NCVER releases VET finances information
Financial information for 2010 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 training sector in 2010 increased compared with 2009, up $416.5 million (6.2%) to $7.142 billion.
Comparing revenue for 2010 with 2009 shows:
- revenue from the Australian Government increased by 9.9%, or $186.2 million
- revenue from the state and territory governments rose by 4.2%, or $135.7 million
- revenue from fee-for-service activities increased by 6.6%, or $69.7 million.
Total operating expenditures also increased, from $6.807 billion in 2009 to $7.576 billion in 2010, a rise of 11.3%.
The public VET sector’s net assets (total assets less total liabilities) at the end of 2010 were $10.350 billion, an increase of 2.2% from 31 December 2009.
Copies of Financial information 2010 are available from www.ncver.edu.au/publications/2426.html