Accumulated surplus Note Endowment fund General fund Nonendowment fund Endowment fund Total $’000 $’000 $’000 $’000 $’000 Balance as at 1 April 2023 1,043,062 235,163 12,486 274,775 1,565,486 Total comprehensive income for the year – 32,735 2,892 82,520 118,147 Government grants 23 9,153 – – – 9,153 Donations received 23 2,720 – – – 2,720 Balance as at 31 March 2024 1,054,935 267,898 15,378 357,295 1,695,506 Balance as at 1 April 2022 1,031,568 212,512 12,617 362,738 1,619,435 Total comprehensive income/(loss) for the year – 22,651 (131) (87,963) (65,443) Government grants 23 8,797 – – – 8,797 Donations received 23 2,697 – – – 2,697 Balance as at 31 March 2023 1,043,062 235,163 12,486 274,775 1,565,486 The accompanying notes form an integral part of these financial statements. STATEMENT OF CHANGES IN FUNDS AND RESERVES Year ended 31 March 2024 p. 62 SINGAPORE UNIVERSITY OF TECHNOLOGY AND DESIGN
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