Page 71 - Nanyang Technological University

ON A RAPID RISE

NOTES TO
FINANCIAL STATEMENTS (CONT’D)

31 March 2015

14 GRANTS RECEIVABLE/IT AND F&E GRANTS/SINKING FUND RECEIVED IN ADVANCE

Group and
University Company

2015 2014
$’000 $’000

Note

Grants receivable within 12 months

- Development grant 86,301 7,892
4,862 -
- IT and F&E grant 5,491 -

- Sinking fund 96,654 7,892

Subtotal 10

Grants received in advance (a) (43,503) (44,930)
- IT and F&E (b) (280,414) (268,219)
- Sinking fund
(323,917) (313,149)
Subtotal

Total (227,263) (305,257)

Grants received in advance represented as: (43,503) (44,930)
Current portion
- IT and F&E (39,652) (40,949)
- Sinking fund
(83,155) (85,879)

Non-current portion (240,762) (227,270)
- Sinking fund (323,917) (313,149)

Movements in grants (received in advance)/receivable: Note Group and
University Company

2015 2014
$’000 $’000

At 1 April (305,257) (255,808)
Grants received during the year (226,925) (188,201)

(532,182) (444,009)

Less:

Amounts transferred to deferred

capital grants 13 272,054 117,035

Amounts taken to profit or loss 32,865 21,717

At 31 March (227,263) (305,257)

NANYANG TECHNOLOGICAL UNIVERSITY AND ITS SUBSIDIARIES 69