This is not grant driven acedemia. This is the PSF, not encumbered with layers of beurocracy, audits and regulation. An expectation of a turn round time of a few weeks is entirely reasonable
Apparently, the two decision making bodies in the PSF for this matter have once-a-month meetings. This means any problem or missing information or whatever will delay the process for at least a month. So, maybe not a year, but 6-9 months would be a comfortable timeframe. I stand by it: 4 months before the event is WAY too late, and even with a slim organization, 3 months to get a decision is an absolutely reasonable time.