Each institute receives its annual funding in two separate tranches - paid in January and August.
- Institutes who have annual funding of less than £10,000 are paid 80% of their ordinary grant in January, with the remaining 20% paid in August.
- Institutes who have annual funding of more than £10,000 are paid 50% of their ordinary grant in January, with the remaining 50% paid in August.
Please note if an institute holds more than 12 months operating costs (as per their annual financial returns) they will have their second tranche grant reduced.