§ Mr. BeardTo ask the Secretary of State for Education and Skills how much public money has been given to the London Institute; and how the use of this money has been accounted for in each year since the foundation of the Institute. [92299]
§ Margaret HodgeThe following table shows the total income and the amount received from funding council grants for the London Institute each year since 1994–95.
£million London Institute Total income Funding Council grant income1 1994–95 57,728 38,020 1995–96 60,619 38,159 1996–97 64,954 37,439 1997–98 69,446 38,389 1998–99 71,968 42,041 1999–2000 78,075 44,073 2000–01 83,474 45,593 1The funding council grant includes funding from the Higher Education Funding Council for England, and from the funding bodies for further education in England. Source:
Table 1, HESA annual publication "Resources of Higher Education Institutions".
There is a financial memorandum between each institution and each of the funding councils from which they receive public funding. This sets out the responsibilities of each party including financial management and the arrangements for audit and monitoring.