2022-08-31-accounts - Churcher's College

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". > CHURCHER'S COLLEGE Annual Report & Financial Statements For the year ended 31 August 2022 Reglstered company number'.10815349 Registered charity number:1173833

					Page
Report ofthe	Trustees				I to 21
Report ofthe	Independent		Auditors		22 to 23
Consolidated	Statement	of	Financial	Activities	24
Consolitlated	Balance	Sheet			25
Charity Balance Sheet
Cash Flow Statement					27
Notes to the	Cash Flow Statement				2B
Notes to the	Financial	Statements			29 to 47

The Governors ofChurcher's	The Governors ofChurcher's	The Governors ofChurcher's	The Governors ofChurcher's	College ("the College') are	College ("the College') are	College ("the College') are	the College's	the College's	the College's	trustees	under charity	law. The	menlbers
ofthe Governing		Body who		served	in ol'lice as Governors		during	the	year and	subse&tuently	are detailed	below. The list
also shows those		Governors		&vho are also directors oFthe			subsidiary		c&anpany	Churchrr's	College Enterprise		Lld (CCE
Ltd).
Name					Governor	Status				(I)	(2)	(3)	(4)
M J Gallagher	(Chairman)				Co-opted					(I)	(2)		(4)
J Bloomer (Vice Chairman)					Co-opted					(I)	(2)		(4)
S Barrett					Co-opte&l					(I)	(2)	(3)	(4)
S Beecham					Co-opted
E Bush					Co-opte&!
J Irrmlkli ~					Co-opted
T Ilenderson	(lrom	March 2022)			Co-opted
C Hnramml-Slo&vers					Co-opted
E Hynes-Lait	t (resignc&l		I2		Co-opted
November 2022)
R Ingranl (From March			2022)		Co-opted
C Jay (frnln	March	2022)			Cn-opted
VV A Jones					Co-opted							(3)
P Lmvrence					C'o-opted
M Lclgh					Co-opted
R Slay					Co-opted
D Moses					Co-opled							(3)	(4)
R Dates					Junior School Parents'		Associalion-
					Nolninnted	Governor
M Steven (front March			2022)		Senior Schonl Parents'		Associallon-
					Nominated	Governor
A Robinson	(to December 2021)				Co-opted							(3)
C Strick					Co-opted

Junior	School	(Reception —Year 2)	83,845	53,610
Junior	School	(Years 3 —G)	&1,105	83,855
Senior	School	(All Years)	85,755	f5,480

Sport	Sport
A table ofsporting results by 1"XV a'I'&		sport 36%	over the -	last 5 years: 63X		53%		&OVID		69'6
	An	61%		65%.	1	62%		covID		71%
	Played	&20 (16)	-	130		112 (11)		COVID		107
Reeks	All									36%
7x	ll
	1s&XI	50%	46'%	42%	30%	53%	33%	COVIO	COVID	42%	15%
	All	43%	37%	50%	40%	53%	41%	COVID	COVID	34%	49%
		97	121			115	179
	7	(25)	(22)			(66)	2 ( 0)	OVI	OVID	09	154
	1xV II	-	60%	-	47%		39%	-	COVID		609
	An	-	46%	-	60%	~	56%	-	COVID		53%
	Played	~	175 (59)	~	233		137 (53)		COVID		160
	1eXI	55%	—	40%	-	COVID	COVID	57%	-	36%
Cricket						COVID	COVID	33%	60%	41%	69%
						COVID	COVID	42 x	16 ~	73	60
		(16)
	1 s	-	too%		0%	COVID	COVID				100%
Raanders						COVID	COVID	-	75%		100%
	Played	-	53% (14)	-	26	COVID	COVID	-	16		I
	1*	25%	50%	25%	200%	COVID	COVID	0%	0%	80%	33%
Tennis	All	71%	50%	56%	63%	COVIO	COVID	79%	57%	61%	49%
	Played	25 (0)				COVID	COVID	20	17	35 (meed 15)	22 (mised 57%)

Grade 1	5				5	COY ID	I3
2	14	17	8	22	7	COVID	15	30	10	21
3	II	l9	tg	15	I5	COVID	24	31	l9	3I
4	12	18	19	19	6	COVID	18	19	19	37
5	39	16	44	I9	21	COV ID	26	16	25	17
6	20	12	13	13	13	COVID	12	20	15	1.2
7	19	26	I0		6	COVID	IG	10	7	8
8	20	14	23	20	7	COVID	17	8	11	14
TOTAL	140	122	146	111	80		141	134	110	140

Total Fee Incosne	I6524 052	'I6 973&456	I7&378035	I9&027+50
Bursaries	361430	571,377	429,757	642,470
%ofIncome	2.18%	3.36'/u	247%	3.38'/o
Scholarships	202,623	185,626	165848	181,037
'/o ofIncome	1.22%	1.09u/u	0,95%	0 9qo/u

I&OR TFIEYEAR EN	DEDBISf AU	GUST20zz
						2022	702 I'
		Unrcslrictcd	Ircsirictcd		En&lo&vmen!	Total	Total
		funds	funds		fuitds	fiiildS	liinds
	Notes		f		8	f.	8
INCOME AND
ENDOSVMENTS FROM
Donations an&I legacies		143,403	141,409			284,812	143,272
Inv&sunent income			46,473			46,473	34,97D
Charitnble activities
Education and grani making		19,941,819				19,941,819	18057,376
Other ineoniing resources		154,219				154,219	198,127
Tatnl		20,239,441	187,882			20,427,123	18,433,745
EXPENDITUICE ON
ka&Sliig fiiiids		17,75D				17.750	18,304
Charitable activities
Educalio&1 and grant makiiig		18,735,565	143,403			18.878,968	16,794,945
Tradinfi subsidiary espendinire		754,208				254, 7DB	170.701
Total		!9.007,523	143,403			19.150,926	16,983.950
NE1' liVCOME 1)EVORE		1.231,') I8	44.47'9			1,276,397	1,449,795
'I'RANSFERS
Transfers bet&veen funds
NET INCOME		1231,918	44,479			1276.397	1,449,795
Other recognised gains/losses
Unreslised gains/losses	on fixed				(650,400)	(650,400)	155,000
assets
Gains/losses on investmcnt				438			3,534
&&&sets
AC1&iai'lal gains/losses	oi1	(2,230)				(2,230)	(1,648)
defined benefit schemes
Net movemcnl in funds		1,729,688	44.917		(fi50,400)	624.205	I,G06,681
RECONCILIATION	OF
FUNDS
Totnl funds brought	fomvard	8,745.913	1,314	339	11.054353	21.114605	19507.924
TOTAL FUNDS CARRIL'D
FORSTA I&D		9975,601	1,359,256		10403953	21,738.810	21,114,6D&

FORT(IK YEAR EiVDF.D31	STAU	GUsT 2022
					2027	2021
		Unrestricted	Restricted	Endowment	Total	Toial
		I'unds	funds	fern dc	funds	Btnds
	Notes			f	f	f
FIXEDASSETS
Tangible assets	14	20,279,(88		10.403,953	30,683,541	28,860,242
Investments
Investments	16		12.561		12,561	12,123
Investment property	17		950,000		950,000	950,000
		20,279,588	962,561	10,4035)53	31,646,102	29,822.365
CURRENT ASSETS
Stacks	18	664			664	1,717
Debtors	19	1,024,85!			1,024,851	472,653
Cash at batik anti in hmid		487,IG4	396,G95		883,859	407,865
		1,51'2,679	396,G95		1,909,374	882,235
CREDITORS
Amounts I'ailing due within one
year	70	(5,739,04'))			(5.739,04c))	(4,26t0,719)
NET CURRENT		(4226,370)	3')6,695		(3,829,675)	(3,3 78,484)
LIABILITIES
TOTAL ASSFTS LESS
CURRKNT LIABILI'I'II.S		16,053.2!8	1.359?56	10.403 ')53	27,81&7.427	26,441.881
CREDITORS
Antnunts falling after more than
one year	21	(6,D77,6i7)			(6,077,617)	(5,329,276)
NFT ASSETS		9,975.601	1.359.256	10.403.c)53	21,738,810	21.114,605
F(INDS	26
Unrestriciml liunds					9,975,601	8,74(,913
Restricted funcfs					1,359,256	1,314,339
Enclowment I'unds					!0,403,953	11,054.3(3
TOTAI, FltNDS					21,738,81D	21,114,6D5

FOR TIIF YEAR ENDED 3I	STAtl	GtlST 2022
					7022		200'I
		Unrestricted	Restricted	Endo&ament	Total		To)61
		Ornds	flinda	funds	funds		rla'eris'
	Notes		f		f
FIRED ASSETS
Tangible assets	15	18,672,528		10,403,953	29,076,481	27,25rI,AP0
Investments
Investmenrs	16	I,G00,000	12,561		1,612,561		1,612,123
Invesunent property	17		950,'OOO		950,000		950,0DO
		20,272,528	962,561	10,401.953	31,639,042	29,813,4D3
CURRENT ASSETS
Stocks	18	664			664		1,717
Debtors	19	1,01'2,654			1,012,654		467,28G
Cash at bank and in hand		482,381	396,695		879,D76		400,7D7
		I 495,699	396,695		1,892,39-1		869.710
CIt L' DI-I'0RS
Amountsl falling due lvitbin one
year	20	(5.715,013)			(5,715,D13)	(4,276,288)
NET CURREN'I		(4,219.314)	396,695		(3 822,Cii 9)	(3 406,578)
LIABIL ITI ES
1'OTAL ASSETS LESS
CtlRRENT I.IABILITIKS		16,053,214	1,359,256	10,403,953	27,8 IGN23	2G,406,825
CRFDITORS
Airmen(s Falling a(ier more thml
one year	21	(6.077.617)			(6077617)	(5 32r) 276)
NE I' ASSr.fS		9,975,597	1.359,256	10,40),953	21,738,806	21,077,549
fIINDS
Unrestricted ltunds					').975,5')7		8,708.857
Restricted I(un&Is					I '159,25G		1,314,339
Elnlolvnlelll fluids					10403953	I	I 05-'I 3)3
IOTAl, fIINDS					21.738,806	21,077,549

CONSOI, IDA1 I'.D CASII	l&LO5V STATEIVIENT	l&LO5V STATEIVIENT	l&LO5V STATEIVIENT
FOR 1'IIE YEAR FNDED	31STA(IG(IS7'2022
					2022	2021
				Notes	f	5
Cash Rows from operating	activities:
Cash generated Irom operatiolis					3,094,776	1,884872
Cash flows from investiiig	activities:
Purchase of tangible fixed asseis Dividend 6'& interest receive&i					(Z,G53,293) 3,723	(4,429,399) ~2522
Net cash provided by (used	in) investing				(2.649,570)	(4,42G,877)
activities
Cash Bows from financing	activitiem
Bank Ioau received					500,000	2,000,000
I.oan repayments in year					~123,969)	(425,874)
Net cash provided by (used	i&i) linnnciiig				376,031	1,574.126
activities
Change in cash mul cash equivalents		in the
reporting period					821.B7	(9()7,879)
Cash and rash e&piivalents	al the beginning		of
the reportiag period					67,622	1,030,501
Cash aml cash e&luivalents	at the eml	ofthe
reporting period					883.859	62,622

				2022	2021
				f.
Net ineonte/(espemlitnre) for the reportiag			perio&l (as per the statement
of fin a ncia I activities)				),276,397	l,449,795
Adjustmeuts fur:
Gain/(losses) on &lelined benelit		scheme		(2 230)	( l,&i48)
Depreciation offixed assets				I79,593	l32,7I4
Dividends & intet'es(	received			(3,723)	(2,522)
(Increase)/decrease	in stocks			l.053	(54)
(Increase)/decrease	in debtors			(552,198)	(332,2 I0)
(Deci ense)/inci ease	in creditors			2,195,883	638,797
Net cash provided	by operating	activities		3.094,776	I,884,872

ANAI.YSI	SOF CASH AND CASII EQUIVALENTS
		2022	2021
		6	f
Cash at bank an&I in ban&i		883,859	407.865
Gverdmfts	fallin8 due ivithin one year		(345,243)
I'otal cash	anil cash cqulvalcnm	883,859	62 622

												'10 I'I	2021
												f	f
	Development donations											141,409	60,171
	Donatinns from Richard			Churcher			Foundation		Fund			143,403	83,101
												284,812	I43.272
4.	OTIIER Ii4COIVIING RESOURCES —GROliP
												2022	2021
													f
	'1'uck Shop income											998
	Lettings											73,0G5	12?07
	'Trading incolue Churcher's				College Enterprises				Limited			130,15G	57,ID5
	Grants —Govenmlent)ob				Retention		Scliemc						133,815
												154,219	198 127
S.	INYKSTSIENT INCOME —GROIIP
												2022	2021
												f.	f
	Rental Income											42.750	32.448
	Dividends &I& interest		receive&I									3.773	2.527
												46,473	34,970
	INCOiYIK FROihl	CIIARI1'ABLE ACTIVITIES								—GROliP
												2022	2021
						Activity							f
	Cin1ss school foes					Education		and	grant		making	19,027,350	17,378,035
	I='niranee an&I registmtion			fees		I ducntinn		and	grant		making	43,7G7	47,424
	I.unches and milk					Fducation		and	grant		m lking	834, 18&)	602,541
	0 thai' lnconle (esc	I	shop
	income)					Educaiinn		anti	gra~t		m:&king	36,518	2&),37G
												19941,819	18,057,376
7.	RAISING VliNDS	—GROliP
	Raisiag dcnatioliS	nml		tegar'ie&
												IQ77	2021
													f
	Raising donations	and leaacics —Richard cllurctlel								I	ounclililofl	17,750	IS,30-1

						Grant
					Direct costs	ofactivities	Suppers costs	I'otals
						(See note 9)	(See note 101
							E
	Educatinn	and grant	maki&rg		16,602,354	'2,176,229	100.385	18,$78,968
	Trading costs: CCE				250,847		1,36& I	254,208
					16,853,201	2,176,229	103,746	19,133,176
9.	GRANTS	PAYABLE —GROlfp
							7072	2021
							f	E
	Bursaries	and other	grants	an&I a&vents			'2,176229	1,926,'241
10.	SttPPOIFI' COS'I'S —GROD I'

				7077	7021
				E	E
I.egal fees				1!0,326	7.224
Auditors	rennmeration			17,820	15,550
Accounts	prepare&lett		services	5,100	7,200
I t!8 Mlvtsoty		Sct'Vrccs		500	500
				103,746	30,474

				71127	2021
				E	E
9&'ages	nnd salaries			8,970,851	8,281,750
Snciai	security	costs		985,952	851.392
Other	pm&sion	costs an&I apprenticeship	lcv)	1,939,267	1,812,003
				11.896,070	10.945, l-l&

recctved total remuner	recctved total remuner	ation a	ation a	mounting to 8	mounting to 8	mounting to 8	192,79	7excluding pension contributio	ns.
The average monthly		number		oftnnployees			during	the year tvas as follows:
									2022	7021
Teaching									141	125
Administration									33
Technicians									26	77
Cleaners									18	70
Site									13	II
Nurses										2
										217
									7022	2021
Nuntber of higher paid employees					in	bands	of:
f60,000 - f70,001 -	f7o,aao f80,00D								17 7	18
fgo,oa I - f90,001 - flooao I	foo,ooo f. 100.000 - fl IO, ODO
fIlo,o(ll f120,001	- f 120.000 - fI30,000
f130.001	- f.140.DOO
f.140,001	- f.150.000
6150,001	- f160,000
8160,001	—f170.000
f.170,001	- f180,000
8180,001	- f190,000
f19D,OO I	—f200,000
Tlte number witit retirement				bcnelits		accrums
—in Oelined I3enetit		schemes		was					2167	706
Ofwhich	the contributions		ttmounted			to			f7-17.728	f691.527

	I-reehold	Assets under	Plan( m)d
	property	constructinn	machinery
	8	2	E
COST
At 1st Seplember 202 1	26,172,628	7,650,428	522,275
Additions	341,362	1,912,385	58,197
Disposals Rccl assi lication	f650,400) 9,029,600	~9,0 ),I)0)
At 31st August2022	34,889,090	537,313	580,472
DEPRECIATION
Al 1st September '2021 Charge for year	5,285,269 )I 609		383,745 36,755
At 31st August 2022	5,316,878		420,500
NET BOOK YAL(IE
A(31st Augnsi 2022	29,572,212	537,313	159.972
At 31st August 2021	20,887,359	7,650,428	138,531
	Moto)'	CO(11pttler
	vehicles	e &I(IIpl(ie 62(	Totals
COST
At 1st Sep(embet 2021	50,955	G59,920	35.056,206
Additions Disposal s		341,349	2,651.293 ~60,400)
At 31st Augns1 202Z	50,955	1,001,269	37,059,099
DFPRECIA fiON
At 1st September 2021	43,611	483,340	G.195,965
Charge foryear	3,672	107,557	179,593
At 31st.August 2022	47,283	590,897	G,375,558
NFT BOOk VAL(lE
A13 1st August 2022	3,672	410,372	30,683,541
At 31st Augnst 2021	7, 4	170, ID	20.)760.-4

		Freehold	Assets under	Assets under	Plant an&i
		propel ly	coustfucuon		nlachiilCly
					E
Cosr
At 1stSeptember 2021		24,23G.985	7,650,428		503,269
Additions		341,36?	1,912385		58,197
Disposals		(650,4001
Reelassification		9,025,500	~902 00(li
ht3 1st Au ust	20'22	32 953447	537313		561,466
DEPRECIAllON
At 1st September 2021		4,949,626			373,700
Charge f'oryear		31,G09			34,854
ht 31st August	2022	4,981,735			408,554
NET BOOK YAI.LIE
At 31st Augnst	2022	27, 72,	537,313		15'2,912
hl 31st August	2021	IR287,359	76.0626		129 69
		Motor	Colnputer
		vehicles	C till	lpnl Cn I t	Totals 6
COST
At 1st September 2021		50,955		659,920	CLL I01,557
Additions				341.349	Z,G53,293
Disposnls					(G50,400)
Rect assi fication
ht 31st August	2022	50,955	1,001?69		35,104,450
DEP RE CI ATI0(V
At 1st September 2021		43,611		483,340	5,850,277
Churge I'or year		3,G77		107,557	177,692
A13lst August2022		47,283		590,897	6,027,969
NF.r BOOK YAL(tl'.
At 31st Au ust	2022	3,G72		410.372	29,076,481
At 31st Aurpist	2021			17G,580	'27,'251,280

FIXEDASSET INVEST(VIENTS —CROLfP
							Listecl
						Investments
							8
(VIARKET VALUE
At 1stSeptember 2021							12,123
Revaluation							438
At 31st August 2022							12,561
NET BOOK VAI,UE
At 31st August 2022						12,561
		etc.
At 3 fat August 2021							12,123
FIXEDASSET INVESTiWIENTS- CIIAILITV
	Shares	i	',
	glp)tp ccltclel tat)G)Ic(		I'1. ''	.. Il.lated fnsvestlnctus			I'otals
							f
MARKET VALUE				I '	I
At 1st Seplemher 2021	1,600,000				12.123	12,612.123
ILevaluations					438		438
Al 31st Au ust 2022	I,GDD,DDD				12561	1,6)2,561
NET BOOK VAI.I II'.
At 31st August 2022	I,GOD,000				12,561	1,612,561
At 31sl August 2021	1,600,000				12,123	I,G	I '2, 123

Nature of business: Opemtion	Nature of business: Opemtion
Class ofshares:		lutkling
OnlinaD		III)0 DD
			207't	2021
Aggregalc	capital mxl reserves		1.600.005	f,fi)7,056
Turnoc er			223.460	126.853
Protip(loss)	I'or the )oar		(37,051)	(44,305)

IVIARKFT vAI,UK	IVIARKFT vAI,UK
As at Isl September		2021	950,000
Revaiuatian
At 31st August	2022		950,000
NET BOOK	VAI.UE
At 31st August	2022		950,000
At 31st August	2021		950,000

					)P77	2021
					f	E
Slacks					664	1,717
DFBTORS:	AnlOUNTS	I'ALLI tvC DUE 55'ITIIIN OiVE PEAR
			GROI)P		CIIARITY
			7077	2021	2022	2021
			f	f.		f
1rude debtors			866,407	448,757	8&i0,943	443,390
Other debtors			3,660	-'1,604	3,660	4.(04
Prepayments	and accrued	incnme	148,051	19,292	148,05 I	19,292
VAT			6,733
			1.024,851	472,653	1,012,654	467,286

		GROUP		CIIARITY
		7P')7	sP71	')P)')	2021
			f
Bach loans and overdraft (sec noie 23)		249.60-1	458,238	249,60-1	458.238
Fees receive&i in advmtce (see note 22)		3,920, 149	2,980?G4	3,920,149	2.980,264
Trade creditors		1.777,158	455,491	1.170,285	445,476
Deposits	(tom parents	117.8725	110,875	117 8)5	110875
VAT			1,709
Pension	delicit (see note 24)	15,426	I 7,770	15,426	17,770
Other creditors		146,891	76.58i)	!46.8G)	7G.569
Amounts	due to rela(eil undertal, ing			36.3G7	32.900
A«rued	eq&enses	61,996	159,783	58 496	154,19G
		5.739.0-19	4260,719	5,715.013	4,276,288

		GROUP		C'IIARll'Y
		2022	2021	2022	202 I
		f		f	f
Bank loans (see note 23)		4,148,668	3,909.246	4,148,668	3,909,246
I"ees received	in advance (see note 22)	826,246	423,95 I	826,246	423,951
Deposits fiom	pariuits	939,9?5	817,875	939,925	817,875
Pension deficit	(see note 24)	f62,778	178,204	162.778	178,204
		6,077.&i i7	5,329,27G	6,077,617	5,329,276

			2P22	)Pg I
				f
Within	one	year	739,G I4	475,268
Wiihhi Within	one two	to two years to live yearn	371,590 )kk 63)	211.940 ~2I2 011
			1,5&)5,8G0	8992) t7

An analysis nf the maturity n	l'loans is given beloivt
		2022	2021
			6
Amounts falling due &vithin one year on demand:
Bank overdrag			345,243
Bank loans		249,604	112,995
		249,604	458,238
Amounts falling due between	two and live yearn:
Bmik loans - 2-5 yean		1,068,08'J	926,332
Amounts I'ailing due in morc	than five years:
Bank loans more 5yr		3,080,579	2.982,914

	20 &2	2021
'syi&hin one year	106,949	117,642
Bet&veen onc and five years	132,479	131390
	239,428	249.032

				At 1.9.21	Nct movement	Transfer	Transfer	Transfer		At 31.8?2
					in I'unds	between	lilnds
				f			f
Llnrestricted	fuuds
General I'und				8,7-'15,913	I?29,688					9,97S,601
Restricted fumls
RCF				1,314,339	44,917					1,359,256
Permnnent	Endowment		I nn&l	11,054,353	(650.400)					10,403.953
ro1AI, rUNDS				21,114,605	624,205					21,738.810
Net movenlenlin		funds.	mcludcd	in thc above are as tello&vs:
				In Coln lllg	Resources	Galas		el'Id		Movenlcnt In
				resources f	expended		losses			funds f
Unrestricted	fumls
General fund				20.239.441	(19,007.523)		12	')30)		1,22k688
Restricted funds
Rcr				187,882	(143.403)					44.917
Pernlanent	Endowment		I'aml			(GS0,400)				(6150,400)
I'OTAI. FUNDS				20.4 1.12'1	&19.). 0099666)	)62.,		19	)	624, 0.

CompAra	tiv	e	nlavealent	in lilmls
					At 1,9,20	'Net movcmenl	Transfer		At31.8.21
						in fnnds	between	fumls
						f		f
Us&restricted			funds
General	fund				7,309,806	1,436.107			8,745,913
Restricted		funds
RCF					1.143,765	170,57-1			1.314,339
Permanent			Endowment	Iraml	11,054,353				11,054,353
TOTAI.	FUNDS				!9,507,924	1,606,681			21,114,605

				ID&con&I&Dr,	ID&con&I&Dr,	Resources	Gains aad	ihlovemea't	in
				resources		expende&l	losses	lbnds
							f	f.
tlnrestrieted		funds
Generirl	fund			18,338,604		(167,900,849)	(1,648)	1.436,	107
Restricted		fumls
Rcr					95,141	(83,10))	158,534	170,574
i'ermanent		Endutvment	Fund
TOTAI,	FUNDS			Ill 4	.747	&IG. GlLsGrGl)	llGIGG	IGDGGGI

			Al 1.921	Net movement	'Iransfer	'Iransfer	'Iransfer	At 31.8.22
				in funds	between	funds
			f			f
Unrestricted	funds
General Fund			8,708,857	1,266,740				9,975,597
Restricted funds
RCF			1,3)4,339	44.917				1,359,256
i'ermaaent Vmlowment		Fund	11,054,353	(650,400)				11,054,353
TOTAI, FUNDS			21,077,549	661.257				21,738,806
Net n)oveutent	ln tbnds,	inclu&led	in the above are as follows:
			19&cur)ll))8	Resources	C7ains		and	Movement in
			resources	expended		losses		funds
			f			f		f.
Unrestricted	funds
General f&md			20,115,588	(18,846618)		(7,230)		1.266.740
Restricts&I fnn&ls
RCF			187,882	( I43,403)			438	44,917
Pcl ulnae&&'t I'1&&do&vote&&1 Fu&td					(650.400)			(650.400)
TOTAL FUNDS			2020 970	&)900002))	16.		, 92)	661257

				A( 1.9.20	Nei InOVealent	Tranafer	Tranafer	At 3(.&.21
					in tunds	between	funds
				f			f
tlnrestricte&I		funds
G&sleral fund				7,228,445	1,480,412			8,70&,857
Restricted	funds
RCI				1,143,765	(70,574			1,314,339
Permaneai	Ka&lowment		Fun&I	11,054,353				11,054,353
TOTAL I	I.INDS			19,42G,563	1,650986		-	21,077,549
Net movenlctn		in funds,	included	in the above are as follows. '
				(neon&lug	Resources	Gmns and		Muvenlent hl
				Il'.soon:cs f	aspen&led		losses 8	funds
llnrestrictcd		funds
General fultd				(8?86,956	(16.80-1,896)		(1,648)	1,4&0,412
Restricted	funds
RCF				95.141	(83,(01)		158.354	170.574
Permanent	Fndowmcni		Vaml
TOI'AL FIINDS				I II&82.6'J7	716.887,967&		1.866	1,6 6, 1'176