Funding and payments

Funding and payments

Last updated 21 July 2020
Last updated 21 July 2020

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 responsible for tertiary education. The funding mechanism outlines the general form and essential components of the fund. It provides the mandate for us to allocate the funding and what the funding can be used for, and details how we administer the fund.

Funding is agreed through a tertiary education organisation's (TEO’s) Investment Plan (Plan).

A TEO that receives funding from the Search and Rescue (ACE) Fund is required to:

Funding rate

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

Funding is agreed via a funding agreement. 

Search and Rescue (ACE) allocations for 2021 have increased to accommodate a 1.6% increase in course funding rates.

We determine the amount of Search and Rescue (ACE) funding for a TEO.

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

How we will calculate any recoveries for 2019 ACE Search and Rescue funding

We will recover funding if you deliver less than 100% of your allocated ACE Search and Rescue funding. We will recover the difference between the value of actual delivery and 100% of allocated ACE Search and Rescue funding.

Recoveries are based on:

Your most recent actual delivery volume data (measured by actual hours), submitted through Workspace2 (IPI)