Page 74 - Nanyang Technological University

NOTES TO FINANCIAL STATEMENTS
(cont’d)
31 March 2016

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

Group and

University Company

Note 2016 2015

$’000 $’000

Grants receivable within 12 months

- Development grant 32,657 86,301

- IT and F&E grant - 4,862

- Sinking fund 242 5,491

Subtotal 11 32,899 96,654

Grants received in advance (a) (44,991) (43,503)
- IT and F&E (b) (288,027) (280,414)
- Sinking fund
(333,018) (323,917)
Subtotal

Total (300,119) (227,263)

Grants received in advance represented as: (44,991) (43,503)
Current portion
- IT and F&E (38,840) (39,652)
- Sinking fund
(83,831) (83,155)

Non-current portion (249,187) (240,762)
- Sinking fund (333,018) (323,917)

Movements in grants (received in advance)/receivable:

Group and

Note University Company

2016 2015

$’000 $’000

At 1 April (227,263) (305,257)

Grants received during the year (302,070) (226,925)

(529,333) (532,182)

Less:

Amounts transferred to deferred

capital grants 14 206,792 272,054

Amounts taken to profit or loss 22,422 32,865

At 31 March (300,119) (227,263)

72 NTU ANNUAL REPORT 2016