The Review 2014

THE REVIEW 2014 ⎜ 47 (Expressed in thousands of Hong Kong dollars) 2014 2013 Income Government Subventions ● Subventions from UGC: - Block Grants and Non-accountable Supplementary Grants 3,347,450 3,192,265 - Earmarked Grants 302,770 335,158 - Rates and Government Rent Refund 76,484 48,665 - Capital Grants and Alteration, Additions and Improvements (AA & I) Block Allocation 163,091 225,044 3,889,795 3,801,132 ● Matching Grants 94,530 565,439 ● Grants from Government Agencies and Related Organisations 185,257 135,311 4,169,582 4,501,882 Tuition, Programmes and Other Fees ● UGC-Funded Programmes 950,575 909,093 ● Non UGC-Funded Programmes 1,621,289 1,614,290 2,571,864 2,523,383 Donations and Benefactions 1,526,785 1,117,395 Auxiliary Services ● Residential Halls and Hostels 107,260 95,484 ● University Press 7,440 7,288 ● Rental Income and Rental Contribution from Staff 155,711 143,966 ● Clinics and Chinese Medicine Pharmacies 16,139 16,694 ● Others 13,661 15,508 300,211 278,940 Other Income ● Contract Research 117,142 103,043 ● Service Income 349,793 281,140 ● Outside Practice 85,293 67,053 ● Miscellaneous 110,831 118,950 663,059 570,186 9,231,501 8,991,786 Expenditure Learning and Research ● Instruction and Research 4,981,501 4,793,375 ● Library 208,795 205,175 ● Central Computing Facilities 184,133 168,177 ● Other Academic Services 277,774 258,345 5,652,203 5,425,072 Institutional Support ● Management and General 518,161 478,851 ● Premises and Related Expenses 1,071,709 1,058,505 ● Student and General Education Services 363,137 327,913 ● Other Activities 273,357 190,597 2,226,364 2,055,866 7,878,567 7,480,938 Interest and Investment Gain 1,149,781 780,814 Surplus from Operations 2,502,715 2,291,662 Share of Surplus of Joint Ventures 32,705 45,812 Surplus for the Year 2,535,420 2,337,474 Other Comprehensive (Loss)/Income Items that may be recognised in the Consolidated Statement of Comprehensive Income ● Exchange Differences (814) 2,771 ● Share of Changes in Fair Value of Available-for-Sale Investments of a Joint Venture 122 88 Items that will not be recognised subsequently in the Consolidated Statement of Comprehensive Income ● Re-measurement of Defined Benefit Retirement Scheme Assets (5,936) - (6,628) 2,859 Total Comprehensive Income for the Year 2,528,792 2,340,333 The University of Hong Kong Consolidated Statement of Comprehensive Income For the year ended June 30, 2014 (Expressed in thousands of Hong Kong dollars) 2014 2013 Assets Non-Current Assets Property, Plant and Equipment 8,136,943 8,105,804 Intangible Assets 42,584 30,990 Interest in Associates 662 662 Interest in Joint Ventures 152,180 119,471 Investments 11,358,198 9,221,882 Loans Receivable 5,310 6,769 Accounts Receivable and Prepayments 6,945 12,343 Defined Benefit Retirement Scheme Assets 9,437 16,938 19,712,259 17,514,859 Current Assets Investments 815,658 336,948 Loans Receivable 172,798 175,094 Inventories 5,229 6,809 Accounts Receivable and Prepayments 839,656 616,022 Amount Due from Joint Ventures 38,231 40,511 Loan to a Joint Venture - 2,201 Cash and Bank Deposits 6,770,144 6,619,399 8,641,716 7,796,984 Total Assets 28,353,975 25,311,843 Funds Deferred Capital Funds Equipment 51,696 52,920 Buildings 4,345,452 4,194,395 4,397,148 4,247,315 Restricted Funds General Endowment Fund 2,397,897 2,198,399 Investment Reserve 1,154,109 1,039,980 General Reserve 15,000 15,000 Staff Housing Loan Fund 98,382 98,111 Building Capitalisation Reserve 2,454,888 2,536,454 Capital Projects 62,966 53,024 Research Projects and Quality Assurance 212,544 209,410 6,395,786 6,150,378 Other Funds General and Development Reserve Fund 696,918 507,852 Matching Grants 1,637,311 1,512,140 Self-financing Activity Funds ● University 851,297 802,738 ● HKU SPACE 2,114,198 2,004,513 ● Other Subsidiaries 22,787 (46,839) 2,988,282 2,760,412 Donations and Benefactions 8,273,898 6,485,243 13,596,409 11,265,647 Total Funds 24,389,343 21,663,340 Liabilities Non-Current Liabilities Accounts Payable and Accruals 10,086 22,089 Employee Benefit Accruals 141,006 140,958 Loans and Borrowings 203,418 223,444 354,510 386,491 Current Liabilities Accounts Payable and Accruals 2,234,925 1,938,329 Amount Due to a Joint Venture 415 - Employee Benefit Accruals 634,271 587,133 Loans and Borrowings 122,738 124,643 Deferred Income ● Earmarked Grants 338,805 346,870 ● Capital Grants and AA & I Block Allocation 91,788 98,388 ● Others (Including Donations and Benefactions) 187,180 166,649 617,773 611,907 3,610,122 3,262,012 Total Liabilities 3,964,632 3,648,503 Total Funds and Liabilities 28,353,975 25,311,843 Net Current Assets 5,031,594 4,534,972 Total Assets Less Current Liabilities 24,743,853 22,049,831 The University of Hong Kong Consolidated Balance Sheet As at June 30, 2014