Funding and payments

Funding and payments

Last updated 15 March 2019
Last updated 15 March 2019

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 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

How we will calculate any recoveries for 2018 ACE Search and Rescue funding

We will recover funding if you under-deliver in 2018

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 delivery volume data (measured by EFTS), submitted through the Single Data Return (SDR).

We will calculate your actual delivery at a rate of $8400 per EFTS (GST exclusive).