Calculating funding
Calculation steps
Determining SAC[1] funding:
| Step | Funding Calculation | Example |
| 1 | Assign the qualification an EFTS[2] value. | An institute of technology and polytechnic's Certificate in Communication Studies obtained through one full-time academic year’s study has a value of one EFTS unit. |
| 2 | Disaggregate the qualification into courses. | It comprises four courses. |
| 3 | Calculate the courses’ EFTS factors. | The EFTS value of the qualification is disaggregated among the four courses. Each course has an EFTS factor of 0.25 EFTS units (or other factors adding up to 1.0). |
| 4 | Classify the courses. | The classification prescription classifies this subject as number 03 and category A1 (non-degree with no research requirement). |
| 5 | Apply funding rates. | The funding rates table shows that the 2011 rate is $6,014 (excl. GST) per EFTS unit - see the relevant funding rates table. |
| 6 | Multiply the funding rate by the number of valid enrolments. | For 100 learners on each of the four courses, each course supports Investment Plan funding of $150,350 (excl. GST (0.25 x $6,014 x 100)). |
The course classification prescriptions are placed into categories (A, B, C, G, H, I, J, (K), L, M, N, O, P, Q, R, S, T and U). Funding category K is used for ACE[3] funding only.
A TEO's[4] total SAC[5] funding equals the number of EFTS in each funding category, as agreed in the Investment Plan, multiplied by the funding rate for each category.
There are reporting requirements regarding delivery of the agreed enrolments.
We may recover funding where there has been delivery of less than 97% of the provision agreed in the Investment Plan (known as under-delivery).
Relevant information to assist in calculating SAC payments includes: