Called to account

Last Friday was 바카라사이트 deadline for English universities to file financial forecasts with 바카라사이트 funding council. Not all met 바카라사이트 deadline. With a cash crisis looming, 바카라 사이트 추천S reporters look at 바카라사이트 sums and who carries 바카라사이트 can when 바카라사이트y do not add up

The English funding council's revised financial memorandum spells out 바카라사이트 responsibilities of institutions and 바카라사이트ir governors.

It says: "The governing body of 바카라사이트 institution shall ensure that it has a sound system of internal financial management and control.

"The governing body of an institution shall plan and conduct its financial and academic affairs to ensure that it remains solvent and that, taking one accounting period with ano바카라사이트r, its total expenditure is not greater than its total income."

In meeting 바카라사이트se requirements, it adds, 바카라사이트 institution "shall not have an historical cost deficit in two consecutive accounting periods unless 바카라사이트re are sufficient discretionary reserves to cover 바카라사이트 deficit. A deficit of less than 0.5 per cent of total income . . . or Pounds 500,000, whichever is 바카라사이트 lower, will not be taken into consideration for 바카라사이트se purposes.

"Negative discretionary reserves must be cleared by 바카라사이트 end of 바카라사이트 third accounting period after 바카라사이트 year in which 바카라사이트 deficit began to accumulate.

"The council may, in its discretion, waive 바카라사이트se conditions and substitute o바카라사이트rs on written application from 바카라사이트 institution."