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The HONG KONG INSTITUTE OF SURVEYORSDIRECTORY & ANNUAL REPORT 2004/2005
43
President’s Report
Accounts andFinancial Statements
Accounts andFinancial Statements
The HONG KONG INSTITUTE OF SURVEYORSDIRECTORY & ANNUAL REPORT 2004/2005
44
Accounts and Financial Statem
ents
ReportTreasurer’sTreasurer’s
Report
For year ending 31 July 2005
As at 31 July 2005, the Institute recorded a closing balance of HK$9,844,974 as shown in the AuditAccounts. A deficit of HK$2,164,711 has been recorded as compared with the opening balance ofHK$12,009,685. The deficit was as expected in accordance with the budget and was mainly due to thefollowing non-recurrent expenditure and reduction in the projected income.
Alteration works for the expansion of the Administration Office and the library HK$1,356,660Replacement and enhancement of office equipment and computers HK$195,610Consultancy Fee and contribution to Professional Services Development Assistance Scheme HK$206,000Reduction in members entrance & subscription fee HK$412,098Redemption of HKIS CPD Coupons HK$111,500
On the divisional and Junior Organization’s accounts, there is a total of HK$1,615,114 accumulated fundsas follows:–
The Council has made every possible effort to control the recurrent expenses in printing, stationery, postageand courier services with some marginal savings of HK$280,668. At the same time, the Council alsoexplored opportunities to generate revenue from time to time. An increase of HK$125,843 in the interestincome has been recorded this year. Recent revision of the rate for advertisement in our Surveyors Times isanother measure to generate income and to reduce the production cost. In the coming financial years, theanticipated major commitments which will affect our account would be:–
Projected cash flow in 2006 (advances) for the FIG Working Week 2007 HK$0.32MAnticipated increase of rental for the Administration Office and Surveyors Learning Centre in year 2007 HK$2.27M
In general, I consider that the financial position of the Institute is healthy. But it is prudent to guard our reservefor meeting the possible future expenses and the continuous development of the Institute. Therefore, I proposeto increase our annual subscriptions in year 2006. I would emphasize that we have not made any increasesince 1998 and would like to urge you to give the proposal your support.
Finally, it is my pleasure to serve the Institute and its members as the Honorary Treasurer for the past year andI would like to record my thanks to every member of the General Council for their support and the hardworkingstaff of the Administration Office throughout the year.
L.W. LAMHonorary Treasurer2004/2005
Building Surveying Division HK$144,777General Practice Division HK$287,761Land Surveying Division HK$37,289Planning and Development Division HK$7,120
Property and Facility Management Division (HK$2,495)Quantity Surveying Division HK$653,210Junior Organization HK$487,452
The HONG KONG INSTITUTE OF SURVEYORSDIRECTORY & ANNUAL REPORT 2004/2005
45
Accounts and Financial Statem
ents
THE HONG KONG INSTITUTE OF SURVEYORS�� !"#$BALANCE SHEET AS AT 31 JULY 2005
The HONG KONG INSTITUTE OF SURVEYORSDIRECTORY & ANNUAL REPORT 2004/2005
46
Accounts and Financial Statem
ents
THE HONG KONG INSTITUTE OF SURVEYORS�� !"#$INCOME AND EXPENDITURE ACCOUNTFOR THE YEAR ENDED 31 JULY 2005
THE HONG KONG INSTITUTE OF SURVEYORS�� !"#$DETAILED INCOME AND EXPENDITURE ACCOUNTYEAR ENDED 31 JULY 2005(For management information purpose only)
The HONG KONG INSTITUTE OF SURVEYORSDIRECTORY & ANNUAL REPORT 2004/2005
47
Accounts and Financial Statem
ents
THE HONG KONG INSTITUTE OF SURVEYORS�� !"#$STATEMENT OF GENERAL AND ADMINISTRATIVE EXPENSESYEAR ENDED 31 JULY 2005(For management information purpose only) Schedule 1
