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Arms Length Trusts!
25/02/2014 00:00The subject of 'Arms Length Trusts' is causing a wee bit of a stushie especially when some colleges are looking to establish their own 'Trust' or apparently more appropriately a 'Foundation' - as opposed to working within a "national sector".
The issue is of course in the word TRUST!
What 'FOUNDATION' is there for any FE College to have "excess reserves" and at the same time suggest a severe cuts impact agenda?
The Correlate has been shown a paper which is in the public domain from the Principal of Kelvin College to its Board of Management. We think it might help explain the position.... maybe!
Kelvin College - Establishment of an Arms-Length Foundation ( Note: Downloads MS Word file of first four pages)
Read The whole document as presented online here.... (it is 150 pages!) .... (Opens in New Tab / Window)
The SFC Link -
Reclassification of incorporated colleges (Opens in New Tab / Window)
What are 'Arms Length Trusts'?
Why are Colleges using them?
How much do they have in them?
Why do they have a surplus - surely this should be spent on supporting delivery?
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