College sustainability

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.   

Financial forecasts

• Call for Information: Financial Forecast Return (FFR) for colleges 2019-20 to 2022-23

Institutional Efficiency

Examples of institutional efficiencies [PDF] from previous returns.

Financial statements

2018-19

• College 2018-19 financial statements

2017-18

• College 2017-18 financial statements
• Summary financial position of the college sector 2017-18 [PDF]
• College consolidated accounts 2017-18 [XLS]

2016-17

• College 2016-17 financial statements
• Summary financial position of the college sector 2016-17 [PDF]
• College consolidated accounts 2016-17 [XLS]

Previous years

• Previous financial statements are available on the archive site

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

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Accounts direction

• Accounts direction for Scotland’s colleges and Glasgow Colleges Regional Board 2019-20

Early retirement and pensions

• Scottish Teachers Superannuation Scheme: college funding to support the change to the
  employer contribution rate
• Early Retirement Provision guidance July 2019 [PDF]
• Early Retirement Provision spreadsheet (CPI indexed schemes) July 2019 [XLS]
• Early Retirement Provision spreadsheet (RPI indexed schemes) July 2019 [XLS]
• Provisions for enhanced pensions (suggested net interest rates for 2019) [XLS]
• Updated mortality tables 2015 [PDF] Updated mortality tables 2015 [XLS]