Funding and payments
Funding and payments
Funding applications will be assessed based on the following criteria: In the allocation of funding, the TEC will also assess the financial needs of providers based on the information submitted in their financial statements and the proposed plans on the use of funding requested. Please note, if your PTE is eligible to apply for funding, approval of your request is not guaranteed. Limited funding is available, so applications will be assessed and prioritised based on their assessment against the above criteria. We pay funding for successful applicants in instalments, as specified in the funding letter. We only pay funding after the funding letter has been signed and returned to us. The PTE TAF Funding will be paid out in two equal instalments in October 2020 and in February 2021, unless an alternative payment schedule is agreed between the TEC and the provider. The TEC will pay the second instalment on the receipt of the first report outlined in our funding letter and conditions. For further information, refer to the Monitoring and Reporting section below. PTEs that receive funding are required to comply with: Funding must only be used for the activities specified in the funding letter. If the PTE receives funding that was greater than it should have been, or that it was not entitled to receive, we will recover the extra funding. This may include:Funding assessment
Payments
Funding recovery