Annual Report 2007-8 - The British School at Rome

N OTES TO THE FINANCIAL STATEMENTSfor the year ended 31 March 200817. UNRESTRICTED FUNDSGeneral Capital Designated Total TotalFunds Fund Funds 2008 2007£’000 £’000 £’000 £’000 £’000At 1 April 908 278 1,307 2,493 2,373Transfer fromrestricted funds - - - - 9Net incoming/(outgoing)resources 32 - (2) 30 10Realised gainson investments 16 - 6 22 54Unrealised (losses)/ gainson investments (96) - (38) (134) 47At 31 March 860 278 1,273 2,411 2,493The designated funds are funds set aside by Council for various grants forresearch and scholarship and arise from unrestricted bequests.18. RESTRICTED FUNDSBritish Academy Getty Cary Appeal PHI Other Total TotalFund Fund Fund Funds Funds Funds 2008 2007£’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000At 1 April - - 164 30 380 46 620 603Transfer todesignated funds - - - - - - - (9)Total incomingresources 20 115 7 13 3,173 63 3,391 1,953Total resourcesexpended (5) (17) (7) (11) (1,533) (9) (1,582) (1,939)Realised gains oninvestments - - 2 - - - 2 5Unrealised (losses)/ gains on investments- - (12) - - (3) (15) 7The bequest establishing the Cary Fund was restricted and Council determined inNovember 1995 that it should be used to create a fellowship to enable anacademic to undertake research in Rome and to be involved with a Schoolpostgraduate taught course.The Packard Humanities Institute (PHI) Funds represent grants given by theInstitute to finance specific projects, principally in Herculaneum.The British Academy Fund relates to funding for a collaborative project with theSociety for Libyan Studies to fund a series of Punic Mediterranean workshops.The Getty Fund represents grants given by the Getty Foundation for thearrangement and description of the J.B. Ward-Perkins photographic collection.19. ANALYSIS OF NET ASSETS BETWEEN FUNDSUnrestricted RestrictedFunds Funds Total£’000 £’000 £’000Fund balances at 31 March 2008 are represented by:Tangible fixed assets 575 - 575Investments 1,908 240 2,148Cash 308 2,323 2,631Other current assets 67 - 67Current liabilities (215) (147) (362)Long-term liabilities (232) - (232)Total net assets 2,411 2,416 4,82720. COMMITMENTSThe School has awarded grants and scholarships totalling £85,210 to be paidin 2008–9 (2007–8 — £88,000). No provision has been made for these grantsas the conditions attaching to the grants had not been met at 31 March 2008.21. CONTROLLING PARTYThe activities of the School are controlled by Council. There is no ultimatecontrolling party of the School.At 31 March15 98 154 32 2,020 97 2,416 62050