Industry Training Fund

• • Standard Training Measures

Standard Training Measures

The STM rate for 2011 was confirmed through Budget 2010.

Year	STM Rate (excl GST)
2008	$2,845
2009	$2,919
2010	$2,919
2011	$2,919
2012	$2,919 (indicative)

Calculation formula

STMs are calculated according to Rule ITO018[1].

The formula for calculating an STM payment is:

                           STM volume x STM funding rate = STM payment

The STM volume is calculated as follows: 

 

 

The number of enrolled credits for the year will reflect the total credits for the programme divided by the number of years expected for completion of the programme. The expected number of years for completion is initially specified by the ITO and must be approved by the TEC (see Rule ITO018[2]).

For example:

• A 180 credit programme is delivered over four years. This will result in 180/4 = 45 credits per year.
• 300 trainees enrol in this programme.
   

Total funding for the year is 112.5 x $2919 = $328,387.50 (excl GST).

STMs are calculated on the number of trainees in training at the end of each month (so, to be eligible for payment, a trainee must be “active” at the end of the month).

• [1]

  Rule ITO018: STM funding calculation and programme duration

  The number of Standard Training Measures funded per valid enrolment per year is the total number of credits in the programme divided by the average number of years needed to complete the programme ("duration"), divided by 120.

  The duration is initially nominated by the industry training organisation (ITO) when seeking funding approval from the Tertiary Education Commission (TEC) for the programme. It may be reset by the TEC in consultation with the ITO.

  If the average duration for trainees, as calculated at the end of any calendar year, is more than one month longer than the nominated average (and the TEC has not allowed an exception), the TEC may do either or both of the following:

  • use the actual average number of full months duration for calculating funding for that funding year, and recover excess funding
  • reset the programme duration, in line with the actual average duration, for calculating future funding.
• [2]

  Rule ITO018: STM funding calculation and programme duration

  The number of Standard Training Measures funded per valid enrolment per year is the total number of credits in the programme divided by the average number of years needed to complete the programme ("duration"), divided by 120.

  The duration is initially nominated by the industry training organisation (ITO) when seeking funding approval from the Tertiary Education Commission (TEC) for the programme. It may be reset by the TEC in consultation with the ITO.

  If the average duration for trainees, as calculated at the end of any calendar year, is more than one month longer than the nominated average (and the TEC has not allowed an exception), the TEC may do either or both of the following:

  • use the actual average number of full months duration for calculating funding for that funding year, and recover excess funding
  • reset the programme duration, in line with the actual average duration, for calculating future funding.