ITI November 2007 Newsletter

Editorial from the Chair of ITI Tim Cullinane

The Tertiary Education Commission (TEC) recently released the reinvestment funding decisions for 2008.  Private Training Establishments can apply to for reinvestment funding each year in a contestable process.  Many ITI members have spent a great deal of time carefully preparing their applications.

The final funding decisions have been broadly welcomed by ITI.  Naturally, in a limited fund of this nature a number of worthy application were unsuccessful and only a few applicants received the full amount they requested.  However, a number of ITI members received significant funding and they are to be warmly congratulated.

ITI is confident these members will make the full use of the additional funding and will demonstrate a real return on the Government’s investment for both learners and business.

Given the current restrictions on student numbers and fee maxima, the reinvestment process is particularly important because it is one of the only ways a PTE can grow. 

ITI will be working with the Government to discuss the size of future reinvestment funding and ways to ensure the most effective implementation each year.  A positive development this year was TEC’s decision to slightly “over-allocate” the fund to ensure the actual take up will be close to 100%.  This is a significant improvement on previous years.

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