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Source: Tertiary Education Commission

Last updated 3 February 2021
Last updated 3 February 2021

How we will calculate any recoveries for the Centres of Research Excellence funding at the end of funding period 30 June 2021.
How we will calculate any recoveries for the Centres of Research Excellence funding at the end of funding period 30 June 2021.

We will recover funding if the delivery or committed delivery reported in the CoREs final financial report, due 31 October 2021, is less than 100% of its total allocation over the six and a half year funding period.
We will recover the difference between the value of actual and committed delivery and 100% of allocated CoRE funding by 31 December 2021.
We will
recover funding not used, or committed, to be used at 30 June 2021 by the CoRE to perform its activities and research programme to meet the key milestones and deliverables specified in its agreed Plan.
calculate the recovery from the final CoRE financial report submitted after 30 June 2021.
recover the difference between the value of actual and committed delivery and 100% of allocated CoRE funding from the host University of the CoRE.
recover any underspend by 31 December 2021.
Note: Funding “not used” is any funding left over as at 30 June 2021 that the CoRE has not used to perform its activities and research programmes to meet key milestones and deliverables specified in its agreed Plan .
Note: Future commitments as at 30 June 2021 will be reported in the annual report submitted by 31 October 2021.
Note: Funding “committed” is any funding as at 30 June 2021 for which the university has committed to pay a third party under a contract; commitments to PhD students affected by Covid-19 to finish PhDs; or other negotiated commitments agreed between the TEC and the CoRE.

MIL OSI