2006 Annual Report - University of Salford

Annual Report &
Financial Statements
Notes to the Accounts
23 Provisions for Liabilities and Charges
Provision for Enhanced Pension Standardisation Total
Residential Benefits Payable of Pension
Accommodation to Retired Staff Benefits to Former
Lease
University College
Salford Staff
£’000 £’000 £’000 £’000
Consolidated and University
As previously reported at 1 August
2005 1,366 9,040 623 11,029
Prior Year Adjustment - (9,040) - (9,040)
Restated at 1 August 2005 1,366 - 623 1,989
Expenditure in Year (1,366) - (127) (1,493)
Interest on Funds (Note 5) - - 34 34
Transfer from Income and
Expenditure Account - - 91 91
As at 31 July 2006 - - 621 621
The prior year adjustment relates to the introduction of FRS 17 and the reclassification of enhanced pension
benefits payable to retired staff within the pension scheme deficit.
24 Deferred Capital Grants
Land & Buildings Equipment Total
£’000 £’000 £’000
Consolidated and University
Higher Education Funding Council Grants
At 1 August 2005 20,977 2,004 22,981
Grant Received 1,767 2,398 4,165
Released to Income and Expenditure (Note 1) (1,230) (1,213) (2,443)
Exceptional Release on anticipated demolition of
Lankester Building (Note 11) (359) - (359)
At 31 July 2006 21,155 3,189 24,344
Other Grants
At 1 August 2005 5,173 449 5,622
Grant Received - 59 59
Released to Income and Expenditure (Notes 3,4) (195) (216) (411)
At 31 July 2006 4,978 292 5,270
Total
At 31 July 2006 26,133 3,481 29,614
At 1 August 2005 26,150 2,453 28,603
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