Chapter 1: Overview

Applying the funding formulae

1.10Indicative 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.

1.11Participating TEOs receive monthly PBRF payments through the tertiary education funding system. A final wash-up funding adjustment for each year is then made in 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.

1.12The amount of a TEO’s final PBRF entitlement may differ from its indicative allocation due to a range of factors which can include: