SAC3+027: TEO to repay Skills for Canterbury (SFC) funding in certain circumstances

Type:
Condition

If the dollar value of the delivery of both the SAC-funded provision at level 3 or above on the NZQF and SFC-funded provision delivered by the TEO:

a)    together comprise less than 99% of the total SAC funding (i.e. excluding the SFC funding), the amount of overfunding that the TEO must repay the TEC is:

       i)   the difference between 99% of the total dollar value paid to the TEO for the SAC-funded provision and the dollar value of the SAC-funded provision actually delivered; and

      ii)   the total dollar amount of the SFC funding; or

b)    together comprise between 99% to 100% of the TEO's SAC funding, the amount of overfunding that the TEO must repay the TEC is the total amount of SFC funding; or

c)    is more than 100% of the SAC funding, and the dollar value of the SFC-funded provision is less than 100% of the total SFC funding, the amount of overfunding that the TEO must repay the TEC is the difference between 100% of the total dollar value paid to the TEO for the SFC funded provision and the dollar value of the SFC-funded provision actually delivered.

In each instance, the TEO must treat the amount of overfunding as a debt due to the Crown that:

a)    is repayable on demand by the TEC; and

b)    may be off-set against all or any funding, or any sum of money payable by the TEC to the TEO.

  • Last changed: 8 March 2016
  • Last verified: 8 March 2016