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NOTES TO
FINANCIAL STATEMENTS (CONT’D)
31 March 2015
14 GRANTS RECEIVABLE/IT AND F&E GRANTS/SINKING FUND RECEIVED IN ADVANCE (cont’d)
These are grants from the Government Ministry and statutory boards for financing development projects.
(a) This amount relates to grants received in advance for the purchase of IT and F&E items to support teaching
and administrative functions.
(b) This amount relates to sinking fund received in advance from the Government Ministry for the purpose of
maintenance and replacement of property, plant and equipment.
15 PROVISIONS
Group University Company
Note 2015 2014 2015 2014
$’000 $’000 $’000 $’000
Provision for unutilised
compensated leave (a) 51,807 49,374 51,541 49,193
Provision for undergraduate funding (b) 53,527 47,170 53,527 47,170
105,334 96,544 105,068 96,363
(a) The movement in the provision for unutilised compensated leave is as follows:
Group University Company
2015 2014 2015 2014
$’000 $’000 $’000 $’000
At 1 April 49,374 43,257 49,193 43,096
Provision made during the year 2,433 6,117 2,348 6,097
At 31 March 51,807 49,374 51,541 49,193
(b) The movement in the provision for undergraduate funding is as follows:
Group University Company
2015 2014 2015 2014
$’000 $’000 $’000 $’000
At 1 April 47,170 54,599 47,170 54,599
(854) 4,675 (854) 4,675
Provision (reversed)/made during the year 7,211 (12,104) 7,211 (12,104)
Amount refunded/(paid) 53,527 47,170 53,527 47,170
At 31 March
70 NTU ANNUAL REPORT 2015
