KCHC-AR-2023 Final Signed - Flipbook - Page 63
Notes to the financial statements
Donations and legacies are allocated to designated
funds where the donor has given an indication that
they wish the funds to be used for a particular purpose.
There are over 230 clinical designated funds held by
the Charity for different medical specialties and service
areas within the hospital. The value of the individual
funds range from under £1,000 to over £800,000.
At 31 March 2023, £3.5m (2022: £6.9m) was held in
a designated fund for strategic grants. The value is
equivalent to the projected level planned to be invested
in strategic projects over the three year period of the
Charity’s strategy
In addition, a fund of £1m (2022: £1m) has been set
aside for pump priming major capital projects.
During the year, the Charity transferred £3.4m from
Designated Funds to Unrestricted general funds
with the aim of ensuring that the reserves were in
compliance with the revised free reserves policy.
3 Analysis of income
3.1. Income from donations and legacies
Year ended 31 March 2023
Unrestricted Restricted Endowment
funds
funds
funds
£’000
£’000
£’000
Total
£’000
Year ended 31 March 2022
Unrestricted Restricted
funds
funds
£’000
£’000
Total
£’000
Donations
Over £10,000
406
199
-
605
531
254
785
Under £10,000
943
32
-
975
957
25
982
1,349
231
-
1,580
1,488
279
1,767
Donations in kind
110
-
-
110
26
-
26
Legacies &
endowments
497
571
100
1,168
1,289
1
1,290
1,956
802
100
2,858
2,803
280
3,083
Total
3.2. Investment income
Year ended 31 March 2023
Unrestricted
funds
£’000
Restricted Endowment
funds
funds
£’000
£’000
Year ended 31 March 2022
Total
£’000
Unrestricted
funds
£’000
Restricted
funds
£’000
Total
£’000
Equities
592
-
-
592
494
-
494
Fixed income
165
-
-
165
31
-
31
757
-
-
757
525
-
525
Although no investment income has been allocated directly to the restricted fund, as stated in Note 2.1, transfers
between funds (shown in Note 2.1) include an allocation equivalent to interest from the general fund to the
designated and restricted funds.
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