Detailed explanation of the formulaDetailed explanation of the formula

Detailed explanation of the formula

1.59.45 The formula in section 1.59.40 has two components. The first is based on the EFTSL of the internal and multi-modal Commonwealth supported student load of each of a provider’s eligible campuses. The second is based on the provider’s external Commonwealth supported student load.

1.59.50 The RLP grant for the first component of the formula for a provider is calculated by multiplying the average student load of a provider’s internal and multi-modal Commonwealth supported student load for each eligible campus by the remoteness loading (L) for the physical location of that eligible campus. The totals for each of a provider’s eligible campuses are added together to calculate the grant amount for the provider for the first component of the formula.

1.59.55 The RLP grant for the second component of the formula for a provider is calculated by multiplying 50 per cent of the average student load of a provider’s external Commonwealth supported student load by the remoteness loading (L) for the provider’s headquarters campus. The headquarters campus is the campus that has the highest average student load based on the EFTSL of the average internal and multi-modal Commonwealth supported student load.

1.59.60 As stated in section 1.58 above, the amount of funding available for the RLP is capped for each calendar year. To ensure that the RLP funding distributed in a calendar year does not exceed the capped amount approved for that year, the following process is used to adjust the final amount of the grant to be paid to each eligible provider in a calendar year:

(a) initially the preliminary grant amount for each provider is calculated using the formula at section 1.58.40, above allowingImage unavailable in extracted text);

(b) then the preliminary grant amount for each provider is added to determine the interim grant total (Image unavailable in extracted text);

(c) to establish the value of the variation (Image unavailable in extracted text) for determining the final grant amount, the grant amount available for the calendar year less any transitional support payment (Image unavailable in extracted text) is divided by the interim grant total (Image unavailable in extracted text);

(d) to calculate the final grant amount for each provider for the calendar year the formula in section 1.58.40 is reapplied using the value for Image unavailable in extracted text as determined in (c) above.