NOTES TO THE FINANCIAL STATEMENTS 31 March 2024 21. DEFERRED CAPITAL GRANTS 2024 2023 $’000 $’000 Balance as at 1 April 594,827 616,718 Transferred from: – Operating grants (Note 10(ii)) 330 456 – Research grants (Note 10(iii)) 5,632 5,265 – Debt grant (Note 10(iv)) 7,808 5,096 – Other grants 87 154 Amortisation of deferred capital grants (Note 7) (33,096) (32,862) Balance as at 31 March 575,588 594,827 22. NON-ENDOWMENT FUND 2024 2023 $’000 $’000 Accumulated surplus 15,378 12,486 Represented by: Cash and cash equivalents 14,934 13,785 Property, plant, and equipment 447 420 Intangible assets 9 3 Other payables (12) (1,722) 15,378 12,486 23. ENDOWMENT FUND 2024 2023 $’000 $’000 Capital: – Government grants 854,117 844,964 – Donations 200,818 198,098 1,054,935 1,043,062 Accumulated surplus 357,295 274,775 1,412,230 1,317,837 Represented by: Cash and cash equivalents 13,532 34,331 Grants and other receivables 9,807 10,834 Property, plant, and equipment 8 11 Intangible assets 3 4 Financial assets at fair value through profit or loss 1,388,880 1,274,110 Other payables – (1,453) 1,412,230 1,317,837 The objectives of this fund include the advancement and dissemination of knowledge, the promotion of research and awarding of scholarships. Donations from external parties and government matching grants which are to be kept intact as capital of $2,720,000 (2023 : $2,697,000) and $9,153,000 (2023 : $8,797,000) respectively, are taken directly to endowment fund – capital during the current financial year. p. 84 SINGAPORE UNIVERSITY OF TECHNOLOGY AND DESIGN
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