Funding and payments

Funding and payments

Last updated 28 March 2017
Last updated 03/28/2017

Funding for Search and Rescue (SAR) Adult and Community Education (ACE) provision is allocated in equivalent full-time students (EFTS).

Funding

The Search and Rescue (ACE) Fund funding mechanism is issued by the Minister for Tertiary Education, Skills and Employment. The funding mechanism outlines the general form and essential components of the fund. It provides the mandate for the TEC to allocate the funding, what the funding can be used for, and details how we administer the fund.

Funding is agreed through a TEO’s Investment Plan (Plan) (i.e. it is on-Plan funding). A TEO that receives funding from the Search and Rescue (ACE) Fund is required to:

Funding for Search and Rescue (ACE) is set through the government’s annual budget process.

We allocate funding to a tertiary education organisation (TEO) for Search and Rescue (ACE) provision at a fixed rate of $8,400 per EFTS (GST exclusive). One EFTS is the learner workload that would normally be carried out by a learner enrolled full-time in a single academic or calendar year.

Payment

We pay funding for Search and Rescue (ACE) provision in monthly instalments on the first banking day of each month.

Payment amounts are equal from January to June, and equal from July to December.

Funding recoveries

We are required under the Adult and Community Education funding mechanism to recover funding where the results of an audit, reporting or statistical return shows a TEO has under-delivered against expected performance targets as described in their agreed Investment Plan.

See Condition: Repayment of SAR (ACE) Fund funding.

Recovery of Search and Rescue (ACE) funding is based on our assessment of the TEO’s final report for the funded calendar year.

Unused funding is determined using Single Data Return (SDR) reported volume of actual delivery at course level, compared to the volume of planned delivery that the TEO was funded for.

Where the TEO has under-delivered, we recover the difference between the TEO’s actual delivery and 100% of the funding given to the TEO.