SFT saves enough for 12 new schools

11 July 2012 Scottish Futures Trust (SFT) efficiencies have saved enough to build 12 more schools, while tax increment financing (TIF) is the organisation's top benefit.
The procurement body’s annual statement of benefits, revealing the savings it has delivered to the Scottish government through its work, claims to have made £131.4m in net benefits during the past year, up from £129m for the previous 12 months.

The reported benefits continue to far outweigh the cost of the body, which stood at £4.8m – up by £800,000 on the previous year but still far exceeding the SFT’s commitment to deliver an initial £7 of benefits for every £1 spent on the organisation.

One of the key benefits has been the additional investment being provided through its work to develop the TIF model, which it values at nearly £31m.

Meanwhile, the report said it had also provided significant benefit to the £1.25bn Scotland’s Schools for the Future programme – creating enough efficiency savings to build 12 more schools, largely through reducing the use of consultants.

“By focussing on the delivery of ‘needs’ rather than ‘wants’, achieving savings through collaborative working and carefully managing the programme budget, SFT’s work has enabled the number of schools to be built within the programme to be increased from 55 to 67,” the report added.

A further efficiency gain of note has been delivered through the development of a centre of expertise for public sector projects. This was valued by the report at £23.3m.

This page was last updated on:
21 October 2014.

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