Purpose
This fund has supported ITPs and wānanga in making changes to their portfolio of provision. Once an ITP or wānanga has made the shift required, the usual funding sources (such as the SAC and the TEI Base Investment) are used to support the institution’s ongoing costs.
The principles for allocating Quality Reinvestment funding were as follows:
- Increasing alignment: the changes the institution is seeking will increase the alignment of its portfolio of provision with national priorities and national and regional skills, learning and knowledge exchange needs.
- Reinforcing an institution's core role and its specific contribution: the changes invested will reinforce and be consistent with an institution's core role and will strengthen its specific contribution to the national network of provision.
- Taking a network (portfolio) view: areas for investment will be considered and prioritised within the context of which ones will generate the greatest value in terms of the overall network of provision.
- Minimising deadweight investment: as far as possible, changes will not be funded where they could reasonably be expected to be funded by the institution concerned as part of their usual business operations.
- Considering sufficiency: investments were only made, where together with funding that the institution can make available itself, the funding is sufficient to cover the total cost of undertaking the proposed change.
The allocation of Quality Reinvestment capital funding was aligned to a set of similar principles, with additional rules and conditions related to a capital investment.