Financial Report | 153
EXPENDITURE The Campus continued to restrain its expenditure in accordance with the budget, in line with the prior year and available cash resources, and it also continued to address some critical repairs to the plant. ASSETS AND LIABILITIES Cash During the year, the Campus’ cash balances further decreased by BBD 4.5 million as receivables rose. The majority of cash was restricted as the vast majority of the money received was reserved for payroll related payables. The Campus is now only one month behind in the settlement of non-payroll suppliers. Payments during the year were funded by receipts from contributing governments, tuition fees and other income. The cash balance stood at BBD 33 million (July 31, 2021 – BBD 37.5 million), of which BBD 32 million related to restricted funds for pensions, grant funds, etc. Some of the unrestricted funds will be used to ameliorate some of the critical capital repairs on campus in support of the physical return to plant. All of the Campus’ statutory obligations continued to be settled on time. Accounts Receivable Included in this figure are tuition fees due from third parties, BBD 57 million (July 31, 2021 – BBD 45.4 million), as well as amounts due from students and staff members. The majority of this balance relates to amounts owing from some govern- ments that are billed for their nationals. See Table 24. Table 24 Accounts Receivables July 31, 2022 July 31, 2021 Other receivables 3,037,741 2,706,157 Staff Receivables 1,376,908 413,148 Student receivables (gross) 11,297,155 10,391,576 Third Party Receivables (gross) 57,024,926 45,397,877 VAT Receivables 9,967,354 9,839,708 82,704,084 68,748,466 Property, Plant and Equipment There was little activity on capital projects during the period, with only continuing critical maintenance work. Depreciation charged for the period amounted to BBD 5.8 million (July 31, 2021 – BBD 5.9 million).
THE UNIVERSITY OF THE WEST INDIES CAVE HILL CAMPUS ANNUAL REPORT TO COUNCIL 2021/2022
Made with FlippingBook Ebook Creator