Page 74 - Nanyang Technological University

NOTES TO
FINANCIAL STATEMENTS (CONT’D)

31 March 2015

18 RESEARCH GRANTS RECEIVED IN ADVANCE

Group University Company

Note 2015 2014 2015 2014

$’000 $’000 $’000 $’000

At 1 April 99,967 127,382 99,797 127,228

Grants received during the year 310,029 260,773 309,382 260,404

409,996 388,155 409,179 387,632

Less:

Amounts transferred to deferred

capital grants 13 44,930 40,369 44,930 40,369

Amounts taken to profit or loss 296,943 268,349 296,498 267,996

Amounts refunded to the Government

Ministry, other ministries and

statutory boards 62 - - -

Amounts transferred to grant receivables (29,169) (20,530) (29,169) (20,530)

At 31 March 97,230 99,967 96,920 99,797

These are grants received from the Government Ministry, other ministries, statutory boards, Agency for Science,
Technology & Research (“A*Star”) and other sources for research activities. The balance in this account represents
grants received but not utilised at the end of the financial year.

The research grants awarded from the Government Ministry, other ministries, statutory boards, A*Star and other
sources in 2015 amounted to $502,500,000 (2014: $522,500,000).

19 CAPITAL ACCOUNT

The capital account represents the revaluation of the freehold land alienated to Nanyang Technological University
(details are set out in Note 3).

20 ENDOWMENT FUND AND OTHER RESTRICTED FUND

The Endowment Fund comprises donations, grants, gifts, testamentary disposition and proceeds from gifts of
movable or immovable properties. The objectives of this fund comprise the provision of facilities for teaching,
training and research, the advancement and dissemination of knowledge and the promotion of research.

72 NTU ANNUAL REPORT 2015