What we know so far
The Victorian Department of Education and Training (The Department) has announced that it’s call for expressions of Interest for Skills First 2018-19 VET Funding Contracts will open at 2pm on Friday the 1st of September 2017, and will close on Thursday the 28th of September 2017.
It is understood that applying organisations will be able to apply for either a “Standard” or “Restricted” funding contract, which is consistent with the current 2017 Skills First VET Funding Contracts.
Successful applicants will be offered a 2 year contract, that will be valid throughout the 2018 and 2019 calendar years.
The Department has advised that it is hoping to provide applying organisations of their outcome in November 2017.
A suite of information will be published on the The Department’s Skills Victoria Training System (SVTS) when the Call for EOI opens on 1/9/2017, including draft VET Funding Contracts and supporting information to assist providers with completing the application process.
Information sessions will be held in Melbourne, Geelong, Traralgon and Bendigo in the first week of September. Providers can register now via SVTS. Places will be limited to three attendees per training provider.
For more information on how to apply for a Skills First 2018 – 2019 Funding Contract please complete your details on the registration form at the end of this post to attend our FREE WEBINAR on “How to apply for a Skills First 2018 – 2019 Funding Contract“.
The Good News
There is some really good news in this years’ Skills First contract application process, in that the Victorian state government has listened to our feedback and calls for longer contract durations. As already mentioned, successful applicants will be offered a 2 year contract, that will be valid throughout the 2018 and 2019 calendar years. This is a great outcome and will offer quality training providers greater certainty and stability. This will also allow providers to invest in their business to deliver quality training.
It is also really pleasing to hear that the Department will allow training providers up until 16/10/2017 to provide the required financial information, including financials that have been audited by an ASIC Registered Auditor.
Get Your Financials Ready NOW!
The Department has advised that training provider applicants will need to submit their audited financial statements for the two most recently completed full financial years. These financial statements must be accompanied by independent audit reports completed by an ASIC registered auditor. Applicants are encouraged to prepare this documentation as soon as possible. If your organisation has not already started work on this, do not delay – now is the time to start work on this important task.
Learn Local Training Providers that are applying for a restricted contract must have audited financial statements, but will be pleased to hear that they are exempted from the requirement for the auditor to be an ASIC Registered Auditor. That is unless they are applying for a standard contract, in which case Learn Local Training Providers must utilise an ASIC Registered Auditor.
The requirement to submit audited financials is arguably the most challenging part of the application process, and the one sticking point that has seen countless applications rejected over previous years. Having financials audited by an ASIC Registered Auditor is no small task. If your organisation is looking for an ASIC Registered Auditor that is experienced in supporting training providers to apply for VET Funding Contracts, please get in touch and we will happily introduce you to one of our reputable contacts.
The To Do List
- Register online at eduweb.vic.gov.au/svts/Events to attend the Department’s 2018 Provider Selection Process Information Sessions. These sessions are targeted towards training providers that are considering lodging an expression of interest for a Skills First 2018-19 VET Funding Contract
- Continue to monitor SVTS daily for further updates and announcements throughout the application process
- Register your details on the form below to attend our FREE LIVE WEBINAR on Monday 4th September where we will unpack the Skills First contract for you and discuss what is involved in the application process, or click on the following link if the form below isn’t working on your device: https://attendee.gotowebinar.com/register/6372504797326981891
- Contact the team at Audit Express if you have any questions, or require support completing your application