MEDICAL RESEARCH COUNCIL PROVIDES THE FOLLOWING EXPLANATION

  The template has been completed and is included in the attachment. It differs from the November 2005 summary because that summary did not cast.1,439 on the final line should read 1,821.

  MRC will be using the 2004-05 EYF in 2005-06 and anticipate it taking a further two to three years before it is exhausted.

  The statement submitted to OST in January, for the 9 months to December 2005, is included in the attachment.

  The projected numbers included therein incorporate and account for all expected anomalies.

  MRC has reviewed its files but can find no explanation for the budget excess relating to non-cash resource.

  A table showing non-cash budget and out-turns is included in the attachment.MRC can find no evidence of a budget figure for 2002-03.

March 2006