2021-07-31-accounts - Lincoln College Oxford

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			Page
Report of the	Governing Body
Independent	Auditor's Report		30
Consolidated	Statement of Financial	Activities	38
Consolidated	and College Balance	Sheets	39
Consolidated	Statement ofCash Flows		40
Notes to the	Financial Statements		41

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								(8) H8
								SC
Dr Alskssi
Parakhonyak
Dr J-P Park
Dr Alexander	Prescott-	Harassment			Adviser
Couch
Prof Jordan Raff
Prof Roland (Bert)
Smith
Dr Harriet Sopsr
Mr Alex Spain		Bursar
Dr Maria		Fellow Librarian
Stamatopoulou
		Senior Dean;
Dr Paul Stavrinou		Secretary			to ths
		Governing			Body
Prof Margaret	Stevens
Dr Andreas		Deputy	Fellow for
Tslevantos		Schools Liaison
Dr loannis Vakonakis		Wsbsits		Fellow
Prof David Vaux
Prof Dominic	Vslla
		Fellow	for		Schools
Dr Qian Wang		Liaison
Dr Gabrislls Watson
		Senior	Treasurer				of
Prof Michael	Willis	Amalgamated				Clubs
		Welfare		Dean
Dr Lucy Wooding		Fellow	Archivist
Prof Henry		(Rector —Sabbatical)
Woudhuyssn

Risk		Description	Management of Risk
Reputation		Impairment of College's standing	The College has a comprehensive Governance structure with multiple
			committees reporting to the Governing Body;
			it regularly reviews its strategic planning,
			seeks to maintain the highest academic
			standards and is careful in its operational
			management. The College monitors and
			reviews its welfare, diversity and equality
			practices and policies.
Statutory regulatory risks	and	Impact of governmental, regulatory and University bodies on the College's activities. Substantially increased regulation	The College is actively involved with the Conference of Colleges to participate in policy-making. It is vigilant in corporate governance. Governing Body, advised by its committees reviews and implements policies.
			Officers are focused on regulation. External
			advisers are retained where appropriate.
Funding financial risks	and	Impact ofexternal developments on tuition funding, impact of market movements on financial	The College maintains high academic standards and a substantial endowment to protect tuition funding. Diversification of
		returns and on endowment	investments and monitoring of prudent risk
		funding ofoperational activities, impact of shared pension obligations	parameters reduce risks in financial returns. The College monitors developments in the USS pension scheme and its views are solicited by the relevant authorities.
Cyber- security	risks	Disruption of activities and loss of data due to impairment of IT capability or data breaches; ransomware attacks	Measures taken by the University and the College to improve security, including multi- factor authentication and vulnerability testing. Ongoing protection measures are being
			undertaken.
Other operational risks		Operational risks, including security and human resources, insurance, maintenance and risk	Regular review of operational plans, specialist external advice, compliance with established procedures as well as investment
		ofrecession impacting	in resources.
		conference income

			I/nrestricled	Restricted	Endowed	2021	2020
			Funds	Funds	Funds	Total	Total
		Notes	E000	F.'000	E000	F:000	E000
INCOME /IND ENDOWMENTS	FROM;
Charitable activities: Teaching, research and resldenUal Other Trading Income Donations and legacies			5,146 71 52	5,579	8,723	5,146 71 14,354	4,858 111 7,690
investments Investment income Total return aUccated to Income Other income -Coronavirus Job RetenUon Scheme Totet income		4 14	426 2,123 481 8,299	82 1,157 6,818	1,497 (3,280) 6,940	2,005 481 22057	2,438 309 15,404
EXPENDITURE ON:
Charitable activities: Teaching, research snd	residential		7,300	2,954	20	10,274	9,567
Generating funds: Fundraislng Trading expendaure Investment management Total Expenditure	costs		501 76 444 8,321	3,043	2,060 2,080	501 78 2 593	595 108 1,226 11,486
							918
Net Income/(Expenditure) before gains
Net gains/(losses) on Inveslmenls		11,12,16	604	747	14,432	15,683	(3,127)
Nst Income/(Expenditure)
Transfers between funds		19	1,488	(1,637)	161
Net movement In funds for the year				2,885	19,443	24,298	791
Fund balances brought forward		19	29,970	7,007	124,437	161,414	160,623
Funds carried forward at 31	July

			2021	2020	2021	2020
			Group	Group	College	College
		Notes	6'000	B000	B000	B000
FIXEDASSETS Tangible assets		9	40,370	36,945	40,370	36,945
Heritage assets Propeny Investments Other Investments		10 11 12	59,841 108,593	60,645 78,466	69,841 97,348	60,645 68,262
Total Fixed Assets				176,056	197,559	165,842
CURRENT ASSETS Stocks Debtors Investments Cash al bank end in	hend	15 16	149 1,824 6,070 2,961	140 1,366 7,386 10,669	149 1,900 6,070 2,879	140 2,545 7,386 9,482
Total Current Assets			11,004	19,560	10,998	19,553
LIABILITIES Creditors: Amounts	falling due within one year	17	2,058	1,717	2,055	1,715
NET CURRENT ASSETS			8,946	17,843	8,943	17,838
TOTAL ASSETS LESS	CURRENT LIABILITIES		217,750	193,899	206,502	183,680
CREDITORS: faglng due after more than one year		18	30,694	30,719	30,694	30,719
NET ASSETS BEFORE PENSION ASSET OR LIABILITY			187,056	163,180	175,808	152,961
Defined benefit pension scheme liability		238 31	(1,346)	(1,766)	(1,346)	(1,768)
TOTAL NET ASSETS			185,710	161,414	174,462	151,195
FUNDS OF THE COLLEGE
Endowment funds		19	143,880	124,437	132633	114,221
Restricted funds		19	9,892	7,007	9,892	7,007
Unrestricted funds Deslgnaled funds General funds Pension reserve		19 23	28,838 4,446 (1,346)	28,709 3,027 (1,766)	28,838 4,445 (1,346)	28,709 3,024 (1,766)
			185,710	161,414	174,462	161,195

					2021	2020
		Notes			6'000	5'000
Net cash provided by (used In) operating activities		25
Cash flows from Investing activities Dividends, interest and rents from investmsnts					2,005	2,438
Proceeds from the sale of property, plant snd equipment Purchase of property, plant and equipment Proceeds from sale of Investments Receipt from/(purchase) ofcurrent asset Investments					(4,100) 3,010 1,556	(6,684) 3,351 (597)
Purchase offixed asset investments
Net cash provided by (used In) Investing activities
Cash flows from financing activities
Repayments of borrowing
Cash inflowe from new borrowing Receipt of endowment Net cash provided by (used In) financing activities					8,723 8,723	2,948 2,948
Change in cash and cash equivalents In the reporting	period
Cash and cash equivalents at the beginning ofthe reporfing period					10,669	16,331
Cash and cash equivalents at the end of the reporting
period		26
Anlaysis ofchanges In net debt			At 1 August 2020	Cash flows	Other non- cash changes	At 31July 2021
			6'000	6'000	6'000	6'000
Cash at bank and In hand			10669	(7708)		2,961
Loans falling due after more than one year		18	(30,719)		25	(30,694)
			20,050	7,708	25	27,733

INCOME FROM CH	ARITABL	E ACTIVITIES
						2021	2020
						8'000	EWO
Teaching, Rosesrch	and Residential
Unrestrktsd funds						1,676	1,469
Tdson fees - UK	end EU students					ees	747
Tuilkm fees.Overseas students						64	30
Other fees						267	218
Other ONce for Students support						209	88
Other academic Income						2,074	2,304
Cokege resldenkel	Income
Total Teaching, Research end Reeldennsl
The above analysb	krdudes	12,824k received from Oxford Universky	from pumdy	accountable	funds under the CFF Scheme (2020:22,478k)
DONATIONS AND	LEGACIES					2021	2020
						6'000	EWO
Donations end Legacies						62	g44
Unrastdcted funds						s,eys	3,798
Resmded funds						8,723	2,948
Endowed furst a
INCOME FROM OTHER TRADING ACTIVmES						2021	2020
						E'000	&NO
						71
Subsidiary company	tredng	Income
INVESTMENT INCOME						2021	2020
						F.'000	F.'000
Unrs eluded funds						4	7
Agrlcukural rant						107	48
Commercial rent						316	468
Other pmperty Inccme							6
Equity dividends	end Axed Interest						21
Bank mtered
Reslrkte d funds Agricultural rent						8 61	7I
Ccmmerdal rant						8	s
Other property income						18	22
Equky dMdsnds	and Sxed mteresl
Endowed funds						188	182
Agrlcukurel rent						1,136	1,301
Commsrdal rent						138	144
Otter properly income							187
Equity dlvklends	and Sxsd Interest

ANALYSIS OF EXPENDITURE	ANALYSIS OF EXPENDITURE		2021	2020
			r.'000	2'Uetl
Charitable expendnure
Olrsct staff costs elmcaled	to:		4,305	3,905
Teaching, research and	restd enUal
Other direct costs aUocsled		to:	3,01S	3,605
Teaching, research end	resldengaf
Support and governance coals agoceted lo: Teaching, research end resklsngsl			1,904	2,147
Total charuabla expenditure
Expenditure on raising funds
Direct steff coats stecaled	lo.		303	397
Fundralslng			38	00
Trading expendgum
investment management		costs
Other direct costs elkmalsd		to:	84	149
Fundralsbtg			40	42
Trading expendUure Investmenl Inanagemenl		costs	2,220	047
Support and governance costs atocated to:			34
Fuftdndslng
Trading expenditure			365	379
Investment management		costa	~3170	1,020
Telal expenditure on raising		funds
Total expendaure

ANALYSIS O	FSDFF	ORTANDGOVERNANCECOSTS
				Teacwng
			Generating	end	2021
			Funds	Research	Tobd
			EWO	E'000	E'000
			18	461	469
Financial edmlnlstrsUon				218	218
Damsels admlnhtralkm				63	83
Human resources			16	136	161
IT				676	676
DepredaUon
Losel(prolh)	on fixed	assets		381	723
Sank snd han lrxerest payable				13	13
Other gnence	chwges			27	31
Governance	costs
				Teaching
			Grinwaeng Firnds	snd Reseemh	2020 Total
			2'000	6000	COOO
				603	622
Flnendal sdmlnhtraUon				196	198
Oomesgc sdmhtst		Uon		7g	79
Human resowces			29	263	2g2
IT				883	883
Depredation
Lies/(progt)	on fhed	assets	378	377	766
Sank Interest peyetge				38	38
Other finance chsrgrw				28	28
Governance	costs

year ended 31July		2021
																2021
GRANTS AND AWARDS																F.'000
During Ihe year the Craege burserlss to students from		funded research awards ls reslrhted end						end
unrestricted fund es folknvs:
Unrestricted funds
Grants to Indivklueh:																	40	96
Scholarships, prizes and grants																	71	80
Sursedes end hardship		awards
Total unrestricted
Restricted funds
Grants to individuals: Scholarships, prtces end grants																1,483 304		I,cef 121
Bwsarfes snd hardship		awards
Total rsstrlcled
Total grants and awards
Ths figure nduded shove		represents			the	cost lo Ihe College			of	the Oxford	Surswy scheme. The College contdbuted		771k(2020:F8Dk) lo this			scheme.
The above costs are induded wlMn				Ihe chsrhebw			expendlure			on Teaching	end Research.
STAFF COST6																2021		2020
The egg re Sale ateifcosts		for the year			were as folowe.											NDDD		21m	0
																42m3		4,691
Salaries end wages Social security costs																Sga		398
Pennon costs: Deansd benefh schemes - corelbuUons Deaned benefit schemee -movement						paid in Ihe year (note 23) In movlsion (note 23)										778 (420) 111		776 (916) 147
Other bensfils
The average number of	employees			ofthe		Cogege,	exdudng		Trustees,							2021
on e full Ume equivalent	basis was		rw		fclows.
																	22	21
Tuwon wd research																	47	69
College resldenUal																	4		a
Fundrelsng																	28	12
Support
Total
The average number of	employed		CC4ege Trustees					during the		year wes ee felknvs.
																	14	12
Unlvrsfty Lecturers																	11		9
CUF Lerfwers																	4		4
Other teaching end research																	a		4
Other
Total
The folovrng information		relates to		the empnyees				ofIhe College excluding			Ihe College Trustees. Deluge ofthe	remunereUon		and reimbursed		expenses ofthe Cclege		Trustees
Is Included ess separate		note Inthese ttnancul statements.
The number of employee		e (excluding			the	Col age	Trustees)		whose gross pay end benefils (exdu ding employer			Nl	end pension		conlrlbuUons)	exceeded	6600tn were

TANGIBLE FIXED ASSETS
Group and CoNege	Leasehold Iertd ted buiuings 7ODD	Free hokl land end buidlngs ENDO	Fixtures, NIUngs end equpm ant EOOD	Total 6'ODD
Cost At alert ofyear Addaons	4,512	39,743 4,100		45,350 4,100
Dlsposels
At end ofyeer	4612	43843		49450
Depreciation snd impairment At start ofyear Depreclaam charge Ok ttw year	647 92	6,878 554		8,406 675
Depredation on disposal ~
At end ofyear	739	7,432		0080
Net book value At end ofpesT	3,873	38,411		40,370
At start ofyear	3,965	32,865	116	36,946

All investments are hald et fair value	2021	2020
	EOIN	ETIOO
Cogsge Inveslmenls Valuation at start otyear Nsw money Invested Arrrounis wllhdrawrl	88+50 18,817 (1,418) 42	68,297 1,116 (2,698) 144
Renvested ncome Investment management fees (Dscreaseyincresse In value ef Investmenls	(1,200) 14,865	(485) 1,776
External Investments al end ofyear	I}7,348
Invastrrrmrt kl subsidiaries
College fnvealmanls al snd ofyear
Group Investmente ValusUon at start ofyear New money Invested Arrtnurlls whhdrawn	78,488 18,817 (1,418)	78,422 1,116 (2,612) 214
Reinvented income Investment management fees (Decrease)4ncrease In value of Investmenls	(1,241) 15,916	(612) 1,838
Group Investments at end ofyear
Group Investments comprise:	2021 Total	2020 Total
	6'000	ETNO
Equity mvestments CredU and Government Bonds Alternative end dher invastmsnls Fixed lerm deposits end cash	87,988 26,93'I 8,018 U,eUe	60,829 18,851 5,324 3,462
Total group Investments

16	DEBTORS			2021	2D20	2D21	202D
				GIOUp	Group	College	College
				E'000	EOIM	LODD	EDOO
	Amounts faglng due wuhln ons year.			610	310	477	310
	Trade debtors				23		23
	Ammmts owed by Cdmge membem					117	1,112
	AIAOUAts owed by Gfoup urrdonaklAgs
	Loans repayade wkhln	one	year	221			276
	Prepaymenls and accrued		income
	Amounts faglng due	after mora than one year.'				1,085	024
	LUSAs
10	CURRENTASSET INVESTMENTS
					Other	2021	2020
	Sraup and College				short tsnll	Total	Total
					EDDD	f.'000	E'MO
	ValuaNon al start of ymu'				7,300	7,300	6,409 2,697
	Add done Dispossls				(1,650)	(1,560)	(2,000)
	Net movement on deposgs					240
	Revaluation gainer(lossm)		in the year
					I37ITO	00
	ValuaUon at end ofyear
17	CREDITORS: fsgfng	due	within one year	2021	2020	2021	2020
				GIUUp f.'000	Group fDM	College f.'000	Comge ETC0
				499		~09
	Trade creditors			70		70
	Taxagon and sodal secursy Accruals and deferred Income			1,019 401	094 637	1,019 458	892 637
	Other credsds
10	OREDITDRR felUng	due after more than one year		2021	2020	2021
				Group f.'000	Group f.'000	College 6'000
	BsAk loans Notes			S,DOO 20,694 100	6,000 25,619 100	6,000 20,694 100	5,000 26,819 100
	Other crsdgors
						ee

Actumlal Valuations	Actumlal Valuations	Actumlal Valuations	Actumlal Valuations	Actumlal Valuations
Quemed actuaries perkdfce Ikj value Ihe USS end OS pS schemes uemg ths 'pro)sued unit method', embracing e mmket value approach. take account ofactuarial surpluses or delwhs in each scheme. The finan«sl assumptions were derived from market cond hlons preveitng the tete st actuarle Ivane gone end the as sun pitons which have the mast slgnNc ant effect on the resuks wars					The recutgng leven of conbibu sl Ihe valuaUon date. The res	gun uhs of
Dslsofv8katl«r; Dalevauae resskt Psmshsa Yaws ofgstagw lrakvr of888«8' Rmkng mrpus I(dstkhk Prfadfal~:				31$3I2613 lf4M2ND ref2m Ea7tn (f3aa) CPI ~ 073!tlo	3103IMIII INWI2020 BN!m Naiu (5113m) Shy+05%.26%
O It				CPI8262%s	b
Rsl~sthereat 8h satsis!				DPI 8	Average RPICPl d
Rale olhmtsw fn Pwutons as~an re acean I alags 65 tm«~ «888 Females auenly egad 65				24.eye MIyu	21.7p8 M.4ps
xru tfmu«
Femaku con«ay aged 45				27.70ps	268ps
					37'5
					74%
~ed uaphys is «autuIsn 78I~(ss '5 olpsndonum	saisdtsk	2115Incrsaing lo214% on DIIIN2021
					31azgezf
a. The discount rale (forward rates) for the USS vsmslon was:
Years 1-10 DPI + 0.14%reducing	Ih early lo DPI	- 0.73%
Years 11-20 C PI +2.52% redudng	Une arly to C Pl	+1.65%	by ye 8r21
Years 21 + CPI +1.55'5
b. The discount rale forth@ OSPS vektekon was:
Prs-retimment Equal to Ihe UK nominal gN cunre et Ihe valueuon				date plus 2.6'6 p.e.ul sech term.
Prs-ragrament Equal lo Ihe UK nominal gkt curve al		Ihe valuaUon		data plus 0.6% p.e. el each term.
Pensions increases (CPI) lor Ihe USS valuaUon	wes:
Term dependent rates h Une whh the difference between		the F«ed	Interest end Index Lhked yield cuvas, less 1.3%p.a.

expanses and defined conlribugons,	expanses and defined conlribugons,
SenslUvity of actuarial valuegon Surpluses ordeltdls whkh arhe et	assumptions future vetuaeone	may impact on	the Cfdegs'e future conlrlbugon	ccmmgment.	Tha sensgivtUes	regarding		the principal assumpUons			used to
measure the scheme gebatles ere set out below:
Assumption			USSChange In assumpaon				Impact on USS Sahglues
			tmmee Iredvrs by0.15				deowes Iheesse by		m 2bn
			reduce by 185				decwse 8Iincasee by		184tn
			hueaBB Irules Irf 01%				huss IeIdsuaus by		10Ibn
		sam	pw4snl~(aleltee/ eral Blhei BBlrrdcrr, rated		dern
			by 8mlher yew(
Assumption			ogps change In assumption			Impact on		OSPS technknl		provision»
Vllsstxa rais rf htefsxl			dsosBw byOSS					Irmwue by 145m
			husass by 82PU					hermes by 140m
Denolt RecovBry Piaffe In Ime wlh FRS 102paragraph 20,11A, Ihe CoUege		hes reconglsed	8 Uabaty for Ihe conuibutlons	paysbm for Ihe	agreed deeck furxgng		plan.	The prhdpm	assumptions		used In
lhasa cslculaUons sre tabled bemw.
Deficit Recovery Plans
			OSPS					USS
Fhhh Dale lorIhkl Uscmwy Rsn Avwaae staff rerretel Isuwtut			3006K28 2.4-4 45 210'5					3 l03I2128 24-4.4'5 2dlh
Avmgs dell eatery tween e vsrsge tlwovrtt raxr over faded Udsd of05%change h dhtosel rale Shet ol I'5 hstsl			IANI Elxw f2aa					1.155 15ae II2 dm

26	RECONCILIATIOH OF NET INCOME TO					2021	2020
	NET CASH FLOW FROM OPERATIONS					croup	Group
						r.'000	5'000
						24,2N	791
	Nsttnoomel(expendaure)
	EltminaUon of non-operating cash 0ows: Invrmtment Income (Gains)trusses In Investments Endowment dona gone					(2,005) (16,683) (0,723) 076	(2,430) 3,127 (2,940) 663
	DsprsdaUon
	(Surplus)floss an eels of Uxed assets Decreeeef(increase) In stock Decrease/(Incmsse) In debtors (Decrease)flncrease h creddors (Decrease)f Increase In pension scheme tlabsty					(9) (4591 310 (420)	(12) 177 (465) (070)
	Net cash provtded by (used In) operattng		scUvttlee
20	ANALYSIS OF CASH AND CASH EGUNALENTS					2021	2020
						r.'000
	Cash et bank and In hend					2,001	10,009
	Total sash and cash equivalents
27	FINANCIAL COMMITMENTS
	At 31July the Cosege had commamenls	mdsr noncancegabls		oparagng	leases es fotows'	2021 Entgg
	Lend and bugdlngs
	ex plrtng wgmn aneyear						611
	expldng between one end Uvs years
28	CAPITAL COMMITMENTS
	The CoUege had contracted commltmenle		al 31 July for tang iue Uxed asset protects totatUng 2am (2020-238m).

The kans outstanding	2021	2020
	2'000	2'000
	108	108
Dr Radu Coklaa	108	108
Dr Real Oulens	132
Dr R Mkheel	117	117
Dr D Omlor	120	120
Or A Parekhonyak	132
Dr A Prescott-Couch	110	110
Dr M Stemelopolou	132	132
Ortuaa ws	117	117
Prof M WNis

Intarsal m charged on	Ihe above loans.	on Ihe departure	trustee fram the Colkrge.
fn eddaon the frdkrrdng	trustees had interest free cepgal expenditure	loans outstanding	from the Cofege at the start
end/or end ofthe year.				2021	2020
				2'000	EOOD
					0.6
Or R Doyens				0.2	0.7
Dr Migrby				0,3	1.2
Dr M Moore					0.1
Dr F Morsbfto				0.3	1.4
Dr H Soper					06
Dr M Stamstopolou				1.7	1.7
Dr G Watson				0JI	1.2
Prof M WNs				0.3
Dr LWooding

33	ADDITIONAL PRIOR YEAR CQMPARATIVES	ADDITIONAL PRIOR YEAR CQMPARATIVES	ADDITIONAL PRIOR YEAR CQMPARATIVES
33a	Conaogdeted Statement ofFinancial Activities for the year ended 31July			2020
					unrestricted	Realrhled	Endmved	2020
					FINdS	Funds	Funds	Total
			Notes		6'000	Eg00	Egto	8'dhl
	INCOME AND ENDOWMENTS	FROM:
	Charitable amlvl des: Teaching, research and resklen0al Other Trading Income Oonatlone and legames				4,856 111 944	3,798	2,946	4,866 111 7,690
	Investments Investment Income Total return elhcatsd lo Income Other Income Total Income		4 33c		539 2,827 309 9,588	I,136 5,019	1,814 (3,963) 799	2,438 15,404
	EXPENDITURE ONI
	Charitable actlvnles: Teechmg, research end reaidenesl				7,283	2,246	29	9,657
	Generating funds: Fundralelng Tmdlng expend3nn Investment management coals Total Expenditure				695 108 433 SAtg		764 793	695 108 ~fs 1l,mle
	Net Inconlel(Expsndttun) bsfora gelns				1 167	2746		3,918
	Nel gsirulgoaaes) on inveatmerea		11,12,18	„	(1,393)	14	(1,743)	(3,127)
	Net tncomel(Expendnure)					2,7	1,73	78
	Transfers between funds		33d		2,864	(1,864)	(1,000)
	Nat movement In funds for the year Fund belanom brought forward				2,833 27,337	895 6,112	(2,737) 127,174	791 160,823
	Funds carried forward st 31	July
33b	The resuns and their assets	end nabgaias	ofthe parent and subsidiaries	for	the year ended 31July2020 wers ss fogows,
					Parent College	Llncoh Coyege Trading Ltd	Llncoh Co3ege	Uncoh 2027 Tlual	Uncoh Mhhael	Colege Zgkhe
							Eleelpdsss			Fmxl
							E000			Egtm
	Incmns Fxpennhre hlvesemrnl gshlsnosaes Donetbn to College under gift	akl			10,875 (9,304) (3,189) 79	111 (108) (9)	3,791 (3,721) (70)	70 (27)		(40) (27)
	Result fcl nw totlr
	Total eaaets Totellebtnlee				186,395 (34+00)	58 (64)	1.288 (1,267)			\,707
	Nsl funds et Ihe end ofyear

ststmnent ofInvestment Total	Return for the year snded 31July 2020	Return for the year snded 31July 2020
				PonlmAOAI	EIKklwlrlant		EXpaAdabls	Total
					UABPP8ed		Endowment	Endowments
		Total return	Trust for		Total
		rmt BppDsd 2000	Investment 2'000		Return futo	Total 2'000	CODD
At the bsglnnlng ofthe year.' Gift component ofIhe permanent Unsppaed Intel return Funds nol sot[act to total return	endowment 179		38,877		80,169	38,877 60,159 179		38,877 60,169 iye
Expandable endowment Total Endowments		179	38,877		6D,159	9II,215	27,959	127,1 4
Movements In the ra porting psrlod: Gst of endowment funds Inveslmenirelum: lotelimastment Income			1,148		1,458	1,148 1,456	1,800	2,948 1,814
Inveslm ant return raayssd and unreellsed gains and losses Less: investment menegemsnt costs		(64)			(1,484) [st8)	(1,538) (816)	(206) (149)	(1,743) (764)
Other Irensfers Total			1,148		(643)
Unepp0ed total return elccatsd lo Income M Ihe repcning perkd					(3,3D3)	(3,303)	(680)	(3,983)
Expandable mldowclsAta Irsmfsuod		la IBcoms			(3,303)	(3,303)	(Mg)	(3,992)
Ret movements In reponlng parlod		(54)	1,148		[3,946)	(2,852)	115	(2,737)
At snd ofthe raporgng period: Gilt component ofthe permanent Un spplfad lolal return FBIKIBriot anti)acl lo total laban	endowment 126		40,025		56,213	40,026 50,213 125	28074	49,925 M,213 126 28 D74
Expandable endowment
Total Endowments

Analysis ot Movement on Funds for the year ended 31July 2020 At	I August 2010 FUOO	Income COOO		Transfers 6'000	Gainer Posses) ECOO	At 31July 2020 6'000
Endowment Funds - Permanent Germrel Endowment Mccrgrrrwry Estele Rrrfgald Rasawch Tmst Fund Ps@Shulfrey Bequest other Fegowshlpa Potonsky (Hansard) Student Support OB ers	68,009 060 1,777 9,716 10,779 178 10,430 S09	026 12 2e 143 1,370 224 4	(349) pg (11) (60) (123) (65) R)	(2,107) (27) (60) (376) (464) (01) (130)	(042) RI2) (27) (146) (207) (54) (150) (3)	53,650 030 1,S07 9,270 20,275 126 10,358 230
Endowment Funds -Expendable General Endowment asqueste end legsdss	7,400 10,434	108 1,054	(40) (m)	(287) (1,373)	(111) (158)	7,004 10,704
Total Endowment Funda - College	117049	4, 8
Endowment funda held by seh sfdlarl as Uncob 2027 Trust uncoln College Mbhael Zlahs Fund	0,377 1,740	70 20	(27) (40)		(27)	0,600 1,707
Total Endowment Funds - Group	127,174	4,76	793
Reslrlcted Funds Income -endowment funds Scholwsmp end grants Barrow Foundsdwr Blrhgng EPA Alfred Street Other rssldcled funds	6,703	10 743 4 1,013 1,205	(1,155) (743) (2) (374)	1,136 (1,013) 40	(4) 10	et e,est
Total Restricted Funds -Cogegs and Group	612	3 3	2,274	720
Unrestricted Funda General Fixed asset designated Other designated Penston reswvs Total Unrestrbted Funds. College snd Group	6,876 22,932 1,164 (2,644)	6,650 115 6,765	(8,627) (663) (107) 876 8419	407 5,202 2 5,691	(1,302l (10) ~1,398	3,024 27,651 1,160 (1,760) 29 987
Umeshbtsd funds hekl by «Osidlsrlas		(5)
Total Unrestricted Funds - Group Total Funds -Group	180,623	67 I6,404	8,418 (11,400	B,est	1,398 ~3,12	970 101,414