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|ANNUAL REPORT AND FINANCIAL|ANNUAL REPORT AND FINANCIAL|ANNUAL REPORT AND FINANCIAL|STATEMENTS|||
|---|---|---|---|---|---|
|For the year ended 31 July 2022||||||
|CONTENTS||||page||
|Directors and Advisors||||||
|Introduction
and Nature ofthe University||||||
|Strategic Report||||||
|Charitable
Purpose
and Public Benefit||||||
|Directors' Report|||||13|
|Corporate
Governance|||||16|
|Independent
Auditor's|Report||||21|
|Statement ofPrincipal|Accounting|Policies|||25|
|Statement ofComprehensive
Income and Expenditure|||||29|
|Statement ofChanges|in Reserves||||30|
|Balance Sheet|||||31|
|Cash Flow Statement|||||32|
|Notes to the Financial|Statements||||33|
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|Pension actuarial
adjustments:|||
|---|---|---|
|- Current service costs in excess ofcontributions|3,351|2,790|
|-Net interest on pension
liabilities|495|487|
|Surplus for the year as per the Statement ofComprehensive
Income 4Expenditure|6575|4,533|
|"' excluding
pension
actuarial adjustinents|||
|Cash generation
and liquidity:|2022|2021|
||X'000|f.'000|
|EBITDA for the year|13,638|10,865|
|Operating
cash flow|15,417|10,891|
|Cash and short term investments|39,124|27,960|
|Borrowings|(8,518)|(9,188)|
|Net funds|30,606|18,772|
##
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||||||Target 21/22|Actual 21/22|Actual 20/21|
|---|---|---|---|---|---|---|---|
|EBITDA|||||KlI,Om|f.13,6m|f.I0.9m|
|Operating|Surplus (exc pension|actuarial|adjustments)||X8.0m|f.I0,4m|K7.8m|
|Staff costs|as a%ofincome (exc pension||actuarial|adjustments)|53,5%|49.9%|50.6%|
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|Streamlined
Euergy|Streamlined
Euergy|and Carbon|and Carbon|Reporting|||||
|---|---|---|---|---|---|---|---|---|
|As a company
limited||by guarantee,||the University|is covered by the government's|policy on Streamlined||Energy and|
|Carbon Reporting,|which aims to increase awareness of energy costs and help to|||||prompt a reduction|on the impact on||
|climate change.|||||||||
|Greenhouse
gas emissions|||and energy use data for||the period:|2021l22||2020/21|
|Energy consumption||used to calculate emissions (kWh)'||||8,308,227||8,235,099|
|Energy consumption||break|down (kWh) (optional):||||||
|Gas||||||6,361,048||6,762,083|
|Electricity||||||1,858,695||1,473,016|
|Transport
fuel||||||88,484||6,807|
|Scope 1 emissions|in|metric tonnes||CO2e:|||||
|Gas consumption||||||1,217||1,239|
|Owned transpoit|||||||||
|Total scope I||||||1,218||1,240|
|Scope 2 emissions|in|metric tonnes||CO2e:|||||
|Purchased
electricity||||||285||313|
|Scope 3 emissions|in|metric tonnes||CO2e;|||||
|Business travel in employee|||owned|vehicles||6.8|||
|Total gross emissions||in metric tonnes CO2e||||1,510||1,557|
|Intensity
ratio:|||||||||
|Tonnes CO2e per member|||ofstaff|and students||0,28||0.37|
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|For the year ended|31|July 20|22||||||
|---|---|---|---|---|---|---|---|---|
||||||||Year ended|Year ended|
|||||||Note|31July|31July|
||||||||2022|2021|
|INCOME|||||||||
|Tuition fees and|education||contracts||||47,636,570|40,529,328|
|Funding
body grants|||||||2,581,513|1,884,821|
|Research grants|and|contracts|||||37,810|44,552|
|Other income|||||||4,217,889|3,108,522|
|Investment
income|||||||84,759|87,451|
|Donations
and Endowments|||||||||
|Total income|||||||54,558,541|45,654,674|
|EXPENDITURE|||||||||
|Staff costs||||||7,8|30,591,874|25,907,254|
|Other operating|expenses|||||8|13,448,712|11,440,772|
|Depreciation
Interest and other finance costs||||||8,9
8|3,169,606
773,533|3,015,709
758,044|
|Total expenditure|||||||47,983,725|41,121,779|
|Surplus for the year|||||||6,574,816|4,532,895|
|Actuarial
gain/(loss)||in respect of|||pension|14|27,227,000|8,811,000|
|schemes|||||||||
|Total Coniprehensive||income||/ (expense) for the year|||33,801,816|13,343,895|
|Represented
by:|||||||||
|Unrestricted
comprehensive|||income||/ (expense) for the year||33,801,816|13,343,895|
||||||||33,801,816|13,343,895|
##
|||Income and|Expenditure|Account|Revaluation|Total|
|---|---|---|---|---|---|---|
||||||Reserve||
|||Endowment|Restricted|Unrestricted|||
|Balance at 1August 2020||6,272|318|3,463,512|4,900,764|8,370,866|
|Surplus
fi'om
income|and|||4,532,895||4,532,895|
|expenditure
statement|||||||
|Other comprehensive
expense||||8,811,000||8,811,000|
|Transfer
between
revaluation|and|||204,086|(204,086)||
|income and expenditure
reserve|||||||
|Total
comprehensive
income|/|||13,547,981|(204,086)|13,343,895|
|(expense) for the year|||||||
|Balance at 1 August 2021||6,272|318|17,011,493|4,696,678|21,714,761|
|Surplus
fi'om
income|and|||6,574,816||6,574,816|
|expenditure
statement|||||||
|Other comprehensive
expense||||27,227,000||27,227,000|
|Transfer
between
revaluation|and|||204,086|(204,086)||
|income and expenditure
reserve|||||||
|Total
comprehensive
income|/|||34,005,902|(204,086)|33,801,816|
|(expense) for the year|||||||
|Balance at 31July 2022||6,272|318|51,017,395|4,492,592|55,516,577|
##
|BALANCE SHEET|BALANCE SHEET|||||||
|---|---|---|---|---|---|---|---|
|As at 31July 2022||||||||
||||||Note|31July|31July|
|||||||2022|2021|
|NON CURRENT ASSETS||||||||
|Fixed assets||||||39,438,39]|38,973,737|
|CURRENT|ASSETS|||||||
|Stock||||||13,146|17,483|
|Trade and other receivables|||||10|4,992,108|3,487,106|
|Investments|||||11|13,193,601|11,220,269|
|Cash and cash equivalents||||||25,929,979|16,739,639|
|Less:||||||44,128,834|31,464,497|
|Creditors:|amounts
falling due within||one|year|12|(9,912,093)|(6,294,476)|
|NET CURRENT ASSETS||||||34,216,741|25,170,021|
|Total assets|less current|liabilities||||73,655,132|64,143,758|
|Creditors:|amounts
falling due after||more|than one year|13|(11,183,316)|(12,054,909)|
|Provisions|for pensions||||14|(6,955,239)|(30,374,088)|
|TOTAL NET ASSETS||||||55,516,577|21,714,761|
|Restricted Reserves||||||||
|Income and|expenditure|reserve —endowment||reserve|15|6,272|6,272|
|Income and|expenditure|reserve —restricted reserve|||15|318|318|
|Unrestricted|Reserves|||||||
|Income and|expenditure|reserve||||51,017,395|17,011,493|
|Revaluation|reserve||||16|4,492,592|4,696,678|
|TOTALRESERVES||||||55,516,577|21,714,761|
|CASH FLOW STATEMENT
For the year ended 31 July 2022|||||
|---|---|---|---|---|
||||Year ended|Year ended|
||||31July|31July|
||||2022|2021|
|Cash flow from operating
activities|||||
|Surplus for the year|||6,574,816|4,532,895|
|Adjustment
for non-cash
items|||||
|Depreciation
(note 8)|||3,169,606|3,015,709|
|DefeiTed capital grants released to income (note 2)|||(228,970)|(231,607)|
|Decrease/(Increase)
in stock|||4,337|2,516|
|(Increase) in debtors|||(1,505,002)|(I,170,782)|
|Increase/(Decrease)
in creditors|||3,381,240|1,318,455|
|Decrease in provisions|||(37,849)|(41,560)|
|Current
and past service cost in excess of conti~butions||(note 8)|3,351,000|2,790,000|
|Adjustment
for investing
or financing|activities||||
|Investment
income (note 5)|||(84,759)|(87,451)|
|Interest and other finance costs (note 8)|||773,533|758,044|
|Loss on write-off and disposal offixed assets|||18,804|5,096|
|Net cash inflow from operating
activities|||iI5,416,756|10,891,315|
|Cash flows from investing
activities|||||
|Payments
made to acquire fixed assets|||(3,327,861)|(1,861,811)|
|Movement
on deposits|||(1,973,332)|3,921,849|
|DefeiTed capital grant received|||30,000|330,951|
|Other interest received|||9,831|78,152|
||||(5,261,362)|2,469,141|
|Cash flows from financing
activities|||||
|Interest paid|||(294,466)|(282,291)|
|New term loan boiTowings|||||
|Repayment ofprevious
loan borrowings|||(670,588)|(670,588)|
||||(965,054)|(952,879)|
|Increase/(Decrease)
in cash in the year|(note 17)||9,190,340|12,407,577|
##
|ITION|FEESAND|EDUCATION CONTRACTS|||
|---|---|---|---|---|
||||Year ended|Year ended|
||||31July 2022|31July 2021|
|Full-time|home and EU students||46,304,208|39,472,660|
|Full-time|international|students|219,500|121,000|
|Part-tine|home and EU students||1,112,862|935,668|
||||47,636,570|40,529,328|
##
##
|NDING|BODY GRANTS||||||
|---|---|---|---|---|---|---|
||||||Year ended|Year ended|
||||||31July 2022|31July 2021|
|||OfS|DofE|UKRI|Total|Total|
|Recurrent|grant|1,825,763||119,935|1,945,698|1,092,410|
|Specific grants||68,211|2,682|335,952|406,845|560,804|
|Releases ofdeferred|||||||
|capital grants,|||||||
|Buildings||228,970|||228,970|231,607|
|Total||2,122,944|2,682|455,887|2,581,513|1,884,821|
|he source ofgrant and fee incom|e included
within notes
1 an|d 2 is as follows;||
|---|---|---|---|
|||Year ended|Year ended|
|||31July 2022|31July 2021|
|Grant income fi.om the OfS||2,122,944|1,695,842|
|Grant income from other bodies||458,569|188,979|
|Fee income for taught awards||47,540,200|40,422,193|
|Fee income for research awards||42,500|56,500|
|Fee income fiom non-qualifying|courses|53,870|50,635|
|||50,281,083|42,414,149|
##
|RESEARCH GRANTS AND CONTRACTS||||
|---|---|---|---|
||Year ended||Year ended|
||31|July 2022|31July 2021|
|Research councils and charities||37,810|42,559|
|Government|||1,993|
|Other||||
|||37,810|44,552|
##
##
|4.|OTHER INCOME||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||Year ended|Year ended|
||||||||||||31July 2022|31July 2021|
||Residences,
catering|and||conferences|||||||3,271,450|2,163,695|
||Other income||||||||||946,439|944,827|
||||||||||||4,217,889|3,108,522|
|5.|INVESTMENT INCOME||||||||||||
||||||||||||Year ended|Year ended|
||||||||||||31July 2022|31July 2021|
||Income ftom short term|||investments|||||||84,759|87,451|
|6.|DONATIONS
AND|ENDOWMENTS|||||||||||
||||||||||||Year ended|Year ended|
||||||||||||31July 2022|31July 2021|
||Unrestricted
donations||||||||||||
|7.|STAFF COSTS||||||||||||
||||||||||||Year ended|Year ended|
||||||||||||31July 2022|31July 2021|
||||||||||||No|No|
||The average number|ofpersons (including||||senior post-holders)|||employed||||
||by the University
during|||the|year, expressed||as full-tune|equivalents,||was:|||
||Lecturing staff, holders ofsenior posts, staff||||||paid on academic||scales|and|230|174|
||part-time
lecturers||||||||||||
||Administrative,
professional||||aud technical|staff|||||280|253|
||Other||||||||||31|24|
||||||||||||541|451|
||||||||||Note||Year ended|Year ended|
||Staff costs for the above persons:||||||||||31July 2022|31July 2021|
||Wages aud salaries||||||||||20,833,324|17,789,235|
||Social security costs||||||||||2,146,147|1,743,995|
||Contributious
to pension|||schemes|||||20||4,104,493|3,553,593|
||Pension enhancement||costs||||||20||32,171|25,431|
||Restructuring
costs||||||||||124,739|5,000|
||Service cost in excess||ofcontributions||||||20||3,351,000|2,790,000|
||Total||||||||||30,591,874|25,907,254|
##
|||||Year ended|Year ended|
|---|---|---|---|---|---|
|Severance payments
included||within staff costs:||31July 2022|31July 2021|
|Total severance|and other compensation||paid|124,739|5,000|
|||||No|No|
|The number of|people that this|relates to||2|1|
|Year ended|Year ended|
|---|---|
|31July 2022|31July 2021|
|No|No|
|||Year ended|Year ended|
|---|---|---|---|
|Directors'|remuneration|31July 2022|31July 2021|
|Emoluments||273,420|260,839|
|Pension contributions||63,769|50,650|
|||337,189|311,489|
|The number ofdirectors who:||Year ended|Year ended|
|||31July 2022|31July 2021|
|||No|No|
|Are members ofa defined benefit pension scheme||||
##
|Reinuneratio|n
ofthe Vice Chancellor
(being the highest pa|id director):||
|---|---|---|---|
|||Year ended|Year ended|
|||31July 2022|31July 2021|
|Salaiy||190,000|138,750|
|Bonus||||
|Supplement|in lieu ofpension contributions|||
|||190,000|138,750|
|Pension contributions||44,992|32,856|
|||234,992|171,606|
|Ratio|ofthe remuneration
ofthe Vice Chancello|r
to the median for the whole workforce:||
|---|---|---|---|
|||Year ended|Year ended|
|||31July 2022,|31July 2021|
|Basic|Salary|5.6:I|5.5:1|
|Total|Remuneration|5.8:I|5,5:I|
|||Year ended|Year ended|
|---|---|---|---|
|Key Management|Personnel|31July 2022|31July 2021|
|Emoluments||656,923|546,695|
|||656,923|546,695|
##
##
||||||Interest|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Other|and other|Year ended|Year ended|
|||||operating|finance|31July|31July|
|||Staff costs|Depreciation|expenses|costs|2022|2021|
|Academic
depaitments||14,608,492|21,262|3,854,495|80|18,484,329|15,422,596|
|Academic services||2,758,692|1,008,825|1,811,388|1,412|5,580,317|5,129,874|
|Residences
and catering||531,201|469,549|890,528|636|1,891,914|1,811,723|
|Research grants and contracts||45,187||51,067||96,254|54,375|
|Premises||961,377|1,625,658|1,248,099||3,835,134|3,372,522|
|Administration
and other||8,335,925|44,312|5,575,110|276,405|14,231,752|12,048,593|
|Exceptional
restiwcturing|cost|||||||
|Loss on w/off offixed assets||||18,025||18,025|5,096|
|Service cost in excess of||3,351,000||||3,351,000|2,790,000|
|contributions||||||||
|Exceptional past service|cost||||495,000|495,000||
|Net interest on pension|||||||487,000|
|liabilities||||||||
|Total per income and
expenditure
account||30,591,874|3,169,606|13,448,712|773,533|47,983,725|41,121,779|
|Other operating
expenses include:|Other operating
expenses include:|Other operating
expenses include:|Other operating
expenses include:||||Year ended|Year ended|
|---|---|---|---|---|---|---|---|---|
||||||||31July 2022|31July 2021|
|External|auditor's|remuneration|for auditing ofthe|financial||statements|48,000|42,600|
|External|auditor's|remuneration|for other assurance|services|||5,600|4,440|
|External|auditor's|remuneration|for taxation compliance||services||||
|Payments|under|operating
leases|in respect ofequipment||||102,657|121,639|
##
|||||Furniture,|||
|---|---|---|---|---|---|---|
|||Assets in the|Freehold|equipment,|||
|||course of|land and|fixtures|Motor||
|||construction|buildings|and fittings|vehicles|Total|
|Cost/valuation|||||||
|At I August 2021 at cost||818,525|49,272,782|9,269,427|57,558|59,418,292|
|At 1 August 2021 at valuation|||12,355,611|||12,355,611|
|Additions|during the year|1,012,447|1,648,434|992,184||3,653,065|
|Completed|during the year|(818,525)|818,525|(684,479)||(684,479)|
|Disposals|during the year||||||
|At 31July|2022|1,012,447|64,095,352|9,577, 132|57,558|74,742,489|
|At cost||1,012,447|51,739,740|9,577,132|57,558|62,386,877|
|At valuation|||12,355,612|||12,355,612|
|At 31 July|2022|1,012,447|64,095,352|9,577, 132|57,558|74,742,489|
|Accumulated
depreciation|||||||
|At I August 2021|||26,283,785|6,463,075|53,306|32,800,166|
|Charge for the year|||2,052,360|1,112,994|4,252|3,169,606|
|Disposals||||(665,674)||(665,674)|
|At 31 July|2022||28,336,145|6,910,395|57,558|35,304,098|
|Net book|value||||||
|At 31 July|2022|1,012,447|35,759,207|2,666,737||39,438,391|
|At 31 July|2021|818,525|35,344,608|2,806,352|4,252|38,973,737|
##
##
||||31July 2022|31July 2021|
|---|---|---|---|---|
|Amounts
falling due within||one year:|||
|Trade debtors|||3,465,936|2,274,909|
|Prepayments|and accrued income||1,526,172|1,212,197|
||||4,992,108|3,487,106|
|11.|INVESTMENTS|||
|---|---|---|---|
|||31July 2022|31July 2021|
||Deposits maturing:|||
||In one year or less|13,193,601|11,220,269|
##
##
|Trade creditors|Trade creditors||3,438,085|1,095,410|
|---|---|---|---|---|
|Bank loan repayable
in less||than one year|670,588|670,588|
|Payments|received in advance||131,970|203,407|
|Social security
and other taxation payable|||769,834|459,496|
|Pensions|and similar obligations||540,592|422,231|
|Deferred|capital grants||233,642|231,607|
|Accruals|and other deferred|income|4,065,544|2,928,249|
|Nnounts|owing to funding|councils|61,838|283,488|
||||9,912,093|6,294,476|
##
|CREDITORS: AMOUNTS FALLING DUE AF|TER MORE THAN ONE YEAR||
|---|---|---|
||31July 2022|31July 2021|
|Bank loan|7,847,058|8,517,648|
|Deferred capital grants|3,336,258|3,537,261|
||11,183,316|12,054,909|
##
##
##
##
|||Restricted permanent|Expendable|2022 Total|2021 Total|
|---|---|---|---|---|---|
|||endowments|Endowments|||
|Balances at|1August|||||
|Capital||318|6,272|6,590|6,590|
|New endowments||||||
|Investment
income||||||
|Expenditure||||||
|At 31July||318|6,272|6,590|6,590|
|Represented|by|||||
|Cash||318|6,272|6,590|6,590|
|Analysis
by|type ofpurpose|||||
|Scholarships|and bursaries|318|4,965|5,283|5,283|
|Prize funds|||1,307|1,307|1,307|
|||318|6,272|6,590|6,590|
##
||||2022|2021|
|---|---|---|---|---|
|At 1 August|||4,696,678|4,900,764|
|Transfer from|revaluation|reserve to general reserve in respect of;|||
|Depreciation|on revalued|assets|(204,086)|(204,086)|
|At 31July|||4,492,592|4,696,678|
##
|||At 31July||At 31July||
|---|---|---|---|---|---|
|||2021|Cash flows|2022||
|Cash at bank and in hand||16,739,639|9,190,340|25,929,979||
|Current asset investments||11,220,269|1,973,332|13,193,601||
|Total short term funds||27,959,908|11,163,672|39,123,580||
|Debts due within
one year||(670,588)||(670,588)||
|Debts due after one year||(8,517,648)|670,588|(7,847,060)||
|Total||18,771,672|11,834,260|30,605,932||
|LEASE OBLIGATIONS||||||
|Rentals payable under operating|leases|||31July 2022|31July 2021|
|Future minimum
lease payments|due:|||||
|Due within one year|||||67,338|
|Due between two and five years||||||
|Due in five years or more||||||
|Total lease payments
due|||||67,338|
##
##
||||31|July 2022|31July 2021|
|---|---|---|---|---|---|
|Commitinents|contracted|for||144,408|1,378,477|
##
##
##
##
##
|e niateria|l
assump|tions
used by the actuary for FRS102|at 31 July 2022 were,'||
|---|---|---|---|---|
||||31July|31July|
||||2022|2021|
|Rate of|increase|in salaries|3,850ro|3.85'ro|
|Liability|discount|rate|3,400/ o|1.70lo|
|Inflation|assumption||2.600/o|2.60'so|
|||31July|31July|
|---|---|---|---|
|||2022|2021|
|Retiring|today|||
|Males||21,8|21.9|
|Females||24.6|24.7|
|Retiring|in 20years|||
|Males||22.5|22,6|
|Females||25,7|25,8|
|The asset allo|cation ofthe defined benefit scheme|is shown below:||
|---|---|---|---|
|||31July 2022|31July 2021|
|Value||K'000|K'000|
|Equities||43,070|40,819|
|Property||2,172|1,883|
|Government|Bonds|3,747|4,174|
|Other Bonds||2,335|2,240|
|Cash/liquidity||2, 172|1,120|
|Other||815|662|
|Total||54,311|50,898|
|Analysis ofthe|amount|shown|shown|in the balance sheet|31July|31July|
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||4'000|f.'000|
|The University's|estnnated||asset|share|54,311|50,898|
|Present value of|the University's|||Scheme liabilities|(60,953)|(80,921)|
|Deficit in the Scheme -||Net|pension liability||(6,642)|(30,023)|
##
|Analysis ofthe amount|charged|charged|to|staff costs within operating|surplus|2022|2021|
|---|---|---|---|---|---|---|---|
|||||||f.'000|f'000|
|Current service cost||||||(5,243)|(4,342)|
|Past service cost||||||||
|Total operating
charge||||||(3,243)|(4,342)|
|Analysis ofamount
that|is charged|||to other finance costs||2022|2021|
|||||||X'000|K'000|
|Interest income on pension||scheme assets||||877|582|
|Interest on pension scheme liabilities||||||(1,372)|(1,069)|
|Net charge||||||(493)|(487)|
|Analysis ofthe amount|recognisable|||in the Statement ofComprehensive||2022|2021|
|Income and Expenditure||(SOCI)||||K'000|f.'000|
|Actuarial
gain / (loss) recognised|||in SOCI|||27,277|8,811|
|Net gain
/ (loss)||||||27,277|8,811|
|Analysis ofthe movement||in the|present value ofthe scheme||liabilities|2022|2021|
|||||||X'000|K'000|
|At beginning ofyear||||||80,921|76,684|
|Current service cost||||||5,243|4,342|
|Interest cost||||||1,372|1,069|
|Contributions
by scheme|participants|||||688|569|
|Actuarial
losses / (gains)||||||(26,040)|(464)|
|Benefits paid||||||(1,231)|(1,279)|
|Past service cost||||||||
|At end ofyear||||||60,953|80,921|
|Analysis ofthe movement||in the|market value ofthe scheme assets|||2022|2021|
|||||||f'000|K'000|
|At beginning ofyear||||||50,898|41,127|
|Expected rate ofreturn on||scheme|assets|||877|582|
|Actuarial
gains
/ (losses)||||||1,187|8,347|
|Contribution
by employer||||||1,892|1,552|
|Contribution
by scheme paiticipants||||||688|569|
|Benefits paid||||||(1,231)|(1,279)|
|At end ofyear||||||54,311|50,898|
##
##
##
##
##
##
##
##
##
|||||Year ended|Year ended|
|---|---|---|---|---|---|
|||||31July 2022|31July 2021|
|Purchases|fiom|Yorkshire|Universities|10,610|7,610|
|as summari|sed
|below:||||
|---|---|---|---|---|---|
|||||Year ended|Year ended|
|||||31July 2022|31July 2021|
|Purchases|fiom|Leeds|Learning|7,500|500|
|Alliance||||||
|summarised|belo|w:|||
|---|---|---|---|---|
||||Year ended|Year ended|
||||31July 2022|31July 2021|
|Subvention|paid|to LTSU|192,000|192,000|
|Other payments||to LTSU|99,584|67,888|
||||291,584|259,888|
##
|Universit|y's
transactions
with the Catholic Di|ocese ofLeeds were as summarised
below;||
|---|---|---|---|
|||Year ended|Year ended|
|||31July 2022|31July 2021|
|Visiting|Lecturers|3,056|9,500|
##
##
|NATIONAL CO|LLEGE FOR TEACHING
AND L|EADERSHIP (NCTL))||
|---|---|---|---|
|||31July 2022|31July 2021|
|Funds received||1,193,000|3,676,700|
|Disbursed to students||1,234,700|3,535,900|
|Balance unspent|at 31July|41,700|140,800|
##
|ACCESS|AND PARTICIPATION|||
|---|---|---|---|
|||31July 2022|31July 2021|
|Access Investment||1,538,498|1,390,133|
|Financial|Support|550,918|1,055,436|
|Disability|Support|186,584|150,592|
|Research|and Evaluation|||
|||2,276,000|2,596,161|