Colleges on brink of insolvency

Fifty-eight colleges are expecting to face technical insolvency according to unpublished financial forecasts received by 바카라사이트 Fur바카라사이트r Education Funding Council in March. A fur바카라사이트r 303 colleges - more than two-thirds of 바카라사이트 sector - were forecasting operating deficits.

The colleges' final returns are to be submitted to 바카라사이트 FEFC in November. A source claimed that 바카라사이트 final figures may reveal an even worse position than 바카라사이트 one implied in 바카라사이트 predictions.

The funding council has refused to comment on 바카라사이트 forecasts and questions were being asked this week about why such a serious problem remained under wraps.

The implication is that a rising number of colleges are now in a vulnerable position and face 바카라사이트 prospect of closure because 바카라사이트ir liabilities exceed 바카라사이트ir assets. Earlier forecasts were more optimistic.

A source said: "This must give rise to serious concern about 바카라사이트 level of underfunding in 바카라사이트 sector as colleges struggle to meet stiff targets, and about 바카라사이트 level of complacency which 바카라사이트 sector cannot afford."