Financial information for 2011 for Australia’s public vocational education and training (VET) system has been released by the National Centre for Vocational Education Research (NCVER).
Overall, operating revenues for the public VET sector were $7.869 billion in 2011, an increase of $720.5 million (10.1%) compared with 2010.
Comparing revenue for 2011 with 2010 shows:
• revenue from the Australian Government increased by 7.8%, or $159.7 million
• revenue from the state and territory governments rose by 18.3%, or $613.9 million
• total operating expenditures also increased to a total of $7.900 billion, an increase of $326.0 million (4.3%) from 2010.
Revenue from fee-for-service activities decreased by 4.8%, or $54.8 million compared with 2010 as a result of decreases in funding generated from overseas students’ fees (18.9%) and contracted overseas training (10.6%).
The public VET sector’s net assets (total assets less total liabilities) at the end of 2011 were $10.670 billion, an increase of 3.1% from 31 December 2010.
Australian vocational education and training statistics: Financial information 2011 also includes trends for operating revenues and expenditures, operating expenditures by activities, assets and liabilities.
Copies of Financial information 2011 are available from www.ncver.edu.au/publications/2550.html