§ Mr. Ieuan Wyn JonesTo ask the Secretary of State for Wales what are the current levels of reserves held by each higher education establishment in Wales. [31363]
§ Mr. HainThe current levels of reserves held by each higher education institution in Wales are as follows:
Education Institution £ North East Wales Institute of Higher Education 12,598,000 Swansea Institute of Higher Education 12,038,000 Trinity College Carmarthen 1,857,000 University of Glamorgan 40,022,000 University of Wales College of Medicine 24,636,000 University of Wales College, Newport 22,740,000 University of Wales Institute, Cardiff 33,013,000 University of Wales Registry 8,118,000 University of Wales Swansea 8,045,000 University of Wales, Aberystwyth 104,712,000 University of Wales, Bangor 73,407,000 University of Wales, Cardiff 106,349,000 University of Wales, Lampeter 4,088,000 Welsh College of Music and Drama 3,700,000 These figures include the Revaluation Reserve and the Income and Expenditure Account Reserve.
734WThe Revaluation Reserve relates to the fixed assets of a higher education institution and demonstrates changes in the value of those fixed assets. It does not therefore represent cash held by an institution.
The Income and Expenditure Account Reserve represents the total of all reserves (excluding the Revaluation Reserve) of a higher education institution and its subsidiary undertakings and is made up of the cumulative annual surplus (or deficit). The Income and Expenditure Account Reserve is not necessarily available for spending as, in the main, the constituent reserves are not backed by cash in the bank.
I would like to emphasise that the figures cannot be taken as an indication of the financial health position of higher education institutions nor are they an indicator of their cash position. In order to determine financial health a wide variety of accounting factors are required to be taken into account which are far wider than just the issue of reserves.