Page 77 - Nanyang Technological University

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

19 RESEARCH GRANTS RECEIVED IN ADVANCE

Group University Company

Note 2016 2015 2016 2015

$’000 $’000 $’000 $’000

At 1 April 97,230 99,967 96,920 99,797

Grants received during the year 381,108 310,029 377,668 309,382

478,338 409,996 474,588 409,179

Less:

Amounts transferred to deferred

capital grants 14 (47,390) (44,930) (47,390) (44,930)

Amounts taken to profit or loss (337,094) (296,943) (336,280) (296,498)

Amounts refunded to the Government

Ministry, other ministries and

statutory boards (21) (62) - -

Amounts transferred to grant receivables 8,969 29,169 8,969 29,169

At 31 March 102,802 97,230 99,887 96,920

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 2016 amounted to $503,400,000 (2015: $502,500,000).

The research grants awarded from the Government Ministry, other ministries, statutory boards, A*Star and other
sources but not yet disbursed as at end of the financial year amounted to $957,535,000 (2015: $1,012,489,000).

20 CAPITAL ACCOUNT

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

21 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.

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