The Minister responsible for tertiary education issues the CoREs funding mechanism. It sets out the purpose of the fund and gives authority to the Tertiary Education Commission (TEC) to administer the funding.

A tertiary education organisation (TEO) that hosts a CoRE is funded off-Plan via a funding confirmation letter.

CoREs funding is paid in quarterly instalments. 

A TEO that receives CoREs funding is required to:

• comply with the requirements of the Education and Training Act 2020, and
• comply with the conditions specified in its funding confirmation letter.

The funding of CoREs supports growth in research excellence and the development of world-class researchers in areas of existing excellence that are important to New Zealand’s future development. The funding subsidises the costs of operating each centre as well as the cost of carrying out the CoRE’s strategic research programme, and other activities that support its strategy.