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Grants from the Colleges Fund: Notice

5 May 2003

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. 919) they now publish to the University.

1. The amount of money available in the Fund for distribution in 2003 is approximately £3.2m.

2. The Committee of Management have approved the following grants to the corporate capital of Colleges to be paid on 30 June 2003:

Churchill107,500
Clare Hall79,900
Darwin175,000
Downing107,500
Fitzwilliam258,200
Girton46,700
Hughes Hall 281,600
Lucy Cavendish 302,800
Magdalene43,800
New Hall 232,000
Robinson325,400
St Catharine's 159,200
St Edmund's 325,500
Selwyn180,900
Wolfson374,000
 
Total3,000,000

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. The Committee of Management continues in discussion with the Colleges' Committee's Working Group on the System for Intercollegiate Support, which is considering ways in which taxation and distribution might be brought together within a single framework.

5. In addition to the endowment-based grants listed above, the Committee of Management have agreed to make a one-off grant in the sum of £210,000 to Hughes Hall in response to a request for assistance. This grant is conditional on the College going ahead with its residential accommodation project at Fenner's.

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Cambridge University Reporter, 8 May 2003
Copyright © 2003 The Chancellor, Masters and Scholars of the University of Cambridge.