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Institutional finance for colleges

Mandatory requirements

The Financial Memoranda make reference to further documents which set out detailed mandatory requirements.


Incorporated colleges

Incorporated colleges were reclassified as arms-length central government bodies in April 2014. They are now subject to the Scottish Government Regulatory and Reporting Framework which includes compliance with the Scottish Public Finance Manual, Consolidated Budgeting Guidance, Financial Reporting Manual and Whole Government Accounts. See also:

Financial forecasts

Financial statements





The financial statements have been properly prepared in accordance with the Statement of Recommended Practice for Further and Higher Education (SORP)

Accounts direction

British Universities Finance Directors Group (BUFDG) model financial statements

Early retirement and pensions