Financial Report 2021

Notes to the Consolidated Financial Statements 合併財務報表附註 The University of Hong Kong 香港大學 39 主要會計政策－續 (q) 香港特區政府貸款 香港特區政府貸款乃用作資助全日制課 程。該貸款乃屬於政府補助按公平價值 並扣除產生的交易費用為初始確認。貸 款其後按攤消成本列賬；所得款（扣除 交易成本）與贖回價值的任何差額，利 用實際利率法於貸放期間內在合併綜合 收益表確認。 (r) 遞延收益 有指定用途的收益包括政府撥款、外界 捐助（除用以購置物業，機器及設備及 無形資產或在建工程之遞延資本基金 入賬）及有關的利息及投資收益乃按擬 補償之成本配合所需期間在合併綜合收 益表中記賬。而已收款項但並未確認為 收益則在合併財務狀況表列賬為遞延收 益。 (s) 資金 (i) 教資會資金 教資會資金包括一般及發展儲備基 金，及未動用之教資會配對補助金 及研究配對補助金。 (1) 一般及發展儲備基金 一般及發展儲備基金指本大 學未動用之可在期末結轉之 教資會基金。一般及發展儲 備基金於「三年撥款期」結束 時之結餘以大學獲核准之經 常性補助金（資助期間用於特 殊用途之指定補助金除外）之 百分之二十加減資助期間作 出之任何補充撥款╱調整（如 適宜）為限。倘一般及發展儲 備基金於「三年撥款期」結束 時之結餘超過資助期間之核 准上限，則超出部分應償還 予教資會。 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (q) Loans from the HKSAR Government Loans from the HKSAR Government are for financing f u l l t ime p r og r ammes . They a r e r ega r ded as government assistance and are recognised initially at fair value, net of transaction costs incurred. Loans are subsequently carried at amortised cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in the consolidated statement of comprehensive income over the period of the loans using the effective interest method. (r) Deferred Income Funds earmarked for specific purposes including g o v e r n m e n t s u b v e n t i o n s , d o n a t i o n s a n d benefactions (other than for purchase of property, plant and equipment and intangible assets or construction of buildings which are dealt with as Deferred Capital Funds), as well as interest and investment income arising from these funds are recognised in the consolidated statement of comprehensive income to the extent of the related expenditure incurred during the year. Funds received but not yet recognised as income are recorded as deferred income on the consolidated statement of financial position. (s) Funds (i) UGC Funds UGC Funds include General and Development Reserve Fund, and unspent balances of UGC Matching Grants and Research Matching Grants. (1) General and Development Reserve Fund The General and Development Reserve Fund (“GDRF”) represents the unspent UGC funds of the University which are allowed to be carried forward at the period end. The balance of the GDRF at the end of the triennium is limited to a maximum of 20% of the University’s approved recurrent grants other than the earmarked grants for specific purposes for that funding period ending plus or minus any supplementary grants/ adjustments made during the funding period as appropriate. Should the balance of the GDRF at the end of the triennium exceed the ceiling allowed for that funding period, the excess amount is refundable to the UGC. Notes to the Consolidated Financial Statements 合併財務報表附註 2021 Financial Report 二零二一財務報告 40 主要會計政策－續 (s) 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 二零年：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 貸款附載於合併財務狀況表 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。 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (s) 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 t he i nves tmen t i ncome o f t he Gene r a l 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 b a s i s i n r e l a t i o n t o t h e b l o c k g r a n t 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 S t a f f Hou s i ng Loan Fund r ep r e s en t s amounts as determined by the Council from time to time to provide housing assistance at an internal interest rate of 5% (2020: 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 t he ou t s t and i ng ba l ances a t t he yea r end are carried as loans receivable in the consolidated statement of financial position. Interest earned is recognised in the consolidated statement of comprehensive income and transferred to the Fund.