Dundee cash crisis probe to examine ¡®surprise¡¯ deterioration

The Scottish Funding Council (SFC) has launched an investigation into how 바카라사이트 University of Dundee¡¯s financial crisis ¡°came as a surprise¡± to university leadership.?

The funding body has approved a ?22 million support package for 바카라사이트 university after Dundee¡¯s leaders warned a Scottish parliamentary committee that 바카라사이트 institution could become insolvent by June.?

The SFC is set to examine why Dundee¡¯s financial position ¡°deteriorated so seriously and apparently so suddenly¡±, and will probe decisions made by university leaders and governing bodies related to investments and spending.?

It will look at 바카라사이트 ¡°quality, credibility and accuracy¡± of 바카라사이트 financial information provided to 바카라사이트 university executive group and court, and 바카라사이트 extent to which 바카라사이트se bodies were aware of ¨C or should have been aware of ¨C 바카라사이트 institution¡¯s declining financial position.?

Earlier in March, interim principal of 바카라사이트 university, Shane O¡¯Neill, said 바카라사이트 university had committed to an external investigation and would accept and act on 바카라사이트 findings.?

It followed an announcement of plans to cut 632 full-time jobs?¨C equivalent to one in five posts at 바카라사이트 Scottish institution, which has forecast a ?35 million deficit in 2024-25.?

The university first notified 바카라사이트 SFC of funding challenges in November 2024 and a?key focus of 바카라사이트 investigation will be examining why 바카라사이트se concerns were not raised earlier.?

So far this year, 바카라사이트 Scottish government has made ?25 million of additional money available to 바카라사이트 sector ¨C 바카라사이트 majority of which will be used to bail out Dundee.?According to 바카라사이트 SFC, 바카라사이트 support package will consist of a mix of low-cost loans and capital grants.?

Professor Pamela Gillies, former principal at Glasgow Caledonian University, has been appointed to oversee 바카라사이트 investigation, which is expected to be concluded within two months of 바카라사이트 full investigative team being appointed.?

¡°The University of Dundee is one of Scotland¡¯s world-leading institutions and we are committed to working alongside its senior team as it finalises and delivers a financial recovery plan that will see it return to a position of financial health,¡± said Francesca Osowska, SFC chief executive.

¡°Alongside this work, it¡¯s vital that 바카라사이트 circumstances surrounding 바카라사이트 financial challenges at 바카라사이트 university are fully investigated, with rigour and transparency, and that lessons are learned to minimise 바카라사이트 risk of this situation arising again.¡±

helen.packer@ws-2000.com