Space Distribution of Space by Categories Based on Total Gross Covered Floor Area (as of June 2020) Land Holdings (as of June 2020) Halls and Student Residences (as of June 2020) Category Gross Covered Floor Area (in sq. m.) % Academic Space 311,19 1 43.8% Central Libraries 44,733 6.3% Central Administration and Maintenance 27,838 3.9% Student and Staff Amenities 29,865 4.2% Sports Facilities 14,441 2.0% Student Halls of Residence and Staff Quarters 275,627 38.8% Others (Including HKU Museum and HKU Press) 6,554 0.9% All Categories 710,249 100% HKU SPACE Gross Covered Floor Area (as of June 2020) 40,553 sq. m. Site Lot Area (in Hectares) Hong Kong Island Main Campus 17.7 Medical Campus 4.2 Other Sites on Pokfulam 23.2 New Territories Kadoorie Centre 9.6 All 54.7 Number of Places Number Existing 6,500 Planned 2,450 2020 HK$ million 2019 HK$ million Income 12,514 10,670 Expenditure (11,092) (10,279) Surplus from Operations 1,422 391 Share of Surplus of Joint Ventures and Associates 12 11 Gain on Disposal of Asset Held for Sale - 282 Surplus for the Year 1,434 684 Other Comprehensive Loss (7) (7) Total Comprehensive Income 1,427 677 THE REVIEW2020 THE UNIVERSITY PROFILE AN EXTRACT FROM THE UNIVERSITY’S ANNUAL ACCOUNTS 2019–20 The financial year 2019–20 was the first year of the 2019–22 triennium. Hong Kong faced great challenges this year with social unrest locally and the COVID-19 pandemic globally. The University has adopted extraordinary measures to maintain a safe and healthy environment on campus. To maintain social distancing, the University has offered a hybrid mode with teaching and learning online and face-to-face interactions. The Group has demonstrated its commitment to provide world-class education and research and delivered the impact through internationalisation, innovation and interdisciplinarity. A surplus of HK$1,427 million was recorded in the Group’s consolidated financial results, notably the result of the government matching scheme for generous donations from the community. In preparing the consolidated financial statements, the Group has adopted certain new / revised Hong Kong Financial Reporting Standards (HKFRS) issued by the Hong Kong Institute of Certified Public Accountants which are relevant and applicable to the Group’s operation and comply with the Statement of Recommended Practice for the University Grants Committee (UGC)-Funded Institutions. As the financial year 2019–20 ends, the University has entered into the second year of the 2019–22 triennium. The University will continue to build community partnerships and rally support while re-aligning resources to gain efficiency in pursuit of excellence in education. Looking ahead, the University is excited to embark on a number of capital projects. The Tech Landmark development at the University Drive for building an innovative science and engineering hub of research and technology, as well as the development of the Pokfield Road site will generate an iconic academic, cultural and sports facilities complex. In addition, state-of-the-art research and learning facilities will be provided by the Institute of Advanced Dentistry, the student hostel, and other major projects, including investment in infrastructure on enabling online teaching and learning with various institutional pedagogical support. The University of Hong Kong is prepared to make substantial and long-term investments in human resources, infrastructure and technology upgrades for the pursuit of the University’s education mission. The achievement of these missions would rely on philanthropy support. Two Government Matching Grant Schemes have been launched in July 2019 and August 2019, respectively, providing good opportunities to help the University secure additional funding for its work. Amidst all the challenging opportunities, the University shall maintain a conservative, yet creative and flexible profile in financial management. We will continue to build on our successes to raise the University to the next level of fulfilling our commitments to be Asia’s leading global university. The University’s Annual Accounts can be found atwww.feo.hku.hk/finance/ . Any correspondence or feedback on this extract or the accounts should be emailed to finance-mail@hku.hk . The Group’s consolidated results for the year ended June 30, 2020 are summarised as follows: The consolidated income for the year 2019–20 was HK$12,514 million, an increase of HK$1,844 million from last year. This was mainly due to increase in matching grant from the UGC as well as donations and benefactions received during the year. The consolidated expenditure increased by 8% to HK$11,092 million (2018–19: HK$10,279 million), of which HK$8,056 million (2018–19: HK$7,504 million) was expended on the Group’s teaching, learning and research activities. Overview Financial Outlook Results for the Year 44 | 45
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