Education and Skills
Portfolio Outturn Statement for the Year Ended 31 March 2019
|142||Children and Families||133||18||115||117||(2)|
|-||Early Learning and Childcare Programme||8||-||8||9||(1)|
|787||Higher Education Student Support||2||948||2||946||1,221||(275)|
|1,757||Scottish Funding Council||3||1,868||-||1,868||1,874||(6)|
|5||Advanced Learning and Science||6||-||6||6||-|
|225||Skills and Training||236||-||236||238||(2)|
|125||Central Government Grants to Local Authorities||353||-||353||351||2|
|3,247||Total Expenditure Limit||3,802||22||3,780||4,060||(280)|
|UK Funded Annually Managed Expenditure|
|(161)||Higher Education Student Support||(78)||75||(153)||(152)||(1)|
|10||Capital - Additions||12||-||12||13||(1)|
|654||Capital (AME) - Advances||4||690||-||690||550||140|
|(145)||Capital (AME) - Repayments||4||(155)||-||(155)||-||(155)|
In addition to direct expenditure, the share of administration costs allocated to the Education and Skills portfolio is £17m. This gives a total net expenditure of £4,446m.
Explanation of Major Variances greater than £3m:
Note 1 Additional expenditure on demand-led teacher training due to increase in student numbers.
Note 2 Student loans impairment as a result of policy changes to increase repayments threshold and reduce repayment period was lower than anticipated. The budget was estimated before the final valuation model was received from DfE. This is a non-cash adjustment, and the budget cannot be used for other expenditure such as grants and bursaries.
As outlined in Note 9 - Financial Assets - a prior year adjustment of £255m has been applied to reflect the cumulative movement in the fair value of the student loan book. Due to the nature of the student loan impairment model it is not practicable to split this adjustment across prior years and this has been applied to the opening balance sheet position at 1 April 2018. The budget authorised by the Scottish Parliament for 2018-19 includes budget cover for the £255m relating to prior years. A restated resource outturn position including this cumulative adjustment is shown in the 2017-18 outturn amount, but the budget allocation for this is within 2018-19. For further information on the student loan impairment model see Note 9d Student Loans.
Note 3 Lower than anticipated Scottish Funding Council working capital requirement.
Note 4 Student Loan advances being lower than expected along with a technical financial adjustment to the fair value of student loans as a result of a Retail Price Index increase over the course of the year.
Remaining £5m consists of other minor variances across a number of programmes within the portfolio.
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