The COUNCIL, having received the relevant information from the Finance Committee, beg leave to report to the University as follows:
The audited accounts of the Colleges have been received and enquiries, where appropriate, have been made to ensure that the contributions of Colleges have been calculated in accordance with the provisions of Statute G, II.
The following table gives the net assessable income of each College, the gross contribution, and the net contribution to be made.
| Assessable Income from Accounts 1A and 1B | Deductible Items not Included in Accounts 1A and 1B | Excess of Deductible Items brought forward from previous years | Net Assessable Income | Gross Contribution | Set off therefrom | Net Contribution | |
| £ | £ | £ | £ | £ | £ | £ | |
| Christ's | 893,354 | 868,517 | - | 24,837 | 745 | - | 745 |
| Churchill | 945,900 | 753,112 | - | 192,788 | 5,784 | - | 5,784 |
| Clare | 1,676,977 | 527,133 | - | 1,149,844 | 131,475 | - | 131,475 |
| Clare Hall | 251,172 | 294,126 | - | - | - | - | - |
| Corpus Christi | 1,073,218 | 806,129 | - | 267,089 | 8,867 | - | 8,867 |
| Darwin | 465,231 | 342,798 | - | 122,433 | 3,673 | - | 3,673 |
| Downing | 461,079 | 627,006 | - | - | - | - | - |
| Emmanuel | 1,811,829 | 852,682 | - | 959,147 | 100,963 | 50,080 | 50,883 |
| Fitzwilliam | 250,361 | 444,061 | - | - | - | - | - |
| Girton | 787,280 | 757,775 | - | 29,505 | 885 | - | 885 |
| Gonville and Caius | 2,404,646 | 1,282,707 | - | 1,121,939 | 127,010 | - | 127,010 |
| Hughes Hall | 149,626 | 284,366 | 240,908 | - | - | - | - |
| Jesus | 1,792,729 | 1,070,235 | 23,930 | 698,564 | 59,270 | - | 59,270 |
| King's | 2,974,427 | 2,878,247 | - | 96,180 | 2,885 | - | 2,885 |
| Lucy Cavendish | 199,051 | 234,696 | - | - | - | - | - |
| Magdalene | 914,674 | 474,614 | - | 440,060 | 22,705 | - | 22,705 |
| New Hall | 571,712 | 1,920,567 | 431,800 | - | - | - | - |
| Newnham | 1,249,153 | 1,237,036 | - | 12,117 | 364 | - | 364 |
| Pembroke | 1,190,124 | 934,899 | - | 255,225 | 7,970 | - | 7,970 |
| Peterhouse | 1,094,447 | 512,966 | - | 581,481 | 40,537 | - | 40,537 |
| Queens' | 1,022,476 | 637,256 | - | 385,220 | 18,317 | - | 18,317 |
| Robinson | 368,283 | 501,560 | - | - | - | - | - |
| St Catharine's | 950,187 | 560,779 | - | 389,408 | 18,653 | - | 18,653 |
| St Edmund's | 65,389 | 173,241 | - | - | - | - | - |
| St John's | 4,581,561 | 2,226,013 | - | 2,355,548 | 324,388 | - | 324,388 |
| Selwyn | 702,146 | 699,069 | - | 3,077 | 92 | - | 92 |
| Sidney Sussex | 1,333,762 | 671,304 | - | 662,458 | 53,493 | - | 53,493 |
| Trinity | 17,588,868 | 9,402,404 | - | 8,186,464 | 1,257,334 | - | 1,257,334 |
| Trinity Hall | 1,598,749 | 711,995 | - | 886,754 | 89,381 | - | 89,381 |
| Wolfson | 88,400 | 493,680 | - | - | - | - | - |
| 49,456,811 | 33,180,973 | 696,638 | 18,820,138 | 2,274,791 | 50,080 | 2,224,711 | |
| Voluntary contribution from Trinity College | 500,000 | ||||||
| Transferred to the Colleges Fund under Statute G, II, 13 | 2,724,711 | ||||||
| Totals in financial year 2002-03 | 48,866,422 | 28,473,445 | 270,986 | 22,177,389 | 2,920,857 | 350 | 2,920,507 |
The Report covers the fourth year of contributions at the increased rates which were agreed by all the Colleges as part of the College Fee settlement with the HEFCE. The Council are pleased to report that an additional voluntary contribution of £500,000 has been made by Trinity College.
The Committee of Management of the Colleges Fund have approved grants to the corporate capital of Colleges as set out in the Annex to this Report.
| 21 June 2004 | ALISON RICHARD, Vice-Chancellor | WILLIAM BROWN | D. W. B. MACDONALD |
| S. H. ADELMAN | D. A. GOOD | JAMES MATHESON | |
| R. J. ANDERSON | DAVID S. INGRAM | MARTIN REES | |
| Z. BARANSKI | IAN LESLIE | G. A. REID | |
| RICHARD BARNES | A. M. LONSDALE | LIBA TAUB | |
| JOHN BOYD | D. LOWTHER | JOAN M. WHITEHEAD | |
| B. J. BRINDED |
The Council have received the following report from the Committee of Management of the Colleges Fund, which under Regulation 4 for the Fund (Statutes and Ordinances, p. 911) they now publish to the University.
1. The amount of money available in the Fund for distribution in 2004, including a £500,000 voluntary contribution from Trinity College, is approximately £2.75m.
2. The Committee of Management has approved the following grants to the corporate capital of Colleges to be paid on 30 June 2004:
| £ | |
| Churchill | 90,100 |
| Clare Hall | 77,800 |
| Darwin | 152,200 |
| Fitzwilliam | 246,900 |
| Girton | 98,600 |
| Hughes Hall | 223,300 |
| Lucy Cavendish | 211,000 |
| Magdalene | 57,900 |
| New Hall | 248,200 |
| Newnham | 23,100 |
| Robinson | 272,600 |
| St Catharine's | 122,000 |
| St Edmund's | 250,300 |
| Selwyn | 151,800 |
| Wolfson | 324,200 |
| 2,550,000 |
3. These grants have been calculated by using the model of a standard College with a basic requirement for endowment. The figures take account of the actual endowment requirements of the relevant applicant College, having reference to numbers of undergraduates, full-time equivalent fee-paying graduates, Fellows, and College Teaching Officers.
4. In addition to the endowment-based grants listed above, the Committee of Management have agreed to make the following exceptional grants of £100,000 each:
| (i) | to Churchill College in response to a request for assistance with emergency repair works to its buildings, and |
| (ii) | to Clare Hall in response to a request for assistance with emergency maintenance works. |