SPFM definition
Examples of SPFM in a sentence
In the opinion of the Board of Management, we can confirm that corporate governance is exercised in accordance with the principles of the Code of Good Governance for Scotland’s Colleges, the Scottish Public Finance Manual (SPFM) and the Financial Memorandum.
Commercial insurance must however be taken out where there is a legal requirement to do so and may also be taken out in the circumstances described in the Insurance section of the SPFM - where required with the prior approval of the SG.
It should be noted, however, that guidance in the SPFM should always be considered in its entirety as and when relevant issues arise.
Gifts by management to staff are subject to the guidance in the Non-Salary Rewards section of the SPFM.
The RMA’s procurement policies shall reflect relevant guidance in the Procurement section of the SPFM and relevant guidance issued by the SG’s Procurement and Commercial Directorate.
The FM also requires that colleges comply with the requirements of the Scottish Public Finance Manual (SPFM), which sets out the actions and derogations agreed with Scottish Ministers.
SLC must follow the requirements of the Scottish Public Finance Manual (SPFM) except where any special actions or derogations have been agreed with the Scottish Ministers.
Where reference is made to the SPFM, please refer to the relevant section for the detailed requirements.
The derogations and actions in the following paragraphs have been agreed with the Scottish Ministers and must be read in conjunction with the SPFM.
The College Audit Committee undertakes an annual review of compliance with corporate governance requirements and good practice guidance, and in particular considers compliance with the FM, the SPFM and the Code of Good Governance for Scotland’s Colleges.