St Catherine's College, Oxford
Accounts for financial year ended 31st July 2002

CLICK FOR THE COLLEGE CALENDAR ENTRY (ST CAT'S FELLOWS LIST ETC.)
OR THE COLLEGE'S OWN WEBSITE (EXITS WWW.AKME)
OR THE LATEST ST CATHERINE'S ACCOUNTS 2005/6 PDF
(for intervening years, e-mail request to akme@btinternet.com)
THE OXBRIDGE COLLEGE ACCOUNTS INDEX.

Numbers of students in residence during the academic year 2001-02 (taken from University Calendar 2003-04):
432 undergraduates, 135 postgraduates, 31 additional. Total=598. Click for the complete list.

INDEX: I Consolidated revenue statement, II Statutory endowment income and college contribution,
III Endowment account, IV & V Education & research account and Internal account,
VI Summary of transactions affecting accumulated balances, VII Statement of balances, opinion of the auditors.

I. CONSOLIDATED REVENUE STATEMENT

2000-01 £INCOME.2001-02 £
. From endowments and other funds:..
867,806 Net income as shown in Statement III 786,027 .
409 Less: College contribution (Statement III) Nil .
867,397..786,027
. . . .
5,184,709 From fees, dues and charges (including room rents) 5,320,787 .
873,162 Less: Collected on behalf of the University 974,718 .
4,311,547..4,346,069
. From grants and donations: . .
29,135 From the University 39,115 .
. From other Oxford colleges . .
108,079 From outside sources 89,014 .
. .. 128,129
. From other sources: . .
. . . .
________ . . ________
5,316,158 Total income . 5,260,225
. . . .
. EXPENDITURE . .
. For the college's own purposes: . .
. Other than on premises: . .
1,702,270 (i) Education and Research (Statement IV) 1,753,931 .
2,088,531 (ii) Internal (Statement V) 2,074,138 .
713,847 On college premises (Statement III) 710,778 .
4,504,648 . . 4,538,847
. . . .
285 For other purposes, excluding college contribution (Statement III) . 235
________. .________
4,504,933 Total expenditure . 4,539,082
. . . .
. SURPLUS/(DEFICIT) FOR YEAR carried to Statement VI . .
. Trust funds of which, under the terms of trusts, there was: . .
. (a) available for the college's general purposes . .
61,812 (b) carried forward for the trust purposes . 67,770
________. .________
61,812 . . 67,770
. . . .
. Reserves and special funds . .
749,413 Revenue account . 653,373
811,225 . . 721,143
. Attributable to: . .
648,038 Endowment (Statement III) 576,647 .
143,639 Education and Research (Statement IV) 181,828 .
19,548 Internal (Statement V) (37,332) .
8l1,225 . 721,143 .

II. STATUTORY ENDOWMENT INCOME AND COLLEGE CONTRIBUTION

Return to the File Index.

2000-01 £GROSS INCOME.2001-02 £
. From all relevant sources except trusts of which the college is not the sole trustee: . .
. Rent: . .
. Agricultural land . .
. Non-agricultural land . .
15,418 Let on terms that tenant not responsible for structural repairs . 15,139
. Let on other terms . .
. Gross value for rating purposes of college houses outside
the curtilage occupied by the head, fellows or employees		 . .
. Income from timber . .
. Income from minerals and mineral rights . .
1,118,534 Interest and dividends . 885,841
. Underwriting commissions . .
. Copyright royalties . .
. Other income: . .
________..________
1,133,952 . . 900,980
. Less . .
. Amount (if any) of income included above which has to be appropriated to funds
established, with the approval of the College Contributions Committee, under Section 29 of
the Universities and College Estates Act, 1923 (as amended) but not separately invested		. .
65,721 Amounts which must be applied by the college as sole trustee for purposes wholly outside the
objects of the college out of the income and in compliance with the terms, of trusts of which
the income is included above as being in part applicable for the benefit of the college		 58,896 .
65,721 . . 58,896
. From trusts of which the college is not sole trustee: . .
. Income paid to the college by the trustees or applied by them to any purpose of the college . .
________..________
1,068,231 Total of gross income from endowments and other sources as shown in Statement III . 842,084
. . . .
. PERMISSIBLE DEDUCTIONS . .
. (a) Standard deductions: . .
.In respect of the full amount of rents from agricultural land @25% .
6,167 In respect of the full amount of rents from non-agricultural land let on terms
that tenant not responsible for structural repairs		 15,139 @40% 6,056 .
. In respect of the full amount of rents from non-agricultural land let on other terms
(including, at gross value for rating purposes, college houses outside
the curtilage occupied by the head, fellows or employees) 		@10% .
55,927 In respect of the gross amount of interest and dividends 885,841 @5% 44,292 .
.(b) In respect of leaseholds:. .
. (i) Rent payable . .
. (ii) Amortization of lease premium . .
34,462 (c) Interest 27,710 .
. (d) Allowances for exceptional obligations . .
________ .________.
96,556 . . 78,058
971,675 STATUTORY ENDOWMENT INCOME . 764,026
. . . .
. CONTRIBUTION PAYABLE . .
. On 764,026 Nil .

III. ENDOWMENT ACCOUNT

Return to the File Index.

2000-01 £ INCOME . 2001-02 £
1,068,231 Gross income from endowment and other sources as shown in Statement II . 842,084
. Surplus/(deficit) on home farms and farms, sporting rights, etc., in hand after deducting
rental value included in gross income above and any relevant expenses not taken into account below		 . .
. Rents, less rental value included in gross income above, in respect of rateable hereditaments
outside the curtilage of the college occupied by a head, a fellow or an employee of the college		 . .
________.. ________
1,068,231 . . 842,084
. Less: Expenses of obtaining that income: . .
. Rent, rates, taxes and insurance (less commission) . .
. Provision for major repairs . .
. Other repairs and maintenance . .
. Amortization and depreciation . .
. . . .
165,963 Agency, management and administration 28,347 .
. Donations and subscriptions in connection with estates . .
. Entertainment of tenants and others . .
. Other expenses: . .
34,462 Interest 27,710 .
________.________ .
200,425 . . 56,057
867,806 Net income as shown in Statement I . 786,027
. . . .
. AMOUNTS PAYABLE OUT OF ABOVE NET INCOME OTHERWISE
THAN FOR THE COLLEGE'S OWN PURPOSES		 . .
409 College contribution (Statement II) Nil .
. Donations and subscriptions: . .
285 (i) for University objects 235 .
. (ii) Other . .
. Livings . .
. Maintenance of schools . .
. Other: . .
________ . ________ .
285 . 235 .
285 . . 235
________ . . ________
867,112 Net income available for college's own purposes . 785,792
. Less: Amount of trust fund income transferred to Statement IV and V
equivalent to expenditure from trusts included in those Statements.		 . .
99,494 Statement IV 91,541 .
. Statement V . .
________.________.
99,494 . . 91,541
767,618 BALANCE AVAILABLE FOR THE COLLEGE'S OWN PURPOSES . 694,251
. . . .
. EXPENSES OF COLLEGE PREMISES AND AEDES ANNEXAE . .
. Repair and maintenance of fabric and exterior of buildings: . .
116,000 (i) Provision for major repairs 119,000 .
5,574 (ii) Other repairs and maintenance 844 .
29,298 (iii) Amortization and depreciation 29,298 .
________.________ .
150,872 . 149,242 .
49,866 Upkeep of gardens and grounds 49,520 .
200,738 . . 198,762
. All other building repairs and maintenance (including interior redecoration): . .
271,000 (i) Provision for major repairs 277,900 .
207,145 (ii) Other repairs and maintenance 195,390 .
. Rent . .
12,965 Rates and taxes 14,701 .
21,999 Insurance (less commission) 24,025 .
513,109 . . 512,016
713,847.. 710,778
. Less: Contribution from Statements IV and V: . .
81,158 (i) For upkeep of fabric, gardens and grounds (based on standard formula) 81,158 .
513,109 (ii) For other expenses 512,016 .
594,267 . . 593,174
119,580 . . 117,604
. . . .
648,038 SURPLUS/(DEFICIT) . 576,647

IV. EDUCATION AND RESEARCH ACCOUNT
V. INTERNAL ACCOUNT

Return to the File Index.

2000-01 £
IV Ed&Res		2000-01 £
V Internal		INCOME 2001-02 £
IV Education
& Research		2001-02 £
V Internal		2001-02 £
Total
. . Fees (other than those collected for the University) . . .
1,728,054 432,014 Consolidated 1,834,724 458,681 2,293,405
. . (ii) Tuition . . .
. . (iii) Dues and establishment charges . . .
. . (iv) Degree . . .
. . (v) Library . . .
. . (vi) Other . . .
________ ________ . ________________________
1,728,054 432,014 . 1,834,724 458,681 2,293,405
. . . . . .
. 1,870,668 Charges for accommodation (including notional room rents), meals & service . 1,784,814 1,784,814
. 71,005 Rents from furnished accommodation outside the college occupied by student members . 85,176 85,176
. 209,806 Sales from buttery and stores . 182,674 182,674
________ ________ . ________________________
1,728,054 *2,583,493 . 1,834,724 *2,511,3454,346,069
. . . . . .
99,494 . Amount of trust fund income available only for expenditure dealt with
in this account (transferred from Statement III)		 91,541 . 91,541
. . . . . .
. . Research grants: . . .
29,135 . (i) From the University 39,115 . .
. . (ii) From other Oxford colleges . . .
85,137 . (iii) From outside sources 65,166 . .
114,272 . . 104,281 . .
. . . . . 104,281
. . Other Grants and contributions . . .
. . (i) From the University . . .
. . (ii) From other Oxford colleges . . .
22,942 . (iii) From outside sources 23,848 . .
22,942 . . 23,848 . .
. . . . . 23,848
. . Charges to other accounts: . . .
. . Statement III: Entertainment of tenants and others . . .
. 72,935 Statement IV: Common Table . 74,169 .
. 42,594 Statement IV: College hospitality . 48,399 .
. 115,529 . . 122,568 122,568
. . Other income: . . .
________ ________ . ________________________
1,964,762 2,699,022 Total income 2,054,394 2,633,913 4,688,307
. . . . . .
..* NOTE: Charged to...
. 1,537,741 Members and employees of the college . 1,639,634 .
. . Other colleges . . .
. 1,045,752 Others (conferences etc.) . 871,711 .
. ________ . . ________ .
. 2,583,493 . . 2,511,345 .
. . . . . .
..EXPENDITURE.. .
58,533 . Head of College 55,280 . 55,280
473,868 . Teaching fellows 483,144 . 483,144
. . Other fellows 20,470 . 20,470
204,212 . Stipendiary lecturers 215,981 . 215,981
72,927 . Outside tuition payments 74,407 . 74,407
168,222 . Other tuition and research expenses (including research assistants) 142,492 . 142,492
72,935 . Common Table 74,169 . 74,169
53,847 . Library 56,646 . 56,646
. . Research studentships, scholarships, exhibitions, prizes, grants: . . .
. 66,497 (i) Provided from trust funds 58,630 . .
30,924 . (ii) Provided otherwise 33,839 . .
97,421 . . 92,469 . 92,469
. . . . . .
708 . Examiners and examination expenses (including fees
paid to the Oxford Colleges Admissions Office)		 368 . 368
477 . Chaplain and chapel services 465 . 465
42,594 . College hospitality 48,399 . 48,399
65,851 . Junior clubs 71,216 . 71,216
863 . Subscriptions and donations to the college's own academic objectives 795 . 795
. 531,327 Catering supplies consumed (less sale of waste). 573,451 573,451
. . Outside caterers' and other colleges' charges . . .
..Services:...
52,590 870,479 (i) Domestic staff 60,786 931,124 991,910
31,512 126,049 (ii) Heat, light, water 23,104 92,416 115,520
7,991 67,069 (iii) Laundry and cleaning 7,756 68,987 76,743
50,520 202,078 (iv) Repair, renewal, insurance (less commissions) and
depreciation of furniture and equipment		 50,105 200,421 250,526
142,613 1,265,675 . 141,75l 1,292,9481,434,699
. .Administration: . . .
77,638 130,114 (i) College officers and others 83,017 136,753 219,770
128,600 49,472 (ii) Office and clerical staff 135,014 48,053 183,067
37,459 43,731 (iii) Office expenses 34,278 41,776 76,054
3,502 14,006 (iv) Legal and professional charges 3,570 14,281 17,851
________ ________ . ________ ________ ________
247,199 237,323 . 255,879 240,863 496,742
. . . . . .
. 2,850 Pensions paid to former members and employees of the college . 2,850 2,850
. . Other expenses . . .
. 94,431 Conference . 86,594 86,594
. 72,454 Conference taxation . . .
________________. ________________________
1,702,270 2,204,060 . 1,753,931 2,196,706 3,950,637
..College premises:...
118,853 475,414 Contribution to Statement III for repair and maintenance, rent, rates, taxes, insurance 118,635 474,539 593,174
________ ________ . ________________________
1,821,123 2,679,474 . 1,872,566 2,671,245 4,543,811
. . . . . .
143,639 19,548 SURPLUS/(DEFICIT) 181,828 37,332 144,496

VI. SUMMARY OF TRANSACTIONS AFFECTING ACCUMULATED BALANCES

Return to the File Index.

. Trust funds
for purposes
wholly outside
the objects of
the college £		 Other trust
funds £		 Capital
account £		 Reserves
and special
funds £		 Revenue
account £		 Total £
BALANCES AT BEGINNING OF YEAR
(excluding invested balances of trust
funds and capital account)		 4,078,968 569,627 5,405,730 3,800,061 . 13,854,386
ADD:......
Net proceeds of sale of estates . . . . . .
Net proceeds of sale and redemption of
securities of trust funds and capital account		 . . 3,108,203 . . 3,108,203
Surplus/(deficit) of income for the year: . . . . . .
(i) Trust funds only for purposes wholly
outside the objects of the college		 . . . . . .
(ii) Capital account - income of funds established
under Section 29 of the Universities and
College Estates Act 1925 (as amended)		 . . . . . .
(iii) Other accounts and funds (Statement I) . 67,770 . . 653,373 721,143
Internal transfers: . . . . . .
(i) As the result of charges made in arriving at amounts
of surplus/(deficit) of income for the year 		58,896 . 37,069 448,742 . 544,707
(ii) Otherwise . . 670,152 36,965 . 707,117
Other receipts: . . . . . .
Benefactions . 17,013 687,188 94,883 . 799,084
Donation from St Catherine's College Management Li . . 168,873 . . 168,873
Loan repayments . . 39,372 . . 39,372
.________________ ________________________ ________
. 58,896 84,783 4,710,857 580,590 653,373 6,088,499
DEDUCT:... ...
Cost of purchase and improvement of estates . . 1,746,234 . . 1,746,234
Cost of purchase of securities for trust funds
and capital account		 . . 3,742,372 . . 3,742,372
Cost of additions and improvements to college premises. . . . . .
Expenditure out of fund for major repairs to estates . . . . . .
Major repairs to fabric and exterior of buildings . . . . . .
Other major repairs and maintenance
(including interior redecoration)		 . . . 433,681 . 433,681
Internal transfers - amounts deducted otherwise than
in arriving at surplus/(deficit) of income for year		 48,744 . . 5,000 653,373 707,117
Other payments: . . . . . .
Expenditure from accumulated balances 438,621 . 27,326 213,906 . 679,853
Loans . . 32,732 . . 32,732
Loss on exchange 217,609 . 23,410 . . 241,019
.________________ ________________________ ________
. 704,974 . 5,572,074 652,587 653,373 7,583,008
. . . . . . .
BALANCES AT END OF YEAR
(excluding invested balances of trust
funds and capital accounts)		 3,432,890 654,410 4,544,513 3,728,064 . 12,359,877

VII. STATEMENT OF BALANCES

Return to the File Index.

2000-01 £ . . 2001-02 £
. Trust funds (excluding amounts invested) held and administered by the college: . .
4,078,968 (i) Only for purposes wholly outside the objects of the college 3,432,890 .
569,627 (ii) Wholly or partly for the benefit of the college 654,410 .
4,648,593 . . 4,087,300
. . . .
5,405,730 Capital account (excluding amount invested) . 4,544,513
3,800,061 Reserves and special funds . 3,728,064
. Revenue account . .
________ . . ________
13,854,386 . . 12,359,877
. . . .
. Represented by: . .
. ASSETS . .
2,472 Cash in hands of officers and servants 3,534 .
6,017,336 Balance with bankers . 4,028,013
8,993,398 Deposits other than with bankers . 9,343,194
. Investments (other than of trust funds and capital account)
NOTE: Market Value 		. .
. . . .
. Debtors and debit balances: . .
38,486 (i) Battels 27,063 .
. (ii) Rents . .
275,779(iii) Other 618,069 .
314,265 . . 645,132
. . . .
3,832 Income tax recoverable . 2,362
162,664 Stocks and stores . 169,728
217,831 Furniture and Equipment . 190,123
________..________
15,711,798 . . 14,382,086
. . . .
. LIABILITIES . .
. Caution money . .
. Bank overdraft . .
1,085,294 Loans 1,068,595 .
. Unexpended balances of grants for specific purposes . .
772,118 Other creditors and credit balances 953,614 .
1,857,412 . . 2,022,209
13,854,386 .. 12,359,877

Return to the File Index.

AUDITORS' CERTIFICATE

Report of the auditors to the Governing Body of St Catherine's College

We have audited the Statement of Accounts on pages 2 to 11 which have been prepared in accordance with the provisions of Statute XII Section II clauses 1, 2 and 3 made under the Universities of Oxford and Cambridge Act 1923.

Respective responsibilities of the Governing Body of the College and Auditors

The Governing Body of the College is responsible for the preparation of the financial statements.
The University Statute requires the College to prepare financial statements for each financial year which:

(a) Give a true and fair view of:

(i) the income of the college from all sources, the expenditure of a revenue nature properly chargeable against such income, and the extent by which in total such income exceeded or fell short of such expenditure.

(ii) the allocation of the aforesaid income and expenditure as between:
A Endowment
B Education and research
C Internal
in accordance with the provisions of the statute, showing the resultant surplus or deficit in each case.

(iii) the nature and extent of all other changes in the balances of the funds, other than invested balances of capital and trust funds, administered by the college (provided that in relation to the revenue transactions of trust funds administered for purposes wholly external to the college it shall suffice to show only the amount by which the income exceeded or fell short of the expenditure)

(iv) the assets and liabilities by which the aforesaid balances were represented at the end of the financial year.

(b) Show the computation of the statutory endowment income and of the liability for, or as the case may be the exemption from, College contribution.

It is our responsibility to form an independent opinion as to whether the statements comply with these provisions and that statutory endowment income, and College contribution, have been correctly computed.

Basis of audit opinion

We conducted our audit in accordance with Auditing Standards issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the preparation of the accounts, and whether the accounting policies adopted by the College have been consistently applied.\

We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurances that the accounts are free from material misstatement, whether caused by fraud or other irregularity or error.

Opinion

In our opinion:

(i) The accounts comply with the provisions of Statute Title XII Section II made under the Universities of Oxford and Cambridge Act 1923 and

(ii) the statutory endowment income and the amount payable as College contribution have been correctly computed.

(iii) In all material respects, income received from the University of Oxford out of grants from the Higher Education Funding Council for England during the year ended 31 July 2002 has been applied for the purposes for which it was received.

Deloitte & Touche
Chartered Accountants
Registered Auditors

6 November 2002

CLICK FOR:

THE TOP OF THIS FILE

THE NEXT COLLEGE ACCOUNT 2001/2 (ST EDMUND HALL)

THE LATEST ST CATHERINE'S ACCOUNTS 2005/6 PDF

(for intervening years, e-mail request to akme@btinternet.com)

THE COLLEGE CALENDAR ENTRY (ST CAT'S FELLOWS LIST ETC.)

THE COLLEGE'S OWN WEBSITE (EXITS WWW.AKME)

THE OXBRIDGE COLLEGE ACCOUNTS INDEX AND OUP ACCOUNTS INDEX

THE SURPRISING TRUTH ABOUT OUP'S 'CHARITABLE STATUS'

MALCOLM vs. OXFORD INDEXES: I (1984-92) & II (2001-02)

THE HISTORY OF AKME AND OF THIS WEBSITE

THE AKME OXFORD CUTTINGS LIBRARY

THE AKME LITERARY LAW LIBRARY

AKME STUDENT LAW LIBRARY

ABOUT MAKING NAMES

ABOUT THE REMEDY

THE SITE INDEX

e-mail: akme@btinternet.com