ABSTRACT
To have their funding switched from local authority control to national funding arrangements was a very significant transition for the colleges. With most of their money at stake it is not surprising that the means of its distribution should have become a major preoccupation. In a sector that was generally under-funded before incorporation and faced increasing financial pressure soon afterwards, the funding methodology has taken on an almost mythical significance, being held responsible for nearly every woe, real or imagined, and always controversial. And yet it has survived five years and three major reviews without a better alternative being found. The latest indications from the FEFC are that it will continue at least until 2000-1, a venerable age in the world of funding systems.
