Reports and Financial statements 2009 - the University Offices ...

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Notes to the Accounts 1 Funding body grants 2009 2008 £m £m Higher Education Funding Council for England (HEFCE) Recurrent grant 175.1 172.0 Specific grants 12.2 12.4 Deferred capital grant released in year (note 23) Equipment 5.3 5.9 Buildings 9.7 8.7 HEFCE total 202.3 199.0 Training and Development Agency for Schools Recurrent grant 2.9 3.2 205.2 202.2 2 Tuition fees and education contracts Restated Full-time home/EU students 41.6 34.8 Full-time overseas (non-EU) students 38.4 36.2 Part-time course fees 7.0 5.6 Research Training Support Grants 4.8 4.3 91.8 80.9 Research Training Support Grants include £4.2m (2008: £3.6m) in respect of certain postgraduate grants funded by research councils, which were previously included in research income. Comparative figures have been restated. 3 Income: research grants and contracts Restated Research councils 112.5 101.8 UK based charities 72.1 68.6 Other bodies 75.6 62.2 260.2 232.6 Total research grants and contracts income excludes £5.7m (2008: £9.8m) deferred capital grants receivable in the year but includes £7.8m (2008: £8.3m) released from deferred capital grants to match the depreciation charge on the related equipment – see note 23. In previous years research grants and contracts income included the total funding in relation to certain postgraduate grants received from research councils.The total for 2008 was £10.5m. These are now included as Research Training Support Grants in tuition fees and education contracts (note 2), excluding funding passed on to students as stipends or bursaries. Comparative figures have been restated. Reports and Financial Statements 81
Notes to the accounts 4 Examination and assessment services 2009 2008 £m £m Examination fees 224.2 203.0 Other examination and assessment services 12.3 12.8 236.5 215.8 5 Publishing and printing services Publishing services 198.6 158.8 Printing services 8.5 15.3 207.1 174.1 6 Other income Other services rendered 26.4 25.3 Health and hospital authorities 16.0 11.0 Residences, catering and conferences 8.5 7.6 Arts & Humanities Research Council museum grant 1.8 1.7 University companies 15.4 16.8 Released from deferred capital grants (note 23) 7.8 8.8 Unrestricted donations 13.1 11.0 Rental income 6.1 5.8 Sundry income 16.3 14.6 111.4 102.6 7 Endowment and investment income 2009 2008 £m £m Restated Income from expendable endowment asset investments 9.6 10.5 Income from permanent endowment asset investments 24.0 21.9 Income from fixed asset investments 15.5 13.9 Other investment income 4.4 12.6 53.5 58.9 Less Cambridge University Endowment Fund distributions funded out of long-term capital growth. (25.8) (4.5) 27.7 54.4 The University operates a unitised fund, the Cambridge University Endowment Fund (CUEF), for long-term investment in respect of individual restricted endowments and other balances, and by other group undertakings.The CUEF is managed on a total return basis and invests in asset classes some of which generate little or no income. Distributions are made to unit-holding funds according to a formula which has regard to the total return reasonably to be expected in the long term, in proportion to the number of units held. Investing funds receive distributions as income. In the year ended 31 July 2009, distributions by the CUEF exceeded income received in the year by the CUEF from its underlying investments by 25.8m (2008: £4.5m), the balance of the distributions being funded by drawing on long-term capital growth. 82 University of Cambridge Annual Report 2009
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