Submission from Economical and Social
A. The breakdown of the EYF stock has been
completed as requested. Amendments to the spreadsheet you provided,
as attached, include an adjustment to the 2004-05 outturn figure
and provisional 2005-06 figures. These figures are in line with
the projected outturn for 2005-06 reported as at December 2005.
B. The forecast application of EYF in 2005-06
is £1,466k. As planned this usage of EYF will meet Capital
Grant spend. It should be noted that Capital Grant spend also
uses a large transfer of funds from ESRC's capital allocation,
as previously agreed with OST. Within the overall balance of funds
management, the use of EYF does not require additional drawdown
of cash, and will be reflected in accrued expenditure at year
C. The Resource Allocation and Forecast
return for December 2005 is also enclosed. This return indicates
an underspend against budget for the year of £968k, and a
reduced utilisation of EYF in the year from £2,374k to the
£1,466k referred to in B above. The forecast underspend is
due to an unexpected level of slippage of strategic research investments
into later years. There is also some slippage in expenditure on
The separate variances in the forecast Resource
and Capital figures within the OST Report represent a virement
of £2,650k from Capital to Capital Grants. The balance is
represented by the forecast underspend for the year against budget
of £968k, referred to above.
D. Not applicable to ESRC.
E. 2004-05 is the first year that an EYF
figure for Resource Non Cash was shown as a separate item and
the figure of £510k represents an accumulated position since
2001-02. The figure at the end of 2004-05 is higher than anticipated
as implementation and subsequent capitalisation of the Information
Centre was delayed, resulting in a reduced level of depreciation
charged to 2004-05.
F. Not applicable to ESRC.