❓ Hon. Alan Cadby questions the Minister for Education and Training about the Building and Construction Industry Training Fund levy reserve. The Minister, Hon. Graham Giffard, provides details on the current reserve level, actions taken to reduce it, and the target reserve amount and timeline.
AnsweredQoN 265Legislative Council
QuestionView source ↗
(1) What is the current level of the Building and Construction Industry Training Fund levy reserve? (2) What action has the minister taken to reduce the reserve to a more acceptable level? (3) What is the target reserve and when will this be reached? Hon GRAHAM GIFFARD
AnswerView source ↗
I thank the member for some notice of this question. The answer is as follows - (1) The current level of the Building and Construction Industry Training Fund reserve is $14.1 million. This answer is dated Tuesday, 6 April. (2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
(2) What action has the minister taken to reduce the reserve to a more acceptable level? (3) What is the target reserve and when will this be reached? Hon GRAHAM GIFFARD replied: I thank the member for some notice of this question. The answer is as follows - (1) The current level of the Building and Construction Industry Training Fund reserve is $14.1 million. This answer is dated Tuesday, 6 April. (2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
(3) What is the target reserve and when will this be reached? Hon GRAHAM GIFFARD replied: I thank the member for some notice of this question. The answer is as follows - (1) The current level of the Building and Construction Industry Training Fund reserve is $14.1 million. This answer is dated Tuesday, 6 April. (2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
Hon GRAHAM GIFFARD replied: I thank the member for some notice of this question. The answer is as follows - (1) The current level of the Building and Construction Industry Training Fund reserve is $14.1 million. This answer is dated Tuesday, 6 April. (2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
I thank the member for some notice of this question. The answer is as follows - (1) The current level of the Building and Construction Industry Training Fund reserve is $14.1 million. This answer is dated Tuesday, 6 April. (2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
(1) The current level of the Building and Construction Industry Training Fund reserve is $14.1 million. This answer is dated Tuesday, 6 April. (2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
(2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
(3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
(2) What action has the minister taken to reduce the reserve to a more acceptable level? (3) What is the target reserve and when will this be reached? Hon GRAHAM GIFFARD replied: I thank the member for some notice of this question. The answer is as follows - (1) The current level of the Building and Construction Industry Training Fund reserve is $14.1 million. This answer is dated Tuesday, 6 April. (2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
(3) What is the target reserve and when will this be reached? Hon GRAHAM GIFFARD replied: I thank the member for some notice of this question. The answer is as follows - (1) The current level of the Building and Construction Industry Training Fund reserve is $14.1 million. This answer is dated Tuesday, 6 April. (2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
Hon GRAHAM GIFFARD replied: I thank the member for some notice of this question. The answer is as follows - (1) The current level of the Building and Construction Industry Training Fund reserve is $14.1 million. This answer is dated Tuesday, 6 April. (2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
I thank the member for some notice of this question. The answer is as follows - (1) The current level of the Building and Construction Industry Training Fund reserve is $14.1 million. This answer is dated Tuesday, 6 April. (2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
(1) The current level of the Building and Construction Industry Training Fund reserve is $14.1 million. This answer is dated Tuesday, 6 April. (2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
(2) The minister appointed a new board in July 2003 and gave it responsibility for implementing reforms that would use the reserve in an appropriate way to support training and skills development in the industry. Earlier this year, the minister approved a variation to the board’s 2003-04 operational plan. The fund is based on predicted program expenditure in 2003-04 of approximately $8.8 million, which is $1.9 million or 27 per cent more than the $6.9 million spent in 2002-03. (3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
(3) The BCIT board has established a four-year financial plan that will see the current reserve reduced to approximately $5 million by 30 June 2008, of which $2 million is to be retained for contingent liabilities.
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