Glossary
Tolerance
The margin by which delivery may fall short of an allocation without the funding being reduced.
In full
Some funding arrangements include a tolerance: a percentage of the allocation that may go undelivered without triggering a reduction.
Tolerance levels are set out in the funding rules for the year and stream, and should never be assumed to have carried over from a previous year.
Where this comes up
module
Adult Skills Fund: earning, evidencing and reconciling
An allocation you have to earn, with eligibility that must be evidenced before you claim, and a reconciliation at the end that can reduce what you keep.
module
Building a funding map for your college
A funding map sets out every stream a college receives, how each is earned, when it reconciles and what data drives it. It is the fastest way for a finance or leadership newcomer to become useful.
module
Reading an allocation statement
What an allocation is, which elements are formula-driven, which are lagged, and what to reconcile it against.