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Finance record 2015/16 - Tables 1 to 4: Guidance related to the consolidated financial statements

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Finance record 2015/16 - Tables 1 to 4: Guidance related to the consolidated financial statements

Version 1.1 Produced 2016-11-17

Contents:

The figures included in Tables 1 to 4 must be identical to the HEP's audited/published financial statements.

Due to the considerable changes to the Tables due to new accounting practices for 2015, HEPs are advised to see the FE/HE SORP (2015) for further details.

The previous year's restated figures must be included for comparative purposes. Direct entries are required for 2015/16. However from 2016/17 these will be pre-populated from the previous year's return.

Table 1 - Consolidated statement of comprehensive income and expenditure

  1. Table 1 is a consolidated statement of comprehensive income and expenditure account in the financial statements.
  2. The data for Heads 1a to 1e (and 1g) and 2a to 2e are derived automatically from Table 7 and Table 8 respectively.
  3. Where 'material' items have been disclosed as additional lines on the face of the published accounts, this item must be incorporated within the appropriate Head in Table 1. In addition, such items must be disclosed separately in Table 10.

Table 2 - Consolidated statement of changes in reserves

  1. Table 2 is a consolidated statement of the changes in reserves in the financial statements.

Table 3 - Consolidated balance sheet

  1. Table 3 is the consolidated balance sheet in the financial statements, with some additional detail.
  2. Head 2e Other (e.g. assets for resale) is included for anything else that is a one-off and is not covered by the other current assets heads, for example assets for resale.
  3. The split for Head 3 (Creditors - amounts falling due within one year) is included for use by Funding Councils. This differs slightly from Note 22 in the Model Financial Statements.
  4. The split for Head 7 (Creditors - amounts falling due after more than one year) is also included for Funding Councils. This differs slightly from Note 23 in the Model Financial Statements.

Table 3 Scotland - Investments and cash

  1. This table is for providers in Scotland only. This split for investments and cash is required by the Scottish Funding Council.
  2. For HEPS in Scotland, Table 3 Scotland will automatically populate Head 2c (Investments) and Head 2d (Cash and cash equivalents) in Table 3 UK.
  3. Investments

    Sub-head 1a (Funds, from disposal of fixed assets, held for future fixed asset acquisitions)

  4. Include here the investment funds arising from sale proceeds which are being held pending re-investment in fixed assets.
  5. Sub-head 1b (Funds held for third parties)

  6. This includes investment funds held on behalf of third parties.
  7. Sub-head 1c (Student support funds)

  8. This includes investment funds which comprise funds held for student support including bursary, discretionary and childcare funds.
  9. Sub-head 1d (Other restricted funds)

  10. This includes investment funds which have a restriction relating to the use of funds.
  11. Sub-head 1e (Unrestricted funds)

  12. Investment funds which have no restrictions on use and are not held for a third party.
  13. Cash and cash equivalents

    Sub-head 2a (Funds, from disposal of fixed assets, held for future fixed asset acquisitions)

  14. Include here the cash held from sale proceeds which are being held pending re-investment in fixed assets.
  15. Sub-head 2b (Funds held for third parties)

  16. This includes cash held on behalf of third parties.
  17. Sub-head 2c (Student support funds)

  18. This includes cash which is being held for student support including bursary, discretionary and childcare funds.
  19. Sub-head 2d (Other restricted funds)

  20. This includes cash which has a restriction relating to the use of funds.
  21. Sub-head 2e (Unrestricted cash)

  22. Cash which has no restrictions on use and is not held for a third party.

Table 4 - Consolidated statement of cash flows

  1. Table 4 is a consolidated statement of the cash flows in the financial statements. This table is intended to show the increases or decreases in net cash and cash equivalents.

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