Appropriation, Funding Received from DEST

Approving Authority:	Council
Establishment Date:	26 March 1997
Date Last Amendment:	3 April 2002
Nature of Amendment:
Date Last Reviewed:
Publication Reference:
Contact Officer:	Director, Financial Services

5.1	Introduction The University’s major source of funding is from grants provided by the Commonwealth Department of Education, Science and Training (DEST) in accordance with the Higher Education Funding Act, 1988. Key categories of grants are: Operating; the largest component is provided primarily on the basis of student numbers with the relatively minor influence of adjudged research. It is utilised for two purposes vis: – the recurrent component which provides for the mainstream activities of teaching and research, the provision of administrative support for those activities, and minor capital works where the cost of individual projects does not exceed $250,000; and – the capital component which provides for major construction on capital works. Research and special purpose; funds earmarked for specified activities. In addition to DEST funding, there are significant contributions from other government departments and from other sources which are held in specific grants accounts and special purpose funds.
	Principle
	The University is committed to optimising its funding by achieving the prescribed levels of enrolment, demonstrating a high commitment to successful and effective research, and maintaining the highest standards for the purpose of quality funding allocations
	Procedure
	5.1.1 Operating grant funding levels based on enrolments are advised by DEST, and grant funding is determined on the outcome of successful grant applications. 5.1.2 Funding is received in fortnightly instalments and advices are checked for accuracy. 5.1.3 Grant receipts are monitored by the Budget Section to ensure that the receipts are in accordance with the prescribed grant components initially determined, plus allowances for subsequent adjustments. 5.1.4 Funds are allocated to the major cost areas: Faculties; Central Administration; University Library; Utilities/University-wide; University Research budget (URB). 5.1.5 Allocations are made in accordance with approved methodologies within the limits of available resources. 5.1.6 Receipts of each grant component/type are recorded discretely, and matched to the expenditure to ensure that: funding is applied to the purposes for which allocations are provided; the preparation of expenditure acquittances are as required by the legislation under which grants are initially made; appropriate reporting and disclosure in the university's annual financial statements is in accordance with accounting standards and DEST reporting requirements. 5.1.7 Capital funds are applied in accordance with project planning. The capital funding component of the DEST operating grant is supplemented by allocations from recurrent funding, and the capital component of the international student full fee income.