A funding formula is a method used to determine how much money will be allocated to a particular program, organization or initiative. It typically involves a set of calculations that take into account various factors such as population size, economic need, and historical spending patterns in order to distribute funds fairly and equitably. The formula may also consider the specific goals and objectives of the funding program, and how it aligns with the overall priorities of the government or organization providing the funds. Ultimately, a well-designed funding formula can help ensure that resources are allocated in a way that maximizes impact and achieves desired outcomes.