Your article on funding for specialist institutions ("Special treatment", 28 February) states that the Royal College of Art had a deficit of 拢1.1 million in the last financial year. This excludes pension transactions and entries related to the depreciation of buildings. Our published financial statements show a surplus of 拢998,000 for the year, of which 拢240,000 arises on the college's operations and 拢758,000 through movements on the pension scheme.
Nick Cattermole, Director of finance, Royal College of Art.
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