Whether past efficiency of management and budget will be taken into account by the Scottish Further and Higher Education Funding Council in…

This is an operationalmatter for the Scottish Further and Higher Education Funding Council, however Iunderstand that colleges may only apply their SFEFC funding for the purposesintended and must ensure sound financial management arrangements are in placefor the effective stewardship of this money. Misuse of funds by colleges canresult in money being clawed back from colleges by SFEFC.
Colleges’ external auditorsverify that all SFEFC funding has been properly applied. Confirmation that allexternal auditors have been able to give that assurance is set out in SFEFC’sannual report and accounts.
In addition, colleges alsohave in place internal audit services and arrangements to secure the economic,efficient and effective management of resources. Through internal auditors’annual reports, colleges confirm to SFEFC that these arrangements are in place.