2022-07-31-accounts - Corpus Christi College Oxford

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	TABL	E OF	CONTE	NTS
TABLE OF CONTENTS
MEMBERS OFTHE GOVERNING BODY
COLLEGE COMMITTEE STRUCTURE
EXTERNAL COMMITTEE MEMBERS
COLLEGE SENIOR STAFF
COLLEGE ADVISERS
ANNUAL REPORT FOR THE YEAR ENDED 31JULY2022					7
REFERENCE AND ADMINISTRATIVE		INFORMATION			7
College address					7
STRUCTURE, GOVERNANCE	AND MANAGEMENT				7
Governing documents					7
Governing Body					7
Recruitment and training	ofMembers ofthe		Governing	Body	8
Remuneration ofMembers	ofthe Governing		Body		8
Organizational management					8
Governance					9
Group structure and relationships					10
OBJECTIVESAND ACTIVITIES					11
Charitable Objects and Aims					11
Activities and Objectives ofthe College					11
Public benefit					12
ANNUAL REVIEW OFACHIEVEMENTS		AND PERFORMANCE			13
President's Perspective					13
Academic Performance					13
Outreach and Admissions					15
Domestic Bursar's Report					17
Development					18
Risk Management					18
FINANCIAL REVIEW					20
Endowment Performance	Context				20
Investment Performance Review 2021/2022					20
Portfolio Initiatives					22
Environmental, Social and	Governance (ESG)				23
Outlook					23
STATEMENT OFACCOUNTING	AND REPORTING RESPONSIBILITIES
REPORT OFTHE AUDITORS					26
STATEMENT OFACCOUNTING	POLICIES				30
FINANCIAL STATEMENTS FORTHE YEAR ENDED 31JULY2022

oftheir original app	ointm	ent is no	ted.
Prof Colin Akerman			2008
Prof David Armstron			2017
Prof Alastair Buchan			2009
Prof Giovanni Ca occia			2003
Dr Paul Dellar			2007
Prof James Du			2016
Prof Marion Durand			2019
Prof Matthew D son			2016
Prof Jas' Elsner			1999
Prof Liz Fisher			1999
Prof Andrew Fowler			1985 Retired 30~ September	2022
Prof Nicole Grobert			2012
Prof Constanze G0thenke			2014
Prof Stephen Harrison			1987
Prof Peter Hore			1983
Prof Marek Jankowiak			2018
Prof Michael Johnston			2002
Prof Hans Kraus			1996
Prof Rebekah Lee			2022 A pointed 26'" Janua	2022
Ms LizL le			2021
Revd Canon Dr Judith	Maltb		1993
Prof Michael Martin			2018
Dr Neil McL nn			2007
Prof Jeff McMahan			2014
Mr Nicholas Melhuish			2018
Prof Helen Moore			1996
Prof Robin Mu h			2009
Prof Peter Nellist			2006
Prof Judith Olszo -Schlan		er	2018
Dr Esther Osorio Whewell			2021
Prof Pier Palamara			2017
Prof Katherine Paugh			2017
Prof Giuseppe Pezzini			2021
Prof Tobias Reinhardt			2008
Mr Andrew Rolfe			2014
Prof David Russell			2015
Prof Mark Sansom			2011 Retired 30~September	2022
Prof Kathryn Stevens			2020
Prof Pawel Swietach			2010
Prof John Watts			1997
Dr Mark Wormald			2000
Prof Mark Wrathall			2017

Investment	Investment	Mana	Oxford University	Oxford University	Oxford University	Endowment
			(OUEM)
			King Charles		House
			Park End Street
			Oxford
			OX1 1JD
Pro e	Mana	er	Bidwells
			Seacourt Tower
			West Way
			Oxford
			OX2 OJJ
Auditor			Critchleys Audit LLP
			Beaver House
			23-38 Hythe	Bridge Street
			Oxford
			OX1 2EP
Bankers			Royal Bank	ofScotland
			Drummond	House		(EW) Branch
			Drummond	House
			1 Redheughs		Avenue
			Edinburgh
			EH12 9JN
Le al Advisers			Farrer &Co
			66 Lincoln's	Inn Fields
			London
			WC2A 3LH

Asset Allocation	Asset Allocation
Asset Class		Target	Exposure	Max Range	Min Range
m aoIszo2i'
Equities		5po/o	64o/o	55o/o	45'/o
Public		40'/o	34'/o	50'/o	20o/o
Private		20o/o	30'/o	30o/o	po/o
Absolute	Return 8 Credit	15'/o	20'Yo	25'/o	15o/o
Property		35'/o	35o/o	40'/o	30'/o
Cash (net	ofborrowings)	-15'/o	-19/0	0'/o	-10'/o
Total		1PP'/o	100'/o	n/a	n/a

					Unrestricted	Restricted	Endowed	2022	2021
					Funds	Funds	Funds	Total	Total
				Notes	r.'000	F'000	f'000	f'000	f'000
INCOME AND ENDOWMENTS		FROM:
Charitable activities:
Teaching, research	and	residential			4,210			4,210	3,411
Donations and legacies					260	892	302	1,454	1,127
Investments
Investment income				3	1		2,291	2,292	1,745
Total return allocated to income				13	4,566	674	(5,239)
Other income				4					285
Total income					9,036	1,566	(2,647)	7,955	6,568
EXPENDITURE ON:
Charitable activities:
Teaching, research	and residential				10,230	776	496	11,502	7,857
Generating funds:
Fundraising					473			473	218
Trading expenditure
Investment management		costs					1,504	1,506	1,335
Total Expenditure Net Income/(Expenditure) before gains Net gains/(losses) on investments				10,704 11,12~1,668		7?6 266	2,001 ~4.848 12,110	13,481 ~5.526I 12,110	9,410 ~2,842 32,587
Net Income/(Expenditure)					(1,668)	790	7,463	6,584	29,745
Transfers between funds				17	2,840	(2,839)	(1)
Other recognised gains/losses
Gains/(losses) on revaluation		offixed assets			1,975			1,975
Actuarial gains/(losses)	on defined		benefit pension schemes
Net movement in funds forthe year					3,147	(2,049)	7,461	8,559	29,745
Fund balances brought fonNard				17	19,500	6,857	194,938	221,294	191,539
Funds carried forward at	31July				22,647	4,808	202,399	229,853	221,284

					2022	2021
				Notes	E'000	E'000
FIXEDASSETS
Tangible assets				9	22,450	17,177
Heritage assets				10
Property investments				11	67,132	60,888
Other Investments				12	181,305	174,956
Total Fixed Assets					270,887	253,021
CURRENT ASSETS
Stocks					203	204
Debtors				14	403	318
Investments
Cash at bank and	in hand				24,517	1,655
Total Current Assets					25,124	2,177
LIABILITIES
Creditors: Amounts	falling due		within one year	15	2,021	1,695
NET CURRENT ASSETS/(LIABILITIES)					23,103	481
TOTAL ASSETSLESSCURRENT			LIABILITIES		293,990	253,502
CREDITORS: falling	due	after more than one year			61,000	31,000
Provisions for liabilities		and charges
NET ASSETS/(LIABILITIES) BEFORE PENSION ASSETOR LIABILITY					232,990	222,502
Defined benefit pension		scheme	liability	21	3,137	1,155
TOTAL NET ASSETS/(LIABILITIES)					229,853	221,347
FUNDS OF THE COLLEGE
Endowment funds				17	202,399	194,938
Restricted funds				17	4,808	6,846
Unrestricted funds
Designated funds				17	23,708	19,435
General funds				17	2,076	1,283
Pension reserve				21	(3,137)	(1,155)
					229,853	221,347

					2022	2021
				Notes	R'000	f'000
Net cash provided by (used in) operating	activities			24	24,497	(3,159)
Cash flows from investing activities
Dividends, interest and rents from investments					2,292	1,745
Purchase ofproperty, plant and equipment					(7,639)	(2,052)
Proceeds from sale of investments					24,969	20,764
Purchase of investments					(25,452)	(22,447)
Net cash provided by (used in) investing	activities				(5,830)	(1,990)
Cash flows from financing activities
Receipt ofendowment					302	441
Net cash provided by (used in) financing	activities				302	441
Change in cash and cash equivalents in	the	reporting	period		18,968	(4,708)
Cash and cash equivalents at the beginning		ofthe
reporting period					1,655	5,773
Change in cash and cash equivalents due to		exchange
rate movements
Cash and cash equivalents at the end of	the	reporting
period				25	24,517	1,655

		2022	2021
Teaching, Research snd Residential		E'000	F'000
Unrestricted funds
Tuition fees - UK and EU students		1,080	1,788
Tuition fees - Overseas students		753
Other fees		41	15
Other HEFCE support		172	129
Other academic income		59	84
College residential income		2,104	1,395
Total Teaching, Research and	Residential	4,210	3,411
Total income from charitable	activities	4,210	3,411

DONATION	S AND LEGACIES
		2022	2021
		E'000	E'000
Donations	and Legacies
Unrestricted	funds	260	301
Restricted	funds	892	385
Endowed funds		302	441
		1,454	1,127
INVESTMENT INCOME
		2022	2021
		E'000	E'000

Endowed funds
Agricultural rent				641	563
Commercial rent				1,145	829
Other property income				369	349
Equity dividends				5	4
Income from fixed		interest stocks
Interest on fixed	term deposits		and cash	7
Other investment		income		124
Bank interest
Other interest
				2,291	1,745
Total Investment	income			2,292	1,745
OTHER INCOME
				2022	2021
				E.'000	E'000
HMRC CJRS income					285

ANALYSIS OF EXPENDITURE	ANALYSIS OF EXPENDITURE
		2022	2021
		K'000	E'000
Charitable expenditure
Direct staff costs allocated to:
Teaching, research and	residential	4,507	4,224
Other direct costs allocated	to:
Teaching, research and residential		3,764	2,835
Support and governance costs allocated to:
Teaching, research and residential		3,231	798
Total charitable expenditure		11,502	7,857
Expenditure on raising funds
Direct staff costs allocated to:
Fundraising		282	170
Trading expenditure
Investment management	costs
Other direct costs allocated	to:
Fundraising		79	61
Trading expenditure
Investment management	costs	396	536
Private placement fees and interest		1,108	798
Support and governance costs allocated to;
Fundraising		112	(13)
Trading expenditure
Investment management	costs		1
Total expenditure on raising	funds	1,979	1,553
Total expenditure		13,481	9,410

The teac	hing and research costs	indud	e College Contribution payable of6144k (2021 - 6131k)	.
				2022	2021
				Total	Total
Included	within the resources expended		above are:	K'000	6'000
Stock recognised as an expense		in the	year		(4)

			Teaching
		Generating	slid	2022
		Funds	Research	Total
		E'000	E'000	E'000
Financial administration			552	563
Domestic administration			34	34
Human resources			30	30
IT			239	239
Depreciation			393	393
Bank interest	payable		20	20
Other finance charges		99	1,884	1,983
Governance	costs	4	79	83
		114	3231	3,345
			Teaching
		Generating	and	2021
		Funds	Research	Total
		E'000	E'000	E'000
Financial administration		10	483	493
Domestic administration			32	32
Human resources			17	17
IT			254	254
Depreciation			427	427
Loss/(profit)	on fixed assets
Other tinance	charges	(24)	(470)	(494)
Governance	costs	2	55	57

GRANTS AND AWARDS	GRANTS AND AWARDS				2022	2021
					E'000	E'000
During the year the	College funded		research awards and
bursaries to students	from	its restricted		and
unrestricted fund as	follows:
Unrestricted funds
Grants to individuals:
Scholarships, prizes and grants					201	189
Bursaries and hardship		awards			108	189
Total unrestricted					309	378
Total grants and	awards				309	378

STAFFCOSTS
							2022	2021
The aggregate staff	costs for the year were as follows.						8'000	8000
Salaries and wages							4,405	3,613
Social security costs							382	329
Pension costs:
Defined benefit schemes - contributions				in year			679	1,078
Defined benefit schemes - movement				in provision			1,982	(494)
							7,448	4,526
The average number	of	employees	ofthe	College, exduding		Trustees,
on a full time equivalent		basis was	as follows.				2022	2021
Tuition and research							5	4
College residential							56	57
Fundraising							3	1
Support							13	12
Total							77	74
The average number	of	employed	College Trustees		during the year was as follows.
University Lecturers							15	15
CUF Lecturers							8	8
Other teaching and research							3	3
Other							6	6
Total								32

Year ended 31July 2022					Permanent	Endowment		Expendable	Total
					Unapplied			Endowment	Endowments
					Trust for	Total
					Investment	Return	Total
					6'000	F'000	6'000	F'000	8'000
Atthe beginning ofthe year:
GiR component ofthe permanent endowment					54,208		54,208		54,208
Unapplied total return						118,747	118,747		118,747
Expendable endowment								21,982	21,982
Total Endowments					54,208	118,747	172,9S5	21,982	194,938
Movements in the reporting	period:
Gift ofendowment funds					4		4	298	302
Investment return: dividends	and interest					2,291	2,291		2,291
Investment return: realised and		unrealised	gains and losses			11,445	11,445	664	12,109
Less: Investment management Other transfers Total		costs			4	(1,505) (496) 11,734	(1,505) (496) 11,738	962	(1,507) ~(496 12,696
Unapplied total return allocated to income in the reporting Expendable endowments transferred to income				period		(4,609)	(4,609)	~63D	(4,609) ~63D
						(4,609)	(4,609)	(630)	(5,239)
Net movements in reporting	period					7,125	7,129	332	7,459
At end ofthe reporting period:
Gift component ofthe permanent		endowment			54,212		54,212		54,212
Unapplied total return						125,874	125,874		125,874
Expendable endowment								22,313	22,313
Total Endowments					54,212	125,874	180,086	22,313	202,399

DEBTORS
	2022	2021
	E'000	F'000
Amounts falling due within one year:
Trade debtors	120	157
Amounts owed by College members	41	32
Amounts owed by Group undertakings	24
Loans repayable within one year	14	9
Prepayments and accrued income	134	48
Other debtors	64	59
Amounts falling due after more than one year:
Loans		13
	403	318
CREDITORS: falling due within one year
	2022	2021
	K'000	r'000
Trade creditors	613	673
Amounts owed to College Members
Amounts owed to Group undertakings
Taxation and social security	153	125
College contribution
Accruals and deferred income	1,112	741
Other creditors	145	156
	2,024	1,695
CREDITORS: falling due after more than one year
	2022	2021
	K'000	E'000
Bank loans	1,000	1,000
Other creditors	60,000	30,000
	61,000	31,000

ANALYSIS OF MOVEMENTS	ANALYSIS OF MOVEMENTS	ANALYSIS OF MOVEMENTS	ON FUNDS
					At 1 August	Incoming	Resources		Gainsl	At 31July
					2021	resources	expended	Transfers	(losses)	2022
					6'000	000	F'000	E'000	6'000	5'000
Endowment Funds - Permanent
General purpose funds					137,394	1,922	(1,536)	(4,139)	8,776	142,417
Fellowship funds					6,667		(1)	(105)	202	6,762
Junior Research Fellowship		funds			1,589		(1)		48	1,636
Fabric and building funds					6,257		(1)	(189)	189	6,256
Student supportfunds					4,292			(37)	129	4,388
Other teaching funds					492			(6)	15	501
Library funds					68			(2)	2	88
Other purpose funds					147		(1)	(1)	4	150
Clubs funds					299			(7)	9	300
Pate fund					15,750	369	(463)	(124)	2,074	17,607
Endowment Funds - Expendable
General purpose funds					14,208	127		(428)	429	14,336
Fellowship &JRFfunds					2,982	149		(70)	90	3,152
Student support funds					3,894	16		(106)	118	3,922
Other teaching funds					230			(6)	7	231
Library funds					633			(19)	19	633
Other purpose funds Total Endowment Funds - College					35 194,938	2,592	~2,003	(1) ~5,240	1 12,112	39 202,399
Restdcted Funds
Transfers from specific	purpose		endowments	for
spending							(674)	674
Special Collections Centre fund					6,321	602		(2,839)		4,084
Teaching and research	funds				206	0	(7)			199
Student support funds					289	222	(19)			492
Other purpose funds					30	86	(83)			33
Total Restricted Funds	- College				6,846	910	~793	(2,165)		4,808
Unrestricted Funds
General					1,220	4,470	(8,722)	3,134	1,975	2,076
Special Collections Centre fund					2,258					2,258
Designated property project funds
Fixed asset designated	fund				17,177			4,273		21,450
Revaluation reserve
Pension reserve					(1,155)		(1,982)			(3,137)
Total Unrestricted Funds - College					19,500	4470	~42704,	7,406	1,975	22,647
TotalFunds					221,284	7,973	(13,490)		14,087	229,853

The following is a summary	The following is a summary	The following is a summary	The following is a summary	ofthe origins	and purposes	and purposes	and purposes	ofeach ofthe Funds	ofeach ofthe Funds
Endowment Funds	- Permanent:
General purpose funds								A consolidation	ofgifts and	donations		where income,	but not			capital, can be used for the		general
								purposes ofthe	charity.
Fellowship, Junior Research				Fellowship,	Fabric and			Capital balance	ofpast donations		where related income,			but		not the original capital, can		be used for
building, Student support,			Other teaching,		Library,		Clubs	named specific	purposes.
and Other purpose	funds
Pate fund								Capital balance	ofthe Pate	Charity, a		fund that was previously				an exempt charity, and is		now in	the
								process of being registered		with	the Charity Commission			as a constituent charity with the				College. 75%
								ofthe net total return drawdown			arising from the fund is payable to Pate's Grammar School Foundation.
								The remaining 25%ofthe net total return drawdown					is available forthe				general purposes	ofthe	College
								and hence is allocated to unrestricted				funds.
Endowment Funds	- Expendable:
General purpose funds								A consolidation	ofgifts and	donations		where either income, or income and capital, can be used forthe
								general purposes ofthe charity.
Fellowship, Student	support,			Other teaching,		Library and		Capital balance	ofpast donations		where related income,			or income and			capital, can be used for		named
Other purpose funds								specific purposes,
Restricted Funds:
Special Collections	Centre		fund					Funds that must	be applied	to specific		fixed asset projects.
Teaching and research,		student support and				other		Funds where both income and capital				can be used for named				restricted	purposes.
purpose funds
Designated Funds
Special Collections Centre			fund					Unrestricted Funds allocated		by the Trustees forthe			2017		building fund.
Fixed asset designated		fund						Unrestricted Funds which are represented by the fixed assets								ofthe College and therefore not available
								for expenditure on the College's general purposes.
The General Unrestricted			Funds represent		accumulated			income from the College's activities			and	other sources	that	are		available forthe general purposes			ofthe
College
ANALYSIS OF NET	ASSETS BETWEEN				FUNDS
												Unrestricted			Restricted		Endowment		2022
												Funds				Funds	Funds		Total
												E'000				E.'000	E'000		E'000
Tangible fixed assets												21,176				(701)			20,475
Property investments																	67,132		67,132
Other investments												32,928					148,376	181,304
Net current assets												(28,321)				5,509	47,891		25,079
Long term liabilities												(3,137)					(61,000)	(64,137)
												22,647				4,808	202,399	229,853
												Unrestricted			Restricted		Endowment		2021
												Funds				Funds	Funds		Total
												E'000				E'000	E'000		E'000
Tangible fixed assets												14,959				2,218			17,177
Property investments																	60,888		60,888
Other investments												51,998					122,958	174,956
Net current assets												(46,302)				4,628	42,092		418
Long term liabilities												(1,155)					(31,000)	(32,155)
												19,500				6,846	194,938	221,284


			OSPS	USS	OSPS	USS
Finish Date for Deficit	Recovery Plan		30/01/28	31/03/38	30/01/28	31/03/28
Average Staff Number	Increase		0-3.0'/o	0-2.0'/o	0 30o/a	0-2 Oo/o
Average staff salary increase			4 ppo/o	4 Ppo/o	2 ppo/o	2.0po/a
Average discount rate	over period		3 19o/o	3 34o/a	0 74o/a	0 63a/o
Effect of0.5/o change	in discount	rate	E21k	E29k	E21k	E5k
Effectof1/a chan e in	staf rowth		E53k	E195k	E23k	E29k

The College has the following	fi	nancial instruments:
				2022	2021
				E'000	6'000
Financial assets measured	at	fair value through	profit
orloss
Investments				181,305	174,956
				181,305	174,956
Financial assets measured	at	amortised cost
Cash and cash equivalents				24,517	1,655
Debtors and accrued income				318	264
				24,836	1,919
Financial liabilities measured		at amortised cost
Accruals and deferred income				1112	741
Other creditors				60,912	30,954
				62,024	31,695

RECONCILIATION	OF NET INCOMING R	ESOURCES TO
NET CASH FLOW	FROM OPERATIONS		2022	2021
			Group	Group
			E'000	E'000
Net income/(expenditure)			6,584	29,745
Elimination of non-operating cash flows:
Investment income			(2,292)	(1,745)
(Gains)/losses in investments			(12,110)	(32,587)
Endowment donations			(302)	(441)
Depreciation			393	427
(Surplus)/loss on sale offixed assets
Decrease/(Increase)	in stock		1	(4)
Decrease/(Increase)	in debtors		(86)	559
(Decrease)/Increase	in creditors		30,326	1,381
(Decrease)/Increase	in provisions
(Decrease)/Increase	in pension scheme liability		1,982	(494)
Net cash provided	by (used in) operating	activities	24,497	(3,159)


25	ANALYSIS OF CASH AND CASH EQUIVALENTS
						2022	2021
						6'000	5'000
	Cash at bank and in hand					24,517	1,655
	Total cash and cash equivalents					24,517	1,655
26	FINANCIAL COMMITMENTS
	At 31 July the College had no significant	annual	commitments	under non-cancellable	operating leases (2021:none).
27	CAPITAL COIIMITMENTS

2022	2021
6'000	F'000
	13

31	ADDITIONAL PRIOR YEAR COMPARATIVES	ADDITIONAL PRIOR YEAR COMPARATIVES	ADDITIONAL PRIOR YEAR COMPARATIVES
a)	Consolidated Statement	ofFinancial Activities
	Year ended 31July 2021			Unrestricted	Restricted	Endowed	2021	2020
				Funds	Funds	Funds	Total	Total
				E'000	6'000	2'000	E'000	L'000
	INCOME AND ENDOWMENTS FROM:
	Charitable activities:
	Teaching, research and	residential		3,411			3,411	3,522
	Donations and legacies			301	385	441	1,127	5,648
	Investments
	Investment income					1,745	1,745	1,782
	Total return allocated to income			5,129		(5,129)
	Other income			285			285
	Total income			9,126	385	(2,943)	6,568	11,298
	EXPENDITURE ON:
	Charitable activities:
	Teaching, research and	residential		7,771			7,857	&,421
	Generating funds:
	Fundraising			218			218	341
	Investment management	costs				1,335	1,335	1,349
	Total Expenditure Net Income/(Expenditure)	before	gains	7,9&9 1137	86 288	1,335 ~4,278	9,410 ~2,842	10,111 1,187
	Net gains/(losses) on investments			212		32,375	32,587	2,098
	Net Income/(Expenditure)			1,349	299	28,097	29,745	3,285
	Transfers between funds
	Net movement in funds for the year			1,349	299	28,097	29,745	3,285
	Fund balances brought forward			18,151	6,547	166,841	191,539	188,254
	Funds carried forward at	31July		19,500	6,846	194,938	221,284	191,539
b)	Property Investments
	This note provides the comparative		figures for Note 11.				2021	2019
				Agricultural	Commercial	Other	Total	Total
				E'000	F'000	6'000	E'000	2'000
	Valuation at start ofyear			36,947	15,250	5,560	57,757
	Additions and improvements	at cost		106	2,760		2,866
	Disposals			(3,567)			(3,567)
	Revaluation gains/(losses)	in the year		3,832			3,832	2,908
	Valuation at end ofyear			37,318	18,010	5,560	60,888	57,757

This note provides the comparative	This note provides the comparative	This note provides the comparative	for Note 12.			Permanent	Endowment		Expendable	Total
						Unapplied			Endowment	Endowments
					Trust for		Total
					Investment		Return	Total
					E'000		6'000	L'000	E'000	6'000
Atthe beginning ofthe year:
GIR component ofthe permanent endowment					54,110			54,110		54,110
Unapplied total return							94,487	94,487		94,487
Expendable endowment									18,244	18,244
Total Endowments					54,110		94,487	148,597	18,244	166,$41
Movements in the reporting	period:
Gift ofendowment funds					94			94	347	441
Investment return: dividends	and interest						1,393	1,393	352	1,745
Investment return: realised and		unrealised	gains and losses				28,331	28,331	4,044	32,375
Less: Investment management		costs					(1,335)	(1,335)		(1,335)
Other transfers
Total					94		28,389	28,483	4,743	33,226
Unapplied total return allocated to income in the reporting Expendable endowments transferred to income				period			(4,476)	(4,476)	~653	(4,476) ~653
							(4,476)	(4,476)	(653)	(5,129)
Net movements in reporting	period				94		23,913	24,007	4,090	28,097
At end ofthe reporting period:
Gift component ofthe permanent		endowment			54,204			54,204		54,204
Unapplied total return							118,400	118,400		118,400
Expendable endowment									22,334	22,334
Total Endowments					54,204	118,400		172,604	22,334	194,93$

Analysis ofmovement		on	funds	funds
This note provides the	comparative				figures	for Note 17.
							At 1 August	Incoming	Resources		Gains/	At 31July
							2020	resources	expended	Transfers	(losses)	2021
							L'000	6'000	6'000	L'000	6'000	6'000
Endowment Funds - Permanent
General purpose funds							117,837	1,395	(1,165)	(3,756)	23,083	137,394
Fellowship funds							5,482	88		(166)	1,263	6,667
Junior Research Fellowship			funds				1,528			(43)	104	1,589
Fabric and building funds							5,208			(215)	1,264	6,257
Student support funds							3,617			(90)	765	4,292
Other teaching funds							410			(17)	99	492
Library funds										(2)	14	68
Other purpose funds							118				23	147
Clubs funds							247			(8)	60	299
Pate fund							14,094		(170)	(179)	1,656	15,750
Endowment Funds - Expendable
General purpose funds							11,731	1		(381)	2,859	14,210
Fellowship &JRFfunds							2,385	231		(119)	484	2,981
Student support funds							3,379	116		(122)	521	3,894
Otherteaching funds							193			(6)	46	231
Library funds							526			(22)	128	632
Other purpose funds Total Endowment Funds - College							30 166,841	2,188	~1,338	(1) ~8,129	6 32,375	35 194,938
Restricted Funds
Transfers from specific	purpose			endowments		for
spending
Special Collections Centre fund							6,128	200	(7)			6,321
Teaching and research	funds						166	81	(«)			206
Student support funds							253	73	(37)			289
Other purpose funds								31	(1)			30
Total Restricted Funds	- College						6,547	385	(66)			8,846
Unrestricted Funds
General							1,400	3,997	(8,483)	4,094	212	1,220
Library and Archive Centre fund							2,258					2,258
Designated property project funds
Fixed asset designated	fund						16,142			1,035		17,177
Pension reserve Total Unrestricted Funds		- College					(1,649) 18,151	3,997	494 ~7.989	5,129	212	(1,155) 19,500
TotalFunds							191,539	6,568	(9,410)		32,587	221,284