Archived News

The HEEF draft guidelines were released for public consultation on 7 March 2008. These draft guidelines formed the basis for the national consultations that were conducted during March and April 2008.

• HEEF Draft Guidelines (removed while Expressions of Interest are open) 

The draft guidelines refer to a draft funding agreement for successful applicants. A consulation draft of the Funding Agreement is available for viewing.

• HEEF Draft Funding Agreement (removed while Expressions of Interest are open)

The objective of the HEEF is to support capital expenditure and research facilities in Australian universities. This support will be provided by the dividends on the capital invested in the HEEF, not the capital investments.

Announced with an initial capital investment of $5 billion from the 2006-07 Budget surplus, the HEEF was augmented in August 2007 with a further $1 billion capital investment from the Budget surplus.

• The former Minister, the Hon Julie Bishop's HEEF Press Release (2007 Budget)    
• The former Treasurer, the Hon Peter Costello’s Press Release on additional $1 billion for the HEEF 
• The former Minister, the Hon Julie Bishop’s Press Release on additional $1 billion for the HEEF  

The capital investment of $6 billion into the HEEF, and all other capital investments, will be managed by the Future Fund Board of Guardians    . The Future Fund Board of Guardians will also determine the dividend on the HEEF capital each year, using set maximum grant rules. The dividends are estimated to be $300 million per annum. These dividends will provide the funds that will support capital expenditure and research facilities.

The distribution of HEEF dividends will be the joint responsibility of the Minister for Education, Employment and Workplace Relations, and the Minister for Innovation, Industry, Science and Research , who will receive advice from the independent HEEF Advisory Board.  The dividends will support strategic investment proposals that will promote excellence, diversity, quality and specialisation in Australian universities.

The Advisory Board is responsible for conducting sector consultations, advising the Minister on program development and making recommendations to the Ministers on grants for capital expenditure and research facilities.

The membership of the Advisory Board is:

• Mr Philip Clark AM (Chair)
• Dr Peter Farrell AM
• Dr Cherrell Hirst AO
• Mr John Poynton AM
• Dr Michael Vertigan AC
• Dr Jim Peacock AO, Chief Scientist of Australia (ex-officio)
• Ms Lisa Paul PSM, Secretary of the Department of Education, Employment and Workplace Relations (ex-officio)
• Mr Mark Paterson AO, Secretary of the Department of Innovation, Industry, Science and Research (ex-officio)

For more information on the Advisory Board, please see The former Minister, Ms Julie Bishop's media release     and the Advisory Board page.