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31/01/2013
Belfast Met Has Deficit Of £2.5m
Belfast Metropolitan College (BMC) has recorded deficit of £2.5m for 2011-12.
The Audit Office, the public spending watchdog, found in the six years since it opened the college has run an overall deficit of more than £17m.
A spokesperson for Belfast Met, the largest further education college in Northern Ireland with several campuses across the city, said: "The legacy of financial challenges facing Belfast Met is well documented; as too is our progress in delivering the changes necessary to ensure the college is placed on a sound and sustainable financial footing.
"As acknowledged by NIAO (Northern Ireland Audit Office), the deficit for 2011-12 has included one-off redundancy costs of £863,000. In total, exceptional costs since 2007-2008 amount to just over £9m. This spend was essential to deliver the changes needed.”
(H)
The Audit Office, the public spending watchdog, found in the six years since it opened the college has run an overall deficit of more than £17m.
A spokesperson for Belfast Met, the largest further education college in Northern Ireland with several campuses across the city, said: "The legacy of financial challenges facing Belfast Met is well documented; as too is our progress in delivering the changes necessary to ensure the college is placed on a sound and sustainable financial footing.
"As acknowledged by NIAO (Northern Ireland Audit Office), the deficit for 2011-12 has included one-off redundancy costs of £863,000. In total, exceptional costs since 2007-2008 amount to just over £9m. This spend was essential to deliver the changes needed.”
(H)
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