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Financial Statements 2011-12 35


Notes to the Financial Statements For the year ended 31 July 2012


18 Provisions for liabilities and charges


Consolidated and University Early


Severances £’000


At 1 August 2011 Utilised in year


Charge for the year At 31 July 2012


(1,397) 184


retirement £’000


1,330 49 (48) 0


The Severances provision exists to meet the costs of employees who have agreed to take early retirement or voluntary severance under the University’s restructuring scheme.


The early retirement provision has been set up to meet enhanced unfunded pension benefits for former staff who are members of the Local Government Pension Scheme.


19 Deferred capital grants and gifts


Funding Council £’000


At 1 August 2011 Buildings Equipment


Cash received Buildings Equipment


Released to income and expenditure account (notes 1, 3 and 4): Buildings Equipment


At 31 July 2012 Buildings Equipment


Consolidated and University Other grants £’000


35,494 24,098 38,566


Total £’000


59,592


3,072 0 3,072 24,098


1,372 646


2,018


(1,236) (1,085) (2,321)


4,160 0


4,160


(614) 0


(614)


35,630 27,644 2,633 0 38,263 27,644


62,664


5,532 646


6,178


(1,850) (1,085) (2,935)


63,274 2,633


65,907


Grants received in the year included £2.018m from HEFCE for both building costs and equipment. In addition The Edge Foundation gave £2.220m for the development of a hotel school at Wivenhoe House and £1.940m was received from ESRC for the Provision of a Data Centre.


Grants released to the income and expenditure account are to fund depreciation charges as shown in note 9.


Total £’000


1,379


(1,445) 184


117 1 118


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