23
Sustainable institution
Efficiency savings and financial management
94. agreed in the 2013-14 Outcome Agreement, the College is not driven by a desire to save
As
money, rather by the ambition to invest in and deliver high quality services underpinned by
effective financial management strategies and the principle of best value. The 2013-14
organisational review, which will be implemented by August 2014, may result in efficiency savings
further into the three year period covered by this Outcome Agreement. The College will continue
to use public funding effectively and be a financially sustainable organisation. Due to the ONS
Reclassification of the college sector in Scotland which is effective from 1 April 2014, the College
will work with SFC to implement a financial strategy with appropriate key performance measures
which are reflective of this material change in its operating environment.
95.
The College will achieve the highest standards of corporate governance and continue to improve
the process of identifying and managing risks to protect the reputation of the College. The College
will implement the requirements set out in the forthcoming Post-16 Education (Scotland) Bill.
96.
The College aims to achieve the highest st