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2 Financial Statements 2011-12


Contents


Financial Statements 2011-12 Chair’s Introduction Financial Highlights


Operating and Financial Review Public Benefit


Corporate Governance Statement


Independent Auditor’s Report to the Members of Council Accounting Policies


Consolidated Income and Expenditure Account


Consolidated Statement of Total Recognised Gains and Losses Balance Sheet


Consolidated Cash Flow Statement Notes to the Financial Statements Five-Year Summary of Financial Position


3 4 5


12 16 20 21 25 26 27 28 29 49


Front cover pictures, clockwise from top left: The newly restored Grade II listed Wivenhoe House has reopened as a luxury hotel and provides a home for the Edge Hotel School; students outside the award-winning University Square complex at the Southend Campus; and the 1,000 seat Ivor Crewe Lecture Hall is another award-winning building at the heart of the Colchester Campus. Inside cover picture: Students enjoy meeting up after lectures in Square 3 at the Colchester Campus.


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