Page 75 - Nanyang Technological University
P. 75
NOTES TO FINANCIAL STATEMENTS
(cont’d)
31 March 2016
15 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.
16 PROVISIONS
Group University Company
2016 2015 2016 2015
Note $’000 $’000 $’000 $’000
Provision for unutilised (a) 53,137 51,807 52,829 51,541
compensated leave
(b) 47,084 53,527 47,085 53,527
Provision for undergraduate funding
100,221 105,334 99,914 105,068
(a) The movement in the provision for unutilised compensated leave is as follows:
Group University Company
2016 2015 2016 2015
$’000 $’000 $’000 $’000
At 1 April 51,807 49,374 51,541 49,193
Provision made during the year 1,330 2,433 1,288 2,348
At 31 March 53,137 51,807 52,829 51,541
(b) The movement in the provision for undergraduate funding is as follows:
Group University Company
2016 2015 2016 2015
$’000 $’000 $’000 $’000
At 1 April 53,527 47,170 53,527 47,170
Provision made/(reversed) during the year 5,243 (854) 5,243 (854)
Amount (paid)/refunded (11,686) 7,211 (11,685) 7,211
At 31 March 47,084 53,527 47,085 53,527
NANYANG TECHNOLOGICAL UNIVERSITY AND ITS SUBSIDIARIES 73
