Regulation 14 Financing of college councils
In determining in respect of each financial year the sum of money required by each college council in their area, in accordance with section 57(1) of the Act, the education authority shall, subject to paragraph (2), have regard to the most recent college development plan approved by them in respect of each academic year which falls partly within that financial year and shall determine—
which activities of the college council it is appropriate to fund;
the extent to which it is appropriate to fund each of those activities;
the basis for the calculation of the funding in respect of each of those activities to that extent, whether determined on the basis of the student load or on such other basis as appears to them appropriate; and
the reasonable cost of providing each of those activities to that extent and on that basis, determined in such manner as appears to them appropriate,
and the sum of those costs together with the costs determined by the education authority in respect of the administrative expenses and other outgoings of the college council shall be the sum determined.
In determining that sum the education authority shall not take into account any income of the college council, whether in the nature of cash or some other benefit, which the college council have received by way of gift, or any income which is derived from any such gift.
As soon as practicable after the education authority have made their determination of that sum, they shall inform the college council of that determination and of how it was calculated, including a statement of each determination they have made in accordance with paragraph (1).