Chapter 1: Overview

Applying the funding formulae

1.9Indicative PBRF funding allocations are made before the funding year starts, usually around November. These indicative allocations are based on TEOs’ performance against each of the three PBRF measures and on the funding pool size. Performance is measured using the most up-to-date information available for each measure at the time funding is calculated.

1.10Participating TEOs receive monthly PBRF payments through the tertiary education funding system, with each monthly payment normally being of an equal amount. A final wash-up funding adjustment for each year is then made in July of the following year. This is based on final information received from TEOs and takes into account any changes in a TEO’s overall PBRF entitlement. Wash-up adjustments may be credits or debits.

1.11The amount of a TEO’s final PBRF entitlement may differ from its indicative allocation due to a range of factors which may include: