Financial information on Australia’s government-funded vocational education and training (VET) system for 2016 shows operating revenues decreased by 16.8% to $8144.4 million when compared with the previous year, according to new data released today by the National Centre for Vocational Education Research (NCVER).
The Financial information 2016 report gives an account of how the government-funded VET sector is financed, based on data provided by the Australian, state and territory government departments responsible for administering government funds for Australia’s VET system.
When comparing 2016 with 2015, revenue from the Australian Government decreased by $1246.7 million (27.3%); revenue from state and territory governments decreased by $424.7 million (12.8%); while revenue from fee-for-service activities increased by $33.0 million (2.9%).
Total operating expenditures decreased $52.3 million (0.7%) to $7071.9 million in 2016 compared with 2015.
The report also includes information on VET FEE-HELP loans, trends for operating revenues and expenditures, operating expenditure by VET activity, and assets and liabilities. State and territory breakdowns are also included.
Australian vocational education and training statistics: Financial information 2016 is available from https://www.ncver.edu.au/data/collection/vet-finance
This work has been produced by NCVER on behalf of the Australian Government and state and territory governments, with funding provided through the Australian Department of Education and Training.
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