Glasgow College Of Nautical Studies
INCOME & EXPENDITURE ACCOUNT
Actual
2008-09
Forecast
2009-10
Forecast
2010-11
Forecast
2011-12
Forecast
2012-13
£000 £000 £000 £000 £000
INCOME
Funding council grants 8,192 8,006 8,088 8,091 8,094
Tuition fees and education contracts 5,110 5,400 5,930 5,996 6,031
Research grants and contracts 0 0 0 0 0
Other income 2,721 2,497 2,510 2,535 2,535
Endowment and investment income 314 87 200 250 313
Total income 16,337 15,990 16,728 16,872 16,973
EXPENDITURE
Staff costs 11,513 11,619 11,851 11,970 12,090
Exceptional restructuring costs 0 0 0 0 0
Non-restructuring exceptional costs 0 0 0 0 0
Other operating expenses 3,709 3,903 3,942 3,981 4,021
Depreciation 775 785 867 834 834
Interest
payable 0 0 0 0 0
Merger
Savings 0 0 0 0 0
Total expenditure 15,997 16,307 16,660 16,785 16,945
Surplus/(deficit) on continuing operations
after depreciation of tangible fixed assets at
valuation
340 (317) 67 87 28
FRS 17 Pension adjustment (196) (188) 0 0 0
Surplus/(deficit) on continuing operations
after depreciation of tangible fixed assets at
valuation and after FRS17
144 (505) 67 87 28
Gain on sale of fixed assets or sale/termination
of an operation
0 0 0 0 0
(Loss) on sale of fixed assets or
sale/termination of an operation
0 0 0 0 0
Surplus/(deficit) on continuing operations
after depreciation of assets at valuation and
disposal of assets and tax
144 (505) 67 87 28
Transfer (to)/from revaluation reserve 398 398 398 398 398
Transfer (to)/from pension reserve 196 188 0 0 0
Transfer (to)/from accumulated income within specific endowments 0 0 0 0 0
Transfer (to)/from restricted funds 0 0 0 0 0
Amount carried forward to I&E account 738 81 465 485 426
Appendix 6: Financial Projections
106