Annual Report 2008-9 - The British School at Rome

N OTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2009
17. UNRESTRICTED FUNDS
General Capital Designated Total Total
Funds Fund Funds 2009 2008
£’000 £’000 £’000 £’000 £’000
At 1 April 860 278 1,273 2,411 2,493
Net (outgoing)/ incoming
resources (94) - (3) (97) 30
Realised gains
on investments - - - - 22
Unrealised (losses)/ gains
on investments (138) - (253) (391) (134)
At 31 March 628 278 1,017 1,923 2,411
The designated funds are funds set aside by Council for various grants for
research and scholarship and arise from unrestricted bequests.
18. RESTRICTED FUNDS
British Academy Getty Cary Appeal PHI Other Total Total
Fund Fund Fund Fund Funds Funds 2009 2008
£’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
At 1 April
Total incoming
15 98 154 32 2,020 97 2,416 620
resources - - 6 9 2,656 7 2,678 3,391
Total resources
expended (15) (57) (15) (5) (1,734) (8) (1,834) ( 1,582)
Realised gains on
investments - - - - - - - 2
Unrealised (losses)/ gains on
investments - - (37) - - (8) (45) (15)
At 31 March - 41 108 36 2,942 88 3,215 2,416
50
The bequest establishing the Cary Fund was restricted and Council determined in
November 1995 that it should be used to create a fellowship to enable an
academic to undertake research in Rome and to be involved with a School
postgraduate taught course.
The Packard Humanities Institute (PHI) Funds represent grants given by the
Institute to finance specific projects, principally in Herculaneum.
The British Academy fund related to funding for a collaborative project with the
Society for Libyan Studies to fund a series of Punic Mediterranean workshops.
The Getty Fund represents grants given by The Getty Foundation for the
arrangement and description of the J.B. Ward-Perkins photographic collection.
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Restricted
Funds Funds Total
£’000
Fund balances at 31 March 2009 are represented by:
£’000 £’000
Tangible fixed assets 557 - 557
Investments 1,534 140 1,674
Cash 327 3,663 3,990
Other current assets 77 - 77
Current liabilities (275) (588) (863)
Long-term liabilities (297) - (297)
Total net assets 1,923 3,215 5,138
20. COMMITMENTS
The School has awarded grants and scholarships totalling £89,395 to be paid
in 2009–10 (2008–9 — £85,210). No provision has been made for these grants
as the conditions attaching to the grants had not been met at 31 March 2009.
21. CONTROLLING PARTY
The activities of the School are controlled by Council. There is no ultimate
controlling party of the School.