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Weekly news summary 13 - 19 May

SFC mentions: Colleges “could lose millions” in law change

Scottish colleges could lose millions of pounds under a change in the law that prevents them building up reserves. Currently as private bodies, colleges can keep income generated from private sources but will no longer be able to do this following a decision by the Office of National Statistics (ONS) to reclassify colleges as full public bodies. From April next year, colleges’ private reserves will be treated as public money and could be clawed back by SFC. The Westminster and Welsh governments are expected to pass legislation exempting colleges, but the Scottish Government has decided against a similar move.

The Herald

SFC mentions: Stratified medicine one of three new Innovation Centres

SFC is providing £8 million over five years to the University of Glasgow for its £20 million Stratified Medicine Scotland Innovation Centre (SMS-IC) at the South Glasgow Hospitals campus. The SMS-IC is one of three Innovation Centres officially announced last month by the First Minister. Stratified medicine involves examining the genetic makeup of patients and their differing responses to drugs designed to treat specific diseases, leading to more personalised and effective treatment.

Holyrood

SFC mentions: Power research centre opened

First Minister Alex Salmond officially opened the Power Networks Demonstration Centre in Cumbernauld – a grid research centre that will explore how technology can shape the low-carbon power industry. A joint venture between the University of Strathclyde, Scottish Power, SSE, Scottish Enterprise and SFC, the centre is part of the Scottish Smart Grid Strategy launched last year.

The Times, The Herald, The Scotsman, Press and Journal, Glasgow Evening Times

SFC mentions: Glasgow college merger “a success”

The merger of three Glasgow colleges to form City of Glasgow College has been a success, according to a report by SFC. The merger has saved approximately £7.4 million and has led to a wider range of courses, new subjects and improved staff development.

Metro, The Herald, The Scotsman, Daily Record

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