block technical note, picking out the key points you need to know.

The NFF is in a transitional state. Read more about what this means below.

How the formula works

The NFF is the series of building blocks the DfE uses to work out your school’s core funding allocation.

Each summer, the DfE publishes a ‘notional budget’ at school level, but the end amount your school receives might be different (see below to find out why).

The structure of the NFF is summarised in this diagram:

NFF 2024

You can see the unit values, total funding and proportion of funding

The Key has taken great care in publishing this article. However, some of the article's content and information may come from or link to third party sources whose quality, relevance, accuracy, completeness, currency and reliability we do not guarantee. Accordingly, we will not be held liable for any use of or reliance placed on this article's content or the links or downloads it provides. This article may contain information sourced from public sector bodies and licensed under the Open Government Licence v3.0.