Document ID: chunk:federal_register_of_legislation:F2024C00098:body:0:p5
Version: federal_register_of_legislation:F2024C00098
Segment Type: other
Provision Reference: 
Character Range: 11679–14371

is as follows:

COMPETITIVEi  =  Share of Category 1 income for HEP i calculated according to the following formula:

ENGAGEMENTi   =  Share of Category 2, Category 3 and Category 4 income for HEP i calculated according to the following formula:

where:
y             =  year for which the grant is given
y1,y2         =  the most recent (y1) and second most recent (y2) years for which data is available
i             =  HEP 1 to n, where n is the total number of HEPs
j             =  HEP 1 to n, where n is the total number of HEPs

1.4.15  RSP Base Grant Amounts

The formula for calculating each HEP's RSP Base Grant Amount for the Grant Year is:

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