Common use of DETERMINING AND PAYING FUNDS Contact Hour Funds Clause in Contracts

DETERMINING AND PAYING FUNDS Contact Hour Funds. 11.1 Subject to the conditions and limitations set out in this Contract, we will pay you Contact Hour Funds by: a) multiplying the number of Scheduled Hours of training and assessment that you report under this Schedule 1 as delivered, or to be delivered, to a Skills First Student; with b) the sum of: i) the applicable hourly rate per Scheduled Hour as identified in Clause 11.2 of this Schedule 1; and ii) for training activity between 1 January 2024 and 31 December 2024, an amount equal to 10% of the relevant rate specified in either the ‘Subsidy’ or ‘RPL Subsidy’ field of the Funded Programs Report. 11.2 The hourly rate per Scheduled Hour is the rate specified in either the ‘Subsidy’ or ‘RPL Subsidy’ field of the Funded Programs Report (for the relevant payment year, Program Commencement Date and Enrolment Type), adjusted for the following loadings where applicable (including in accordance with Clause 11.3 of this Schedule 1): a) Indigenous loading – where the Skills First Student self-identifies as being of Aboriginal or Xxxxxx Xxxxxx Islander descent (and is reported as such through the ‘Indigenous Student Identifier’ field of the Student Statistical Report) the ‘Subsidy’ or ‘RPL Subsidy’ will be increased by 50%;

DETERMINING AND PAYING FUNDS Contact Hour Funds. 11.1 Subject to the conditions and limitations set out in this Contract, we will pay you Contact Hour Funds by: a) multiplying the number of Scheduled Hours of training and assessment that you report under this Schedule 1 as delivered, or to be delivered, to a Skills First Student; with b) the sum ofof : i) the applicable hourly rate per Scheduled Hour as identified in Clause 11.2 of this Schedule 1; and ii) for training activity between 1 January 2024 and 31 December 2024, an amount equal to 10% of the relevant rate specified specif ied in either the ‘Subsidy’ or ‘RPL Subsidy’ field f ield of the Funded Programs Report. 11.2 The hourly rate per Scheduled Hour is the rate specified in either the ‘Subsidy’ or ‘RPL Subsidy’ field f ield of the Funded Programs Report (for the relevant payment year, Program Commencement Date and Enrolment Type), adjusted for the following loadings where applicable (including in accordance with Clause 11.3 of this Schedule 1): a) Indigenous loading – where the Skills First Student self-identifies as being of Aboriginal or Xxxxxx Xxxxxx Islander descent (and is reported as such through the ‘Indigenous Student Identifier’ field f ield of the Student Statistical Report) the ‘Subsidy’ or ‘RPL Subsidy’ will be increased by 50%;