The Graduate Leader Fund (£305 million over the CSR period 2008-11) superseded the Transformation Fund on 1 April 2008. Information on the first year of spend (i.e. 2008-09) will be provided to the Department by local authorities through their audited financial statements in the autumn of 2010.
Guidelines on the Graduate Leader Fund guidelines were issued to local authorities in March 2008. The purpose of the funding is to support all PVI full daycare settings to employ graduate leaders of early years practice by 2015. In return, settings in receipt of funding commit to employing a graduate to lead learning and development within the setting in a reasonable time period.
The guidelines set out the Government's expectations as to how the fund should be used by local authorities in particular:
working with PVI providers to prioritise and allocate funding in ways which best match local demand;
passporting the grant to PVI providers;
providers being able to use funding as a contribution to salary costs and for further continuous professional development for graduates and those training towards becoming graduate early years professionals.