Compacts and Performance Funding
Mission Based Compacts and Performance Funding
The Department of Education, Employment and Workplace Relations (DEEWR) released the final Performance Funding administrative and technical guidelines in relation to the 2011-13 Mission Based Compacts on 6 September.
Performance Funding has two components – Facilitation Funding and Reward Funding.
Facilitation Funding of $94.2 million will be available each year from 2011 (indexed in later years) to universities that agree in a Compact, on strategies for achieving the university’s teaching and learning mission and agreement to targets relating to specific Australian Government attainment and equity goals. It will be distributed on the basis on each university’s share of the Commonwealth Grant Scheme (CGS) basic grant amount and the Grants to Support National Institutes.
Reward Funding of $27.6 million in 2012 and $128.0 million in 2013 will be distributed for universities that meet their Performance Funding targets for the two participation and social inclusion indicators (for students from low socioeconomic backgrounds and those from another underrepresented group) and, that participate in the development of five other indicators relating to student experience and quality of learning outcomes to establish baseline performance.