Document ID: chunk:federal_register_of_legislation:F2020L01437:schedule:1:p2
Version: federal_register_of_legislation:F2020L01437
Segment Type: schedule
Provision Reference: sch 1 (pt 2/3)
Character Range: 4801–7559

Ay × 53%)

where:
COMPETITIVEi  =  the percentage share of competitive income determined under paragraph 1.4.10 for HEP i
ENGAGEMENTi   =  the percentage share of engagement income determined under paragraph 1.4.10 for HEP i
BGAi,y        =  RSP Base Grant Amount for HEP i in year y
Ay            =  RSP Funding Pool in year y
y             =  year for which the grant is given
i             =  HEP 1 to n, where n is the total number of HEPs

1.4.20  Transitional Safety Net

For the 2021 Grant Year, a transitional safety net is applied to ensure that no HEP's RSP Base Grant Amount for the Grant Year will fall below 95 per cent of that HEP's indexed RSP Grant Amount for the previous Grant Year.

The transitional safety net is applied as follows:

     (1) Each HEP's RSP Grant Amount for the previous Grant Year is indexed by multiplying that amount by the indexation component. The indexation component is determined by dividing the RSP Funding Pool for the Grant Year by the RSP Funding Pool for the previous Grant Year.

     (2) For each HEP whose RSP Base Grant Amount calculated under paragraph 1.4.15 is greater than the indexed amount calculated under subparagraph 1.4.20(1), the difference between the two amounts is included in what would be a notional safety net pool.

     (3) For each HEP whose RSP Base Grant Amount calculated under paragraph 1.4.15 is less than 95 per cent of the indexed amount calculated under subparagraph 1.4.20(1), funds are taken from the notional safety net pool created in subparagraph 1.4.20(2) to top up the HEP's RSP Base Grant Amount to 95 per cent of that HEP's indexed RSP Grant Amount for the previous Grant Year.

     (4) After the calculation at subparagraph 1.4.20(3), any funds remaining in the notional safety net pool are then returned to HEPs that added to the notional safety net pool under subparagraph 1.4.20(2), based on their percentage contribution to the safety net pool.

1.4.25  RSP Base Grant Amounts for 2022 and future Grant Years

For 2022 and future Grant Years, the transitional safety net as specified in paragraph 1.4.20 is not applied to RSP Base Grant Amounts.

1.4.30  COVID-19 Supplementary Grant Amounts

For the 2021 Grant Year, the COVID-19 Supplementary Grant Amount for a HEP will be calculated using the same method for calculating a RSP Base Grant Amount specified in paragraph 1.4.15 with the RSP Funding Pool substituted with the COVID-19 Supplementary Funding Pool. The Transitional Safety Net outlined in paragraph 1.4.20 will not be applied to COVID-19 Supplementary Grant Amounts.

  1.4.35  Rounding Process

The rounding process for RSP Grant Amounts is as follows:

     (1) The Grant Amount calculated for each HEP under paragraph 1.4.5 is rounded down