Summary of the formula
The formula used to calculate your core funding is:
(Student numbers x national funding rate per student x retention factor x programme cost weighting + level 3 programme maths and English payment + disadvantage funding + large programme uplift) x area cost uplift
This is explained in section 3 of the funding guidance for young people 2024 to 2025 from the Education and Skills Funding Agency (ESFA).
Core funding elements
Student numbers This number is lagged, which means your student numbers are based on the number of young people you had in the previous academic year. For sixth forms and most academies, this will be the number of funded students captured in your autumn census. However, if there's a material change to your provision (e.g. exceptional in-year growth), you can be removed from this
