Annual Report 1993-94

本校針對校內外環境的改變，已檢討及修改財政管理方法。新推行的財政預算案及 內部審核機制，便是順應權力下放後各學院、學系的需要，並爲一九九五年實施的新資 源分配方法鋪路。屆時學院及學系將在資源運用上有更大的自主權，當然亦須承擔較大 的財政責任。 Accounts for 1993-94 show that the finances of the University and its colleges are in a healthy state, and that there has been a substantial increase in both income and expenditure over the 1992-93 figures. On the expenditure side, a substantial portion of the increase was due to inflation. Other factors include a much larger student body and staff establishment, and an increased number of academic programmes. A marked rise in research expenditure is indicative not only of vigorous research activities on campus but also of the University's resourcefulness in tapping new revenue sources for the purpose. On another front, the amount spent on new buildings and equipment continued to rise, and in the year under review, the bulk of capital expenditure was used on new buildings on Chung Chi campus, which underwent a major redevelopment. On the income side, the University has always relied on government funding to meet its obligations' but the rise in student fees means that in future more income can be derived from this source. The operating surplus for the year is HK$176,758,000, all of which w i ll be carried forward to 1994-95 to finance expenditure in several non-recurring areas. No university can rely entirely on government grants and student fee income to meet its expenditure, and it is therefore particularly heartening to note a substantial increase in endowments and donations in 1993-94. The University is very grateful to all those who have helped, and as a gesture of appreciation, major donations of HK$500,000 or above are separately listed in this report. Financial administration of the University was revised during the year in anticipation of changing needs and circumstances. New budgetary and internal audit mechanisms were introduced to complement the decentralization of University functions to faculties and departments, and to pave the way for the implementation of the one-line budget in 1995. Consequently, the faculties and departments w i ll have greater say in the deployment of resources and, along with this, greater financial responsibility and accountability.