NOTES TO THE ACCOUNTS
NOTE 19 – PROVISIONS – Group and University
Balance at 1 August 2010 Transfer to deferred capital grants receivable Utilised in year Balance at 31 July 2011
Deferred capital grant £’000
Total £’000
883 (544) –
883 (544) –
339
339
Deferred capital grant In the development of its activities at the Tremough Campus in Cornwall the University of Exeter and University College Falmouth have been in receipt of two phases of funding from the European Union. The European Court of Auditors undertook an audit of Phase 2 of this funding during the years prior to 31 July 2010. This audit identified some areas where it was asserted that the procurement processes which utilised these funds were not fully compliant with the European Union Procurement Regulations. Following the results of the on-going discussions between the University of Exeter and University College Falmouth and the relevant authorities, a reduced provision of £339,013 has been recognised as at 31 July 2011 which represents management’s current estimate of the liability based on correspondence and professional advice received in respect of this matter.
NOTE 20 – DEFERRED CAPITAL GRANTS – Group and University
At 1 August 2010 Land and buildings Equipment
Funding Council £’000
Other Grants £’000
Total £’000
57,048 5,598
42,016 2,877
99,064 8,475
62,646
44,893
107,539
3,364
7,960
11,324
F I N A N C I A L S TAT E M E N T S
The provision also correspondingly reduces the deferred capital grant balance.
Grants receivable: –
3,475
3,475
3,364
11,435
14,799
Land and buildings
1,741
1,279
3,020
Equipment
1,159
2,046
3,205
2,900
3,325
6,225
58,671
48,697
107,368
4,439
4,306
8,745
63,110
53,003
116,113
Released to Income and Expenditure Account:
At 31 July 2011 Land and buildings Equipment Released to Income and Expenditure Account: Funding body grants Research grants and contracts Other income
2,900 1,742 1,583 6,225
53
NOTES TO ACCOUNTS
Land and buildings