Funding follows the child and the national standard for early learning and childcare providers: guidance on criteria 7 - business sustainability

A term used to refer to financial statements, that is, the income statement and balance sheet, and often the cash flow statement.

Assignation is the process by which ownership of the rights and obligations made in a contract is transferred under Scots law.

A continuity plan contains information relevant in the event of an emergency or closure of the service. This is similar to a Contingency Plan required by the Care Inspectorate.

Contract Standing Orders are specific to each local authority and ensure that uniform contracting procedures are used. They promote consistency, transparency, fair opportunity and equality of treatment.

COSLA, the Confederation Of Scottish Local Authorities,is the voice of Local Government in Scotland. They provide political leadership on national issues, and work with local authorities to improve local services and strengthen local democracy.

A reference from a credit agency gives insight into a business’s financial stability, based on analysis of a business's credit information.

Indicates the availability of working capital.

A term used to include planning in the event there is a serious issue with the setting's ability to perform the service required. For example, flood, fire or electricity failure.

The relevant legislation defines early learning and childcare as: “a service consisting of education and care, of a kind which is suitable in the ordinary case for children who are under school age, regard being had to the importance of interactions and other experiences which support learning and development in a caring and nurturing setting.”

The European Single Procurement Document replaced the Standard Pre-Qualification Questionnaire (sPQQ) and it is mandatory to use the ESPD (Scotland) for all Route 3 procurements which begin on or after 18 April 2016.

Where a requirement is deemed to come under Light Touch Regime of the regulations, the mandatory exclusion grounds (regulations 58(1) to (3) of Public Contracts (Scotland) Regulations 2015) must be applied to all procurements. An organisation can also choose to apply the discretionary exclusion grounds and can choose to use the ESPD (Scotland) for this purpose without amending the questions, and it is a matter of best practice to do so.

The financial regulations and associated procedures provide the financial governance and accountabilities for a local authority in relation to the overall financial management of the local authority.

The hours of funded ELC provision for children which are funded through the local authority up to the statutory entitlement of 600 hours per year or (from August 2020) 1140 hours of funded ELC per year for all 3 and 4 year olds and eligible 2 year olds.

An ELC setting which meets the National Standard, has entered into contract with the local authority and offers the ELC funded entitlement to children.

A calculation that indicates the extent to which a business is funded by debt.

Any organisation offering ELC provision

registered with the Care Inspectorate under

daycare of children or childminding registrations.

This calculation indicates the liquidity level of a business.

Ratio analysis involves using calculations and interpretation of key financial performance indicators to provide information on a business' financial health.

This calculation indicates profitability in terms of the overall capital invested in the business

A charity and membership organisation that provides support, training and information to childminders in Scotland.

The Centre of Procurement Expertise for the local government sector. Their services are designed to help local authorities meet the twin challenges of reducing budgets at a time of growing demand. Collaborative procurement increases efficiency and ensures money is saved to protect front line services. By working together through Scotland Excel, local authorities work to realise a host of social, economic and environmental benefits from their spend. 

A group established in 2017 to bring together Scottish Government, COSLA and local authorities to work in partnership to develop Funding Follows the Child and the underpinning National Standard for ELC providers.

Any service offering ELC provision registered with the Care Inspectorate under daycare of children or childminding registrations.

The hourly rate that is paid to funded providers in the private and third sectors and childminders to deliver the funded entitlement.

The rate will support delivery of a high quality ELC experience for all children; reflect the cost of delivery, including the delivery of national policy objectives; allow for investment in the setting – staff, resources and physical environment; and enable payment of the real Living Wage for those childcare workers delivering the funded entitlement.