Operational funding payments

Information about quarterly instalments of the operations grant and changing bank account details.

We pay your school’s operational funding quarterly in a bulk grant by direct credit to your board of trustees’ bank account.

The funding year starts on 1 January and ends on 31 December.

We pay your quarterly funding instalments in advance at the beginning of each funding period. We do this to make sure that, when an entitlement is adjusted up or down, your board receives 100% of its entitlement for the current year, in the current year.

Operational funding: quarterly instalment timetable

Instalment paid first working day of:

Period covered

Number of months

Percentage of remaining entitlement paid

January January to March 3 months 25%
April April to June 3 months 33.3%
July July to September 3 months 50%
October October to December 3 months 100%

How to change your bank account details

If you need to change the bank account we pay your operational funding payments into, you must fill out the ‘Change of bank account’ form and send it to us.

Download the change of bank account form [DOC, 43 KB]

Send your form to:
Finance Division
Ministry of Education
PO Box 1666
Wellington

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