Date lodged: 17 October 2016
To ask the Scottish Government which colleges operate a technical deficit in the current financial year.
Answered by: Shirley-Anne Somerville 4 November 2016
The audited accounts of incorporated colleges for the year ended 31 July 2016 are not due to be received by the Scottish Funding Council until the end of December 2016.
The financial health of the college sector in 2014-15 is reported in paragraphs 59-62 of the Audit Scotland report Scotland’s colleges 2016 , which is at http://www.audit-scotland.gov.uk/uploads/docs/report/2016/nr_160825_scotlands_colleges.pdf
Exhibit 10 of the report indicates that while the sector reported an overall deficit of £28 million in 2014-15, after taking account of adjustments (including technical accounting adjustments), the deficit decreases to £3 million, representing less than one per cent of income.