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Tertiary education organisations (TEOs) must: Not seek or obtain funding from any other Crown source to fund the same part of the TEO's activities funded by the Tertiary Education Commission (TEC), unless authorised by the TEC Notify the TEC immediately the TEO becomes aware of any circumstances that might result in a breach of this condition.
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Rule or condition
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Where funding is owed by a tertiary education organisation (TEO) to the Tertiary Education Commission (TEC), it will be recovered by one or more of the following methods: A reduction in the next payment due If the next payment due is not large enough, then the TEC will also issue a 'letter of demand' for the remaining funding to be repaid Set-off against any funding or money payable to the TEO …
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Rule or condition
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Every tertiary education organisation (TEO) to which funding is payable by the Tertiary Education Commission (TEC) must, if required on reasonable grounds, satisfy the TEC that the TEO's financial viability or other circumstances: will not put funding paid to the TEO at risk are not such that payment of funding to the TEO may not be justified.
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Rule or condition
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In relation to monitoring, private training establishments, 'other tertiary education providers', 'rural education activities programmes', and schools must: Make available any financial reports, statistical, or other information necessary to demonstrate compliance with any condition attached to any funding, at the request of the TEC* Inform learners when they enrol that their records may be…
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Rule or condition
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Every tertiary education institution (TEI) must: Include in the financial statements required under section 41 of the Public Finance Act 1989 a Statement of Service Performance (SSP) of the institution as compared with the institution’s objectives and performance measures and targets specified in the TEI's Plan covering that year. This includes a SSP reporting on Special Supplementary Grants…
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Rule or condition
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Tertiary education institutions (TEIs) must comply with the accountability and reporting requirements as detailed below. This does not limit any accountability and reporting requirements a TEI may have under its Investment Plan agreed with the Tertiary Education Commission (TEC). The TEI must: Supply Statements of Service Performance and financial viability reporting in accordance with sections…
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Rule or condition
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Private training establishments (PTEs) must supply any financial, statistical, or other information requested by the TEC or the Ministry of Education, in accordance with section 159ZD(1) or section 159YC(1) of the Education Act 1989 - see Funding Eligibility Requirements for PTEs. This does not limit any accountability and reporting requirements a PTE may have under its Plan or any funding…
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Rule or condition
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'Other tertiary education providers' (OTEPs) must supply any financial, statistical, or other information requested by the Tertiary Education Commission (TEC) or the Ministry of Education, in accordance with section 159ZD(1) or section 159YC(1) of the Education Act 1989. This does not limit any accountability and reporting requirements that an OTEP may have under its Investment Plan or any…
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Rule or condition
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Rural Education Activities Programmes (REAPs) and schools must comply with the accountability and reporting requirements as detailed below. This does not limit any accountability and reporting requirements specified in the Investment Plan or any funding agreement the REAP or school has with the Tertiary Education Commission (TEC). The REAP or school must: Supply any financial, statistical, or…
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Rule or condition
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In relation to monitoring, tertiary education institutions (TEIs) must: Make available any financial reports, statistical, or other information necessary to demonstrate compliance with any condition attached to any funding, at the request of the Tertiary Education Commission* Inform learners when they enrol that their records held by the TEI may be accessed for monitoring and evaluative purpose…
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Rule or condition
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Tertiary education institutions (TEIs) must submit their financial statements together with the required financial performance indicators to the TEI Financial Monitoring group (TEI FM) TEIs must use TEI FM’s electronic template.
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Rule or condition
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Private training establishments (PTEs) and 'other tertiary education providers' seeking funding, or a continuation of funding, must provide the Tertiary Education Commission with the following: Company Registration Certificate, Certificate of Incorporation or other recognition of legal status New Zealand Qualifications Authority (NZQA) registration and accreditation – PTEs must obtain…
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Rule or condition
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When a tertiary education organisation (TEO) fails to remedy a compliance breach within the timeframe set by the Tertiary Education Commission (TEC), the TEC may, without limiting its rights under any funding agreements with the TEO, do one or more of the following: Suspend funding for a period that the TEC considers appropriate Recover funds on demand or off set against any funds payable by th…
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Rule or condition
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The following are situations when a PTE must contact the Tertiary Education Commission (TEC) Service Centre: Cancellation of New Zealand Qualifications Authority registration and/or accreditations and/or approval – notify the TEC immediately Liquidation/receivership of PTE, or when the PTE's financial viability may be affected – notify the TEC immediately Change of ownership or governance - see…
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Rule or condition
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Private Training Establishments (PTEs) must comply with the accountability and reporting requirements as detailed below. This does not limit any accountability and reporting requirements a PTE may have under its Investment Plan or any funding agreement with the Tertiary Education Commission (TEC). The PTE must: Supply any financial, statistical or other information requested by the TEC in…
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Type:
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Rule or condition
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The following are situations when an 'other tertiary education provider' (OTEP) must contact the Tertiary Education Commission (TEC) Service Centre: Cancellation of Quality Assurance Body registration and/or accreditations and/or approval – notify the TEC immediately Liquidation/receivership of the OTEP, or when the OTEP's financial viability may be affected – notify the TEC immediately Change …
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Rule or condition
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Rural education activities programmes (REAPs) are required to report on Tertiary Education Commission funding in their annual accounts audited by the Office of the Controller and Auditor General.
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Rule or condition
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Once Tertiary Education Commission funding is confirmed, community groups must submit a set of financial accounts audited by an independent Chartered Accountant for their most recent 12-month financial-year period before the application for funding. This set of financial accounts must include the following reports and statements: TEO Director (or equivalent) Attestation Statement of Financial…
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Rule or condition
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Tertiary education organisations (TEOs) must contact the Tertiary Education Commission (TEC) in the following situations: Any loss or damage to records that might affect the TEC’s ability to audit the TEO Changes in circumstances that may impact on funding eligibility Change in circumstances that may affect the TEO's ability to meet the conditions of the Investment Plan agreed with the TEC or t…
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Rule or condition