01 October 2019 
Karel Thomas, Executive Director
As Audit Scotland published its report Finances of Scottish Universities, Caroline Gardner, Auditor General for Scotland, said: "There's significant variation in the financial strength of Scotland's university sector. A small number of universities are stretching ahead of the rest and are in a better position to deal with the financial pressures facing the whole sector." The report made recommendations to the Scottish Funding Council and the Scottish Government and explained how EBITDA "can be a better indicator of the immediate financial health of an organisation than the operating position because it excludes income and costs that are longer-term and fluctuate significantly between years." The report includes straightforward explanations of why surplus and deficit figures should not be taken at face value. It is an interesting read no matter which region of the UK your institution is in.
