Financial Report 2019

Notes to the Consolidated Financial Statements 合併財務報表附註 The University of Hong Kong 香港大學 43 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (t) Funds – Cont’d (ii) Restricted Funds Restricted Funds are funds held by the Group, whether generated by it or otherwise, designated to fund specific expenditure of the institution in the future. (1) General Endowment Fund The General Endowment Fund represents a capital fund which is being invested for the long-term and the income generated will be used to support recurrent expenditure of the University and to preserve the real value of the capital fund. The UGC takes the investment income of the General Endowment Fund into account as part of the assumed income of the University in determining the triennial block grant allocation to the University. The Fund is for the discretionary use of the University on non-Block Grant financed activities. (2) General Reserve The General Reserve is fixed on a triennial basis in relation to the block grant announced by the UGC, the triennial budget forecast and the University’s requirements to provide a source of funds for initiatives instituted by the University from time to time which may require extra-budgetary finance. Adjustments to the reserve are made by transfer to or from the General Endowment Fund. (3) Staff Housing Loan Fund Staff Housing Loan Fund represents amounts as determined by the Council from time to time to provide housing assistance at an internal interest rate of 5% (2018: 5%) per annum to the University’s full-time staff on Terms of Service II for their purchase of not more than one house or flat at any one time in Hong Kong solely for their own occupancy. Such loans awarded are secured by the related property and the outstanding balances at the year end are carried as loans receivable in the statement of financial position. Interest earned is recognised in the consolidated statement of comprehensive income and transferred to the Fund. 1. 主要會計政策－續 (t) 資金－續 (ii) 限制性資金 限制性資金是本機構持有的資 金，不論其產生方式，指定作 本機構未來的特定開支。 (1) 一般留本基金 一般留本基金是一項資本 基金投放於長期投資項目 中，而其產生的投資收益 則用以支持大學的經常支 出及保存資本基金的實際 價值。教資會在決定分配 三年整體補助金給與大學 時，會將一般留本基金的 投資收入亦計算於大學的 假設收入內。大學有權使 用這一般留本基金於一些 非整體撥款資助的項目。 (2) 一般儲備金 一般儲備金乃根據教資會 宣佈的整體撥款、三年預 算案和大學的需求而按三 年期釐定，以提供一個財 政資源支持大學不斷倡導 而又可能需要額外預算經 費推行的項目。本儲備金 的調整主要轉賬自或轉至 一般留本基金。 (3) 教職員住屋貸款 教職員住屋貸款的基金總 額水平是由校務委員會決 定。該基金向大學的全職 從屬員工提供年利率百分 之五（二零一八年：百分之 五）的貸款以協助從屬員工 在香港同一時間內購置不 多過一間的自用居所。貸 款人需要提供相關的物業 以作抵押，而在年末的未 償還餘額則作為應收貸款 附載於財務狀況表中。已 獲利息確認於合併綜合收 益表中為收入及轉賬至這 基金。 Notes to the Consolidated Financial Statements 合併財務報表附註 2019 Financial Report 二零一九財務報告 44 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (t) Funds – Cont’d (ii) Restricted Funds – Cont’d (4) Capital Reserves Capital Reserves represents the reinstatement of ne t book va l ue of l easeho l d l and and buildings upon adoption of the HKFRS in 2004- 05 and HKAS17 (Amendment) issued in May 2009 respectively and funds for the acquisition o f l and and bu i l d i ngs . The amoun t s a r e released from this reserve to appropriate funds in line with the related depreciation charged to the statement of comprehensive income. (iii) Other Funds Other Funds are funds other than UGC Funds and Restricted Funds. (u) Employee Benefits (i) Employee leave entitlements Emp l o y e e e n t i t l eme n t s t o a n n u a l l e a v e i s recognised as it accrues to employees. An accrual is made for unutilised leave as a result of services rendered by employees up to the statement of financial position date. Employee entitlements to sick leave or maternity leave are not recognised until the time of leave. (ii) Retirement scheme obligations The Group operates a number of defined benefit and defined contribution plans in Hong Kong, the assets of which are held in separate trustee- admi n i s t e r ed f unds . The pens i on p l ans a r e generally funded by payments from employees a n d b y t h e G r o u p t a k i n g a c c o u n t o f t h e recommendations of an independent qualified actuary. T h e G r o u p ’ s c o n t r i b u t i o n s t o t h e d e f i n e d contribution plans are recognised as staff cost expense when they are due and are not reduced by contributions forfeited by those employees who leave the scheme prior to vesting fully in the contributions. The Group has no further payment obligations once the contributions have been paid. 1. 主要會計政策－續 (t) 資金－續 (ii) 限制性資金－續 (4) 資本儲備金 大學於二零零四╱零五年 採納了香港財務報告準 則，其後採納了二零零九 年五月發行的香港會計準 則第 17 號（修訂），因而產 生了資本儲備金，用作恢 復記錄土地及校舍的賬面 淨值，並包括用於購置校 舍之款項。此儲備金轉至 適當資金的金額是與相關 資產在綜合收益表中的折 舊是一致的。 (iii) 其他資金 其他資金是教資會資金和限制 性資金以外的資金。 (u) 僱員福利 (i) 僱員應享假期 僱員應享年假於確定為屬於僱 員時確認。本機構為截至結算 日止僱員已提供之服務而產生 之未動用年假作出撥備。僱員 應享之病假或產假在放假時才 被確認。 (ii) 退休計劃責任 本大學在香港營運多項界定福 利及界定供款計劃，該等計劃 之資產由獨立信託管理基金持 有。退休金計劃在考慮獨立合 資格精算師之建議後一般由僱 員及本機構共同供款。 本機構向界定供款退休計劃作 出之供款於應付時作為員工成 本費用支銷，而員工在全數取 得既得之利益前退出計劃而被 沒收之僱主供款不會用作扣減 此供款。本機構作出供款後， 即無進一步付款責任。