Scottish Funding Council logo

Institutional sustainability

Register with us

Register with us to view a personalised homepage and to receive emails relating to your interests.

Register here

Our Strategic Plan states that we will monitor the sustainability of colleges and universities and support them in making the best use of their resources.

We do this by gaining assurance that the governing body of institutions meet the requirements of the Financial Memoranda, as a condition of receiving grant funding. We therefore seek financial management and other information from institutions.

Financial Sustainability

The Scottish Funding Council (SFC) has a key role in ensuring that the institutions we fund continue to plan and manage their activities in a way which ensures their sustainability and financial viability. This contributes to the success of students and researchers, local communities and the wider Scottish economy. Financial sustainability is, therefore, a condition of grant and is set out in our Financial Memorandum.

College sustainability

Mandatory requirements

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

Financial sustainability

The Financial Sustainability of Colleges in Scotland 2020-21 to 2025-26 report presents an aggregate picture of the financial health of Scottish institutions based on a review of their latest forecasts.

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 statements

Colleges have agreed to provide a copy of their financial statements (annual accounts) for publication on the SFC website as a central source of information for other stakeholders.

See full list of financial statements

University sustainability

Mandatory requirements

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

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

Financial sustainability

The Financial Sustainability of Universities in Scotland 2020-21 to 2024-25 report presents an aggregate picture of the financial health of Scottish institutions based on a review of their latest forecasts.

Financial forecasts

British Universities Finance Directors Group (BUFDG) model financial statements

SORP Model Financial Statements are available on the BUFDG website. You will be required to enter your username and password to gain access to this material.

Transparent Approach to Costing

The Transparent Approach to Costing (TRAC) is the standard methodology used by higher education institutions (HEIs) in the UK for costing their activities. It was established as an approach to identifying the Full Economic Costing (FEC) of all activities to improve the accountability for the use of public funds and inform institutional decision making.

Financial statements

SFC Strategic Plan 2022-27

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

Register with us

Register with us to receive emails relating to your interests.