YG024: TEO to repay overfunding
If the TEO receives Youth Guarantee funding that is greater than it should have been, or that the TEO was not entitled to receive, the TEO must treat the amount of overfunding as a debt due to the Crown that:
a) is repayable on demand; and
b) may be set-off against all or any funding, or any sum of money payable by the TEC to the TEO.
Definition of funding that is greater than it should have been
For the purposes of this condition, and without limiting the meaning of "was not entitled to receive ", a TEO will have received funding that was greater than it should have been:
a) if there is a difference between the value of EFTS delivered by the TEO (as reported in the December SDR) and the amount of funding approved in the TEO’s Investment Plan (in that situation, the TEC will recover all unused Youth Guarantee funding up to 100% of the amount of funding approved in the TEO’s Investment Plan); or
b) if the TEO has claimed funding in respect of a student in breach of condition YG011, YG013, or YG014.
For the avoidance of doubt, over-funding will be recovered for all components of Youth Guarantee funding, including any transport assistance funding.
3 March 2016
3 March 2016