Education Secretary Jenny Gilruth has confirmed up to £40 million funding in principle for the Scottish Funding Council (SFC) to support the University of Dundee’s recovery.
Funding will be provided to the SFC over two academic years or three financial years. This is in addition to the £25 million funding announced by Ministers in February for the SFC to support universities facing financial challenges, of which the University of Dundee received £22 million. This means total additional funding made available for the University by the Scottish Government via the SFC is up to £62 million.
The SFC and Scottish Government will work together to develop appropriate conditions for the funding, which is subject to further due diligence. Funding will only be released once a sustainable, long-term recovery plan is put in place by the University that leverages commercial and private investment.
The statement follows Professor Pamela Gillies’ Independent Review (PDF) into the University of Dundee’s finances, which highlighted that the University had failed to operate in line with the SFC’s Financial Memorandum and Code of Good Higher Education Governance. Ministers have held early discussions with SFC to consider options to strengthen governance in institutions.
Scottish Government Press Release
