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Murdoch University first to sign new three-year funding agreement.



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Media Release

Murdoch University first to sign new three-year funding agreement

16 October 2007

Murdoch University will benefit from greater flexibility and increased funding certainty after becoming the first higher education provider to sign a new three-year funding agreement under the Commonwealth Grant Scheme for 2008 to 2010.

The Minister for Education, Science and Training, the Hon Julie Bishop, said the new agreement reflected the revised funding clusters in the $3.5 billion Realising Our Potential package, which was announced as part of the 2007-08 Federal Budget.

Murdoch University will receive an increase of $6.5 million in 2008 under the Commonwealth Grant Scheme, and the university will receive more than $204 million over the new three-year funding agreement.

“The new three-year agreements replace the current annual agreements and will give universities greater certainty in planning and management,” Minister Bishop said.

“From 2009, all universities will have funding agreements on a three-year basis. The majority of universities have taken the opportunity to move early to three-year agreements from 2008, and I look forward to these agreements being finalised in coming weeks.

“The new agreements include important safeguards to ensure universities respond appropriately to the greater flexibility that the Government has provided in relation to fee paying places.”

Minister Bishop said a high quality and responsive education system was vital to increasing skills and boosting workforce participation and productivity in Australia.

“The Realising Our Potential package sets a framework for a flexible university system that is more responsive to student and employer needs,” Minister Bishop said.

Media Contacts: Minister Bishop’s Office: Tory Vidler 0414 228 727 Dept of Education, Science & Training: Media Unit 02 6240 7300 Non-media queries 1300 363 079

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17/10/2007 http://www.dest.gov.au/Ministers/Media/Bishop/2007/10/B002161007.asp