VET funding is available to independent schools to support the development and delivery of Vocational Education and Training (VET) in schools.
Funding allocations to independent schools are determined on the number of confirmed student enrolments in Certificate II’s and Certificate IIIs, and in limited cases Certificate I.
These certificates need to be recognised by the Australian Qualifications Framework (AQF). Independent Schools Victoria (ISV) calculate VET funding allocations on data which has been entered into the VASS system as at Enrolment Date 2 in each calendar year.
Schools will receive funding for students who participate in VET through:
Purchase of hours from TAFE and/or private registered training organisations (RTOs)
A school delivering the program within an auspicing arrangement with an RTO.
A school, who has RTO registration, and is delivering the program using their own scope of registration.
School Based Apprenticeships (SBAs) and Traineeships will not be included in these calculations, and Full Fee Paying Overseas Students (FFPOS) and students under the age of 15 as at 30 April in the funding years, will not be considered in these funding calculations.
Once this calculation has been confirmed, ISV will provide eligible schools with funds and a Remittance Advice advising the allocation amount.
Payments will be made to schools in one instalment in the August of the funding year.
At various times throughout the calendar year, there may be small amounts of extra funding available to be used for specific purposes. Schools will be advised via ISV memorandums.