NOTES TO THE ACCOUNTS
NOTE 37 – PENINSULA COLLEGE OF MEDICINE AND DENTISTRY continued
Explanatory Notes i.
Background The Peninsula College of Medicine and Dentistry (PCMD) is not a legal entity in its own right. It is a joint arrangement not an entity entered into in partnership by the University of Exeter and the University of Plymouth. PCMD, in turn, has partnership arrangements with three NHS Trusts (The Royal Devon and Exeter NHS Foundation Trust, Plymouth Hospitals NHS Trust and Royal Cornwall Hospitals Trust) and further arrangements with healthcare providers throughout the South West peninsula. The Planning and Performance Committee is accountable to the Council of the University of Exeter and the Board of Governors of the University of Plymouth and is responsible to the Universities in respect of the overall management of PCMD within the policies and parameters set by the Universities’ governing bodies. In making recommendations the Planning and Performance Committee has due regard to the statutory and other legal obligations of the Universities and the NHS institutions.
ii.
Audit arrangements A 50% share of the Income, Expenditure and Balance Sheet items (excluding research) of the Peninsula College of Medicine and Dentistry is included within the Income and Expenditure Account and Balance Sheet of each of the Universities. The items comprising the externally funded research activity of PCMD are included within the statements of the University employing each project’s Principal Investigator. These transactions are part of the audited financial statements of each University for the year ended 31 July 2011.
iii.
Funding Council grants
Recurrent grant Other specific grants Deferred capital grants released in the year: Equipment
iv.
2011 £’000
2010 £’000
16,689
15,928
685
953
84
83
17,458
16,964
NHS funding
NHS funding
2011
2010
£’000
£’000
4,150
7,528
This funding was receivable to cover HE expenditure attributable to the NHS aspects of the Peninsula College of Medicine and Dentistry. v.
70
Other income 2011
2010
£’000
£’000
Other grant income
1,467
4,630
Other income
1,139
224
2,606
4,854
UNIVERSITY OF EXETER:
F I N A N C I A L S TAT E M E N T S F O R T H E Y E A R E N D E D 3 1 J U LY 2 0 1 1