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 41 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (s) Funds – Cont’d (ii) Restricted Funds – Cont’d (4) Capital Reserves C a p i t a l R e s e r v e s r e p r e s e n t s t h e r e i n s t a t eme n t o f n e t b o o k v a l u e o f l e a s e h o l d l a n d a n d b u i l d i n g s u p o n adoption of the HKFRS in 2004-05 and HKAS17 (Amendment) issued in May 2009 respectively and funds for the acquisition of land and buildings. The amounts are released from this reserve to appropriate funds in line with the related depreciation charged to the consolidated statement of comprehensive income. (iii) Other Funds Other Funds are funds other than UGC Funds and Restricted Funds. (t) Employee Benefits (i) Employee leave entitlements Emp l oyee en t i t l emen t s t o annua l l eave 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- administered funds. The pension plans are generally funded by payments from employees and by t he Gr oup t a k i ng accoun t o f t he recommendations of an independent qualified actuary. The Gr oup ’ s con t r i bu t i ons t o t he de f i ned 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. 主要會計政策－續 (s) 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 關資產在合併綜合收益表中 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。 (t) 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。 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 42 主要會計政策－續 (t) 僱員福利－續 (ii) 退休計劃責任－續 就界定福利計劃而言，在合併財務 狀況表內就有關設定受益退休金計 劃而確認的責任，為報告期末的設 定受益債務的現值減計劃資產的公 允價值。設定受益責任每年由獨立 精算師利用預計單位貸記法計算。 設定受益責任的現值利用將用以到 期日與有關的退休負債的年期近似 的外匯基金票據及政府債券之收益 率，將估計未來現金流出量貼現計 算。於損益表內僱員福利開支項下 確認之界定福利計劃之現有服務成 本（但如計入資產成本則除外）反映 由於僱員於現行年度提供之服務、 計劃福利變動、計劃縮減及結算時 引致之界定福利責任增加。根據經 驗而調整的精算利得和損失以及精 算假設的變動，在產生期間內透 過其他綜合收益在權益中扣除或貸 記。過往服務成本即時在收益表中 支銷。 (u) 資本承擔 重大基建項目合約之開支乃以應計基準 列賬，包括由合約規定之相應主管機構 所證明之已完成工程款項。在合併財務 報表中的附註 30 所概述之其他未履行合 約承擔並無入賬。 (v) 遞延資本基金 遞延資本基金指大學已收取及可收取的 特定用於購置物業、機器及設備或興建 校舍之款項。這資本基金按有關資產的 估計可用年期以直線法入賬於合併綜合 收益表。 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (t) Employee Benefits – Cont’d (ii) Retirement scheme obligations – Cont’d For defined benefit plans, the liability recognised in the consolidated statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent ac t ua r i es us i ng t he p r o j ec t ed un i t c r ed i t method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using the yield of Exchange Fund Notes and government bonds which have terms to maturity approximating the terms of the related pension obligation. The current service cost of the defined benefit plan, recognised in the profit or loss in employee benefit expense, except where included in the cost of an asset, reflects the increase in the defined benefit obligation results from employee service in the current year, benefit change, curtailments and settlements. Actuarial gains and losses arising from experience adjustments a n d c h a n g e s i n a c t u a r i a l a s s ump t i o n s are charged or credited to equity in other comprehensive income in the period in which they arise. Past service costs are recognised as an expense immediately. (u) Capital Commitments E x p e n d i t u r e o n ma j o r c o n t r a c t s f o r c a p i t a l projects is accounted for on an accruals basis and includes amounts of completed works certified by the respective authority under the contract. No provisions are made for other outstanding contract commitments as summarised in Note 30 to the consolidated financial statements. (v) Deferred Capital Funds Deferred Capital Funds represent funds received and receivable by the University but earmarked for the purchase of property, plant and equipment or construction of buildings. These funds are recognised as income to the University in the consolidated statement of comprehensive income on a straight- line basis over the estimated useful lives of the related assets.