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:

• comply with the requirements of the Education and Training Act 2020, and

• comply with the conditions specified in its funding approval documents.

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.

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.

The methodology and technical specifications for the calculation of 2022 funding wash-ups can be found in the 2022 Global Wash-up Methodology document.

2022 Global Wash-up Methodology (PDF, 1.1 MB)