DOWNING COLLEGE CAMBRIDGE ANNUAL REPORT and ACCOUNTS for the Financial Year Ending 30 June 2015
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DOWNING COLLEGE CAMBRIDGE ANNUAL REPORT AND ACCOUNTS for the financial year ending 30 June 2015 The West Range ©Tim Rawle www.dow.cam.ac.uk 2 Contents 5. Financial Highlights 6. Members of the Governing Body 9. Officers and Principal Professional Advisors 11. Report of the Governing Body 67. Financial Statements 77. Principal Accounting Statements 78. Consolidated Income & Expenditure Account 79. Consolidated Statement of Total Recognised Gains and Losses 80. Consolidated Balance Sheet 82. Consolidated Cashflow Statement 85. Notes to the Accounts 3 4 Financial HIGHlIGHtS 2015 2014 2013 £ £ £ Highlights Income Income 10,308,808 10,155,889 9,663,733 Donations and Benefactions Received 1,393,825 5,292,916 3,124,484 Financial | Conference Services Income 2,218,516 2,042,832 2,130,085 Operating Surplus 183,909 320,009 336,783 2015 Cost of Space (£ per m2) £152.11 £150.87 £150.20 College Fees: June Publicly Funded Undergraduates £4,185/£4,500 £4,068/£4,500 £3,951/£4,500 30 Privately Funded Undergraduates £7,719 £7,350 £6,999 Graduates £2,474 £2,424 £2,349 Ended loss on College Fee per Student £2,663 £2,436 £2,630 Year Capital Expenditure Investment in Historical Buildings 1,299,886 1,751,811 573,388 Investment in Student Accommodation 4,592,605 1,499,507 740,562 Assets Free Reserves 5,002,275 8,349,966 13,372,300 Investment Portfolio 38,771,009 35,775,344 34,917,793 Spending Rule Amount 1,673,708 1,652,971 1,543,197 total Return 10.9% 7.6% 9.2% total Return: 3 year average 9.2% 7.7% 10.3% Return on Property 8.8% 5.8% 7.6% Return on Property: 3 year average 7.4% 8.3% 12.1% Return on Securities 12.1% 8.9% 10.8% Return on Securities: 3 year average 10.6% 6.5% 8.1% Net Assets 150,983,831 147,365,167 141,519,568 5 DOWNING COllEGE, CAMBRIDGE CB2 1DQ Body Patron: HRH The Duchess of Kent, GCVO Visitor: The Crown Governing MEMBERS OF THE GOVERNING BODY the Master: Professor Geoffrey Grimmett, MA (Oxon), DPhil (Oxon), DSc (Oxon), ScD, FRS Professor of Mathematical Statistics of the Fellows of the College (in order of Election) as of 1 October 2015 Paul Christopher Millett, MA, PhD, Vice-Master, Collins Fellow in Classics, University Senior lecturer in Classics (1983) William Mark Adams, MA, MSc (london), PhD, Moran Professor of Conservation and Development (1984) Members | trevor William Clyne, MA, PhD, FREng, Professor of the Mechanics of Materials (1985) Catherine lynette Phillips, BA (Queen’s), MA (toronto), PhD, Tutor, R J Owens Fellow in English (1988) Graham John Virgo, BCl (Oxon), MA, Professor of English Private law (1989), University Pro-Vice-Chancellor (Education) 2015 John Stuart landreth McCombie, MA, MA (McMaster), PhD, Tutor, Professor of Regional and Applied Economics (1989) David John Wales, MA, PhD, ScD, FRSC, Professor of Chemical Physics (1989) June trevor William Robbins, CBE, MA, PhD, FRS, Professor of Cognitive Neuroscience (1991) Christopher Allim Haniff, MA, PhD, Fellows’ Steward, Professor of Physics (1993) 30 Nicholas Coleman, BSc, MB, ChB (Bristol), PhD, FMed Sci, Verjee Fellow in Medicine, Professor of Molecular Pathology (1994) Adam Noel ledgeway, BA (Salford), MA (Manchester), PhD (Manchester), Professor of Italian and Romance linguistics (1996) Ian Richard James, MA, MA (Warwick), PhD (Warwick), Tutor, Reader in French (1996) Ended Susan Elizabeth lintott, MA, PhD (Kent), Senior Bursar, Senior Treasurer of the Boat Club (1997) Zoe Helen Barber, MA, PhD, Reader in Materials Science (2000) Year Sophia Demoulini, BA (Wooster), MSc (Minnesota), PhD (Minnesota), Fellow in Mathematics (2000) Ian Gareth Roberts, BA (Wales, Bangor) MA (Salford), PhD (Southern California), littD, FBA, Professor of linguistics (2000) Michael Trevor Bravo, BEng (Carleton), MPhil, PhD, University Senior lecturer at the Scott Polar Research Institute (2001) David Robert Pratt, MA, PhD, FRHistS, Secretary to the Governing Body, Fellow Archivist and Keeper of Art and Artefacts, Fellow in History (2001) David John Feldman, QC (Hon), MA (Oxon), DCl (Oxon), FBA, FRSA, Rouse Ball Professor of English law (2003) liping Xu, BSc (Beijing), PhD, University lecturer in Turbomachinery (2004) Paul Derek Barker, BSc (Imperial College, london), DPhil (Oxon) University Senior lecturer in Chemistry (2004) Guy Barnett Williams, MA, PhD, Senior Tutor, Assistant Director of Information Processing, Wolfson Brain Imaging Centre (2004) Marcus Tomalin, MA, MPhil, PhD, Fellow Librarian, Admissions Tutor, Graduate Admissions Tutor, Tutor, Senior Treasurer of the Music Society, Fellow in English, University Research Associate in Engineering (2004) Jay Theodore Stock, BA (trent), MSc (Guelph), PhD (toronto), Graduate Tutor, University Senior lecturer in Human Evolution and Development (2005) Natalia Mora-Sitja, BSc (Barcelona), MA (Barcelona), MSc (Oxon), DPhil (Oxon), Tutor, University lecturer in Economic History (2005) William O’Neill, BSc (Essex), MSc (Essex), PhD (Imperial), Professor of laser Engineering (2006) Amy Catherine Goymour, MA, BCl (Oxon), Tutor, University lecturer in land law (2006) Adriana Irma Pesci, MS, PhD (Nacional de la Plata), Darley Fellow in Mathematics (2006) Amy louise Milton, MA, MSc, PhD, Praelector, Ferreras Willetts Fellow in Neuroscience, University lecturer in Experimental Psychology (2007) 6 Brigitte Steger, MA, MPhil (Vienna), PhD (Vienna), Senior lecturer in Modern Japanese Studies (2007) Kenneth McNamara, BSc (Aberdeen), PhD, Dean, University Senior lecturer in Earth Sciences (2008) Richard Keith Taplin, MBE, BSc (lSE), MA, Junior Bursar, University Junior Proctor (2009) Jie li, BS (Wuhan), MS (Paris), PhD (Paris), University lecturer in Fluid Dynamics (2009) Body Keith James Eyeons, MA, MA (Nottingham), PhD, Chaplain, Praelector, Fellow Information Officer, Fellow in Theology (2010) Robert Keith Harle, MA, PhD, Acting Dean, University Senior lecturer in Computer Science (2010) timothy James Burton, MA, MB, BChir, PhD, Fellow in Pharmacology, Clinical lecturer in Translational Medicine & Therapeutics (2010) Marta Morgado Correia, BA (lisbon), PhD, Admissions Tutor, Graduate Admissions Tutor, Fellow in Biological Sciences, Senior Investigator Scientist at the MRC Cognition and Brain Sciences Unit (2010) Alicia Hinarejos, BA (Valencia), MPhil (Valencia), BA (UNED), MJur, MPhil, DPhil (Oxon), University lecturer in law (2011) Governing Gabrielle Bennett, BA (Virginia), Development Director (2011) the Michael Housden, MSci, MA, PhD, Senior Treasurer of the Amalgamation Club, Mays-Wild Fellow in Chemistry (2012) Kamran Yunus, BSc (Bath), PhD (Bath), Tutor, Fellow in Chemical Engineering (2012) of John Richer, MA, PhD, Professor of Astrophysics (2013) Sarah Kennedy, BA (Melbourne), llB (Melbourne), PhD, Research Fellow in English (2013) Monica Moreno Figueroa, BA (leon), MA (Mexico City), MA (Goldsmiths), PhD (Goldsmiths), Fellow in Social Sciences, University lecturer in Sociology (2014) Members Brendan Plant, BEc (Sydney), llB (Sydney), MSc (lSE), PhD, Hopkins Parry Fellow in law (2014) | Harriet Groom, MSc, MA, PhD, Henslow Research Fellow in Natural Sciences (Biological) (2015) Andrew Nicholas Holding, MChem (Oxon), PhD, Fellow in Biochemistry (2015) Ruth Ellen Nisbet, BSc (UCl), PhD, Fellow in Biochemistry (2015) 2015 Ewan Jones, BA, MPhil, PhD, Fellow in English, University lecturer in English (2015) June 30 Retirements and Resignations 1 July 2014–30 September 2015 Jonathan Trevor, BA (Glamorgan), MA (Warwick), PhD, Praelector, Fellow in Management Studies, University lecturer in Human Resources and Organisations (2008) (resigned 2015) Ended Year 7 the Honorary Fellows the Emeritus Fellows the Wilkins Fellows Bye-Fellows Giles Skey Brindley, MA (london), MD, FRS Alfred Thomas Grove, MA Julian Robin Darley, MA, FEng Nigel Allington, BSc (Hull) Fellows Sir Francis Graham Smith, MA, PhD, FRS David Andrew Blackadder, BSc (Edinburgh), Richard Alexander Frischmann, MA Annela Anger-Kraavi, MA, BSc (tallinn), MPhil, Sir Arnold Stanley Vincent Burgen, MA, FRS MA, DPhil (Oxon) Christian Flemming Heilmann, MA PhD Sir Alan Bowness, CBE, MA Ian Bonar Topping, MA Joanna Maitland Robinson Richard Berengarten, MA Other Dame Janet Abbott Baker, CH, DBE, Robert John Richards, MA, PhD Rumi Verjee, MA Jimena Berni, MS (UBA), PhD (UBA) | MusD (hon), llD (hon) Charles Harpum, MA, llB, llD tim Cadbury, MA Ian Bucklow, PhD Alan Norman Howard, MA, PhD, FRIC John Alan Hopkins, MA, llB Janet Owens, MD Marie Buda, BSc (Nottingham), PhD Peter Mathias, CBE, MA, Dlitt, FBA Martin Joshua Mays, MA, PhD Richard Williams, MA Daniel Brigham, MA (York) 2015 Sir Trevor Robert Nunn, CBE, BA Philip Huson Rubery, MA, PhD, ScD Jonathan Howard, MA Matthew Carter, BA Godfrey Michael Bradman, FCA Charles Porter Ellington, BA (Duke), MA, PhD, Chris Bartram, MA, FRICS, Andrew Cockburn, MSc, PhD June Colin Brian Blakemore MA, ScD, FRS FRS Maria Ferreras Willetts, MA (Oxon) Andrej Corovic, MA, MB, BChir Martin John Kemp, MA, FBA Margery Ann Barrand, BSc, PhD Robert John, MA, Dlitt (Swansea) George Couch, BA, BChir 30 Richard John Bowring, MA, PhD, littD Richard Smith BA (london), MA (Oxon), PhD, louise Arnell, MA Kate Crowe, BA David Stanley Ingram, OBE, MA, PhD, ScD, FBA Robert Markwick, MA, MBA (Manchester) Eloy De lera Acedo, MEng (Madrid), FRSE Stafford Withington, BEng (Bradford), James Edward Simon Arnell, MA, PhD (Madrid) Ended Sir Quentin Saxby Blake, CBE, MA, RDI, FCSD, PhD (Manchester) Gifford Combs, AB (Harvard), MPhil Eoin Devlin, BA (Dublin), PhD FRA Peter Duffett-Smith, MA, PhD Neda Farahi, BSc (Edinburgh), PhD Year Sir lawrence Antony Collins, llD, FBA