The Review 2015

53 Land Holdings Sites Lot Area (in Hectares) Hong Kong Island Main Campus 17.0 Medical Campus 4.1 Other Sites on Pokfulam 22.5 New Territories Kadoorie Centre 9.6 All 53.3 Halls and Student Residences Number of Places Number Existing 6,500 Planned 1,474 SPACE Distribution of Space by Categories Based on Total Gross Covered Floor Area (as of June 2015) Category Gross Covered Floor Area (in sq. m.) % Academic Space 316,636 44.4% Central Libraries 44,104 6.2% Central Administration and Maintenance 27,938 3.9% Student and Staff Amenities 29,297 4.1% Sports Facilities 14,459 2.0% Student Halls of Residence and Staff Quarters 275,627 38.6% Others (Including HKU Museum and HKU Press) 5,741 0.8% All Categories 713,802 100% HKU SPACE Gross Covered Floor Area (as of June 2015) 44,819 sq. m. AN EXTRACT FROM THE UNIVERSITY’S ANNUAL ACCOUNTS 2014-15 Overview The financial year 2014-15 was the last year of the 2012-15 Triennium and also the third year of the new 4-year curriculum structure in Hong Kong. The Group’s consolidated financial results recorded a surplus of $1,239 million. It was largely attributable to stable income from government subventions, tuition and other regular sources of income, despite a fall in donations and investment income resulting from a more challenging investment environment globally. In preparing the consolidated financial statements, the Group has adopted certain new/revised Hong Kong Accounting Standards (HKAS) and Hong Kong Financial Reporting Standards (HKFRS) (Collectively HKFRSs) issued by the Hong Kong Institute of Certified Public Accountants which are effective and relevant to the Group’s operation. Results for the year The Group’s consolidated results for the year ended June 30, 2015 are summarised as follows: 8,738 (8,228) 669 1,179 59 1,238 1 1,239 2015 $ million Income Expenditure Interest and Investment Gain Surplus from Operations Share of Surplus of Joint Ventures Surplus for the year Other Comprehensive Income/(Loss) Total Comprehensive Income 9,231 (7,879) 1,150 2,502 33 2,535 (6) 2,529 2014 $ million The consolidated income for the year 2014-15 was $8,738 million, a decrease of $493 million as compared to last year. This was mainly due to a slow-down in donations following the completion of the Sixth Matching Grant Scheme introduced by the UGC. On consol idated expendi ture, a total of $8,228 mi l l ion was incurred for the year (2013-14: $7,879 million), of which $5,906 million (2013-14: $5,652 million) was spent on teaching/learning and research activities of the Group. If the total depreciation and amortisation charges of $419 million (2013-14: $387 million) were excluded, the expenditure incurred for the year was approximately 4.2 per cent higher than that of the previous year. Financial Outlook As the financial year 2014-15 ends, the University has entered into the roll-over year of the 2012-15 triennium before the next full triennial funding cycle starts again in 2016-19. For 2015-16, the roll-over arrangement will be a simple extension of the approved financial arrangements for the 2012-15 triennium. The University community continues to enjoy the state-of-the-art learning environment. There are however corresponding funding pressures to support the expanded infrastructure base and the enhancement and maintenance of existing facilities. In addition, the University will continue to make investments in information technology systems to support expanded teaching and learning, research and knowledge transfer and student activities. To support the many developments, the University shall remain prudent and yet be creative in managing its resources. It will continue to adopt financial strategy to fulfil its commitments and pursue aspirations, and would be cautious of the rapidly changing environment both locally and globally that could impact on the University. The Universi ty’s Annual Accounts can be found at ht tp: // www.hku.hk/finance/financial_report. Any correspondence or feedback on this extract or the accounts should be addressed to e-mai l: finance@fo.hku.hk. The Review 2015