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Displaying 3697 contributions
Education, Children and Young People Committee
Meeting date: 19 March 2025
John Mason
Okay. I saw one amount in particular—a spin-out of £40 million, which was being held separately. Is that correct? It was included in the £74 million, but it was going to be used for strategic investment. Has that £40 million been used, or is it still there?
Education, Children and Young People Committee
Meeting date: 19 March 2025
John Mason
I think that you have said already that you were looking at quarterly accounts but that you now get monthly accounts from Dundee.
Education, Children and Young People Committee
Meeting date: 19 March 2025
John Mason
Both your colleagues want to come in.
Education, Children and Young People Committee
Meeting date: 19 March 2025
John Mason
Is that the arrangement for Dundee?
Education, Children and Young People Committee
Meeting date: 19 March 2025
John Mason
Good morning. I was having a look at your latest financial statements, which I think are the July 2023 ones. Am I right in saying that the July 2024 ones have not yet been published?
Education, Children and Young People Committee
Meeting date: 19 March 2025
John Mason
Is the auditor still Ernst & Young?
Education, Children and Young People Committee
Meeting date: 19 March 2025
John Mason
I will pick out a few points out of the previous accounts that we have. The first is the auditor’s opinion that the university was still a going concern in July 2023—in fact, it presumably thought that it was still a concern in December, because it did not sign the accounts until then. It said:
“Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and institution’s ability to continue as a going concern for the period to 31 July 2025”.
I presume that you and the auditors were happy with that statement. At December 2023, there were absolutely no worries about the university being a going concern. Is that correct?
09:30Education, Children and Young People Committee
Meeting date: 19 March 2025
John Mason
I do not mind who answers.
Education, Children and Young People Committee
Meeting date: 19 March 2025
John Mason
I got the point that that was an internal decision.
The unrestricted reserves looked quite good in July 2023, at £161 million. Can you give us an idea of what they were last July?
Education, Children and Young People Committee
Meeting date: 19 March 2025
John Mason
If you have the draft accounts there, are you able to tell us what the deficit per the accounts would have been up to July 2024?