Australia Reallocates BER Funding To Benefit Schools
The Government will adjust the funding for the Building the Education Revolution (BER) and the Education Investment Fund (EIF) as new updated economic forecasts in the Mid-Year Economic and Fiscal Outlook (MYEFO) show the powerful benefits of economic stimulus.
The Government has announced that $500 million of BER funding will be re-phased from 2010-11 to 2011-12 and $200 million of funding will be returned to the EIF for allocation in the future.
The adjustments to the BER and EIF will allow flexibility in managing the demand for individual programs and continued value for money whilst ensuring that an appropriate level of support is provided to the economy.
The Government has always said that we would recalibrate our stimulus measures, if and when required, to ensure they remain suited to changing economic circumstances during the global recession.
The Government will re-phase $500 million of funding allocated for the Primary Schools for the 21st Century element of the BER from 2010-11 to 2011-2012. The re-phase will ensure continued value for money and allow flexibility in the delivery of individual P21 projects.
Project extensions will be considered on a case by case basis. Reasons for an extension being granted may include:
* extra time for re-tendering to achieve greater value for money;
* further consultation required to ensure better program outcomes;
* environmental factors; and
* unforeseen circumstances.
It is anticipated that projects requiring additional flexibility will be from, but not limited to, Round 3 of the P21 element of the BER. This will be managed through the project completion provisions which already exist in the BER Guidelines.
The Government will reduce the allocation of EIF funds available to Round 3 and the Sustainability Round by $200 million to a total of $350 million. The $200 million will be returned to the balance of the EIF for future investment.
While the EIF Round 3 application process has closed, the successful projects are yet to be determined. The final allocation to each round depends on the quality of proposals received and on the advice of the independent advisory board. Successful projects will be announced in 2010.
Since 2008-09, the Government has committed almost $3 billion from the EIF and a further $1 billion from general revenue to the tertiary and research sectors.
The Government will continue to monitor the economic recovery and make any further adjustments necessary to ensure its fiscal settings are appropriate for Australia’s economic conditions.
Topics: Australia, BER, Building the Education Revolution, economic forecast, economic stimulus, Economy, education, Education Investment Fund, EIF, global recession, Governance, Mid Year Economic and Fiscal Outlook, MYEFO
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