Explanatory Memorandum
(circulated by authority of the Minister for Higher Education and Employment Services, the Hon Peter Baldwin MP)OUTLINE
The purpose of this Bill is to amend the Higher Education Funding Act 1988 which provides grants of financial assistance to the States, the Australian Capital Territory, the Northern Territory and higher education institutions.
The current Act provides funding for the 1990-1992 Triennium. The Bill provides funding for higher education institutions for 1993 amounting to $3 204 million in accordance with the rolling triennial funding arrangements. This amount takes into account the recent Government decision to provide funding of $29.61 million for additional intakes in 1993, additional funding to facilitate an increase in Australian Postgraduate Research Awards (APRAs) and funding for capital projects in 1993 of $212.453m.
Increased funding is being provided for higher education institutions amounting to $128.169m in 1990, $202.725m in 1991 and $202.339m in 1992 in accordance with the Government's cost supplementation arrangements. The Bill also provides for the incorporation of the Australian Postgraduate Course Awards and Research Fellowship programs into the Act in line with the decision to fund programs of the Australian Research Council on a rolling triennial basis.