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Institutional sustainability and governance

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SFC is a Non-Departmental Public Body of the Scottish Government. The relationship between SFC and the Scottish Government is governed by a Framework Document [PDF], agreed in September 2022.

Financial Memorandum


The Financial Memoranda with colleges and universities set out the formal accountability relationship between SFC and institutions, and the requirements that institutions are expected to comply with in return for funding.

The Memoranda are an important part of the governance framework within which SFC and institutions operate and they ensure that we are able to meet our statutory duties in relation to the Public Finance and Accountability (Scotland) Act 2000 and other legislation.

Mandatory requirements

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

Statement of Recommended Practice for Further and Higher Education (SORP)

Good Governance for Scotland's Colleges

Disposal of Exchequer Funded Assets


Colleges who are looking to dispose of any property should contact SFC as soon as possible.

Universities and non-incorporated colleges

Guidance on severance arrangements for Universities and non-incorporated colleges are included in the Financial Memoranda.

SFC Strategic Plan 2022-27

Building a connected, agile, sustainable tertiary education and research system for Scotland.

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