FINANCE 財務狀況

INCOME

Income dropped from $17.3m to $9.1m, a decrease of $8.2m. While recurrent income remained stable, donations dropped from $3.8m to $1.1m and interest and investment return decreased from $9.1m to $3.4m due to the volatile financial market, recording a drop of $5.7m.

收入 收入由 1,730萬元下降至 910萬元，減少 820萬元。書院 的經常性收入維持穩定水平，捐款收入則由去年的 380 萬元下降至 110 萬元。由於金融市場波動，利息及 淨投資增益由去年的 910 萬元下降至 340萬元，較去年 減少570萬元。

EXPENDITURE

Expenditure rose by 31.4% over the past year, from $10.7m to $14.0m. The increase of $3.3m was mainly due to funds spent on the enhancement of human resources and to support College fundraising and friendraising initiatives.

支出 支出總額由去年的 1,070萬元上升至 1,400萬元，增幅為 百分之三十一點四。增加的支出主要用於提升人力資源 及支持書院推行新的籌款計劃及建立人脈網絡的活動。

COLLEGE INCOME 書院收入

2018-19 Total 總額

37% 6%

45%

12%

COLLEGE EXPENDITURE 書院開支

2018-19 Total 總額

83% 11.2% 1.5% 0.8% 1.8% 1.7%

HK$9,100,000

Government Subvention 政府資助 Donations and Matching Grants Received 捐贈及配對補助金 Interest and Net Investment Income 利息及淨投資增益 Other Income 其他收入

HK$14,000,000

College Operation 書院營運開支 Scholarships and Financial Aid 獎學金及資助 Exhange Programmes 交流計劃 College Life Activities 書院生活活動 General Education Programmes 通識教育課程 Distinguished Visitors Programme 傑出訪問學者項目

INVESTMENT POLICY AND PERFORMANCE

The College’s primary objective when managing capital remains the same as in years past: to safeguard the College’s ability to continue as a going concern and to maintain a strong financial base to support the development of the College. To this end, the College invested in financial instruments which include funds held by the University that are managed in accordance with relevant financial management policies and practices.

There was no significant change in the total endowed capital. The decrease in total funds from $129.3m to $124.4m, representing a net decrease of $4.9m (or 3.8%), was mainly due to the deficit in College Operation in 2018-19, i.e. the difference between income of $9.1m and expenditure of $14.0m.

投資政策及表現 書院的主要理財目標是確保書院可持續營辦，並建構穩健 的財務基礎以支持往後的發展。故此，書院投資的基金均 符合大學的金融管理政策及常規，其中包括大學所持有的 基金。

本年度的留本基金金額與去年相若。基金總額則由 1.293億 元減少至 1.244億元，主要是由於書院在 2018–19 年度的營 運錄得赤字，即 910 萬元收入及 1,400萬元支出的差額，其 淨跌幅為 490萬元（即百分之三點八）。

Summary of College Operation and Scholarships Funds Balance as of 30 June 2019 (i) 書院營運及獎學金摘要（截至2019年6月30日止）(i)

College Operation 書院營運 Scholarships 獎學金 HK$ (thousands) 以千港元計 RESTRICTED FUNDS 專用基金 Endowed Funds 留本基金 107,987 9,351 117,338 Other Restricted Funds 其他專用基金 – 896 896 Capital Fund 資產基金 422 – 422 OTHER FUNDS 其他基金 Operating Reserves 營運儲備 (ii) 5,716 – 5,716 Total Funds 基金總額 124,372

(i) Hostel funds and provision costs are excluded. 不包括宿舍基金撥備。 (ii) Operating reserves from government subvention are included. 包括政府資助的營運儲備。

THE IMMEDIATE FUTURE

The College has devised fundraising and friendraising initiatives with a view to providing a good foundation for raising funds to support: the creation of in-college programmes and activities to prepare our students for postgraduate studies, scholarships and financial aid, and College operations generally. The current political climate makes fundraising particularly difficult at present but the College considers that it is appropriate to continue to lay the ground for the future. At the same time, the College expenditure will be kept under increased review in light of the unpredictable investment climate and current political situation.

前瞻 書院已制訂嶄新的計劃推動籌款及建立人脈網絡，為籌募 經費打好基礎，從而推展嶄新的書院活動來協助有志繼續 深造的同學作好準備、設立獎助學金幫助有需要的同學， 以及應付一般營運開支的需要。當前的政治氣氛令籌款工 作倍見困難，然而書院仍有需要為未來作好準備。鑑於投 資市場走向難以預測及當前的社會局勢，書院將會密切審 視開支。