Financial monitoring framework overview
The Tertiary Education Commission implemented a new Financial Monitoring Framework in 2010. This framework allows a more transparent and consistent approach to monitoring the financial performance of tertiary education institutions (TEIs).
The framework is a key part of the overall risk assessment, determines the level of monitoring we undertake and influences the level of reporting required from tertiary education institutions. We use the framework to ensure our response to financial risk is appropriate, graduated and focuses resources on the areas of greatest need.
The framework used both historical reported performance and forward-looking forecast information supplied by tertiary education institutions. These measures are combined into an overall risk rating.
Read a full description of the financial monitoring framework (PDF, 637 Kb).
See a Financial monitoring framework example (Excel, 317 Kb).
We produce a one page summary report for each tertiary education institution when there is enough new information available – typically when tertiary education institutions provide us with audited results and three-year forecasts, although these can occur more frequently for moderate or high-risk TEIs.
Variable reporting based on TEI risk rating
Where the framework shows higher risk or that overall tertiary education institution risk assessments are higher, reporting requirements may increase.
We determine the appropriate level of monitoring for each tertiary education institution on a case-by-case basis. We may request more frequent and targeted reporting, for example, copies of council financial management records.
For any enquiries please email: firstname.lastname@example.org
23 July 2015
23 July 2015