Auditor Report
Balance Sheet
Income & Expenditure
Statement of Cash Flow
Statement of Changes
Notes
|
Income and Expenditure Account for the year ended 31 March 2004
| |
|
General Fund |
Other Funds |
Total |
| |
|
Year Ended 2003/04 |
1.8.02
to
31.3.03 |
Year Ended 2003/04 |
1.8.02
to
31.3.03 |
Year Ended 2003/04 |
1.8.02
to
31.3.03 |
| |
Notes |
$ |
$ |
$ |
$ |
$ |
$ |
| |
|
|
|
|
|
|
|
| OPERATING INCOME |
|
|
|
|
|
|
|
| Student Fees |
|
1,631,470 |
- |
- |
- |
1,631,470 |
- |
| Donations |
|
15,000 |
- |
165,400 |
- |
180,400 |
- |
| Other Income |
|
184,960
|
14,994 |
- |
- |
184,960 |
14,994 |
| |
|
1,831,430 |
14,994 |
165,400 |
- |
1,996,830 |
14,994 |
| |
|
|
|
|
|
|
|
| OPERATING EXPENDITURE |
|
|
|
|
|
|
| Salaries, CPF & staff benefits |
10 |
9,710,313 |
3,920,450 |
- |
- |
9,710,313 |
3,920,450 |
| Depreciation |
5 |
7,110,279 |
91,463 |
- |
- |
7,110,279 |
91,463 |
| Repairs, Maintenance and Utilities |
|
843,726 |
64,388 |
- |
- |
843,726 |
64,388 |
| Pre-establishment Expenses |
|
- |
1,500,269 |
- |
- |
- |
1,500,269 |
| Fixed Assets Expensed Off |
|
3,252,422 |
552,190 |
- |
- |
3,252,422 |
552,190 |
| Travelling and Communication |
|
313,653 |
97,236 |
- |
- |
313,653 |
97,236 |
| Student Welfare & CCA activities |
|
172,204 |
- |
126,900 |
- |
299,104 |
- |
| Teaching Materials and Laboratory Supplies |
|
2,135,765 |
1,089,572 |
- |
- |
2,135,765 |
1,089,572 |
| Public Relations and Publicity |
|
305,514 |
294,014 |
- |
- |
305,514 |
294,014 |
| Consultancy, legal & other professional services |
|
928,665 |
329,124 |
- |
- |
928,665 |
329,124 |
| Office Supplies, Stationery and Periodicals |
|
150,775 |
128,297 |
- |
- |
150,775 |
128,297 |
| Rental |
|
2,239,316 |
1,563,425 |
- |
- |
2,239,316 |
1,563,425 |
| Other Expenditure |
|
73,937 |
41,742 |
5 |
- |
73,942 |
41,742 |
| |
|
27,236,569 |
9,672,170 |
126,905 |
- |
27,363,474 |
9,672,170 |
| |
|
|
|
|
|
|
| OPERATING (DEFICIT)/SURPLUS |
|
(25,405,139) |
(9,657,176) |
38,495 |
- |
(25,366,644) |
(9,657,176) |
| |
|
|
|
|
|
|
|
| NON-OPERATING INCOME |
|
|
|
|
|
|
|
| Interest |
|
13,389 |
3,866 |
130 |
- |
13,519 |
3,866 |
| |
|
|
|
|
|
|
|
| (DEFICIT)/SURPLUS BEFORE GRANTS |
|
(25,391,750) |
(9,653,310) |
38,625 |
- |
(25,353,125) |
(9,653,310) |
| |
|
|
|
|
|
|
|
| GRANTS |
|
|
|
|
|
|
|
| Deferred Capital Grants Amortised: |
|
|
|
|
|
|
|
| Government |
3 |
12,045,241 |
3,217,009 |
- |
- |
12,045,241 |
3,217,009 |
| Non-Government |
3 |
56,910 |
- |
- |
- |
56,910 |
- |
| Operating Grants |
|
|
|
|
|
- |
- |
| Government |
9 |
16,310,708 |
6,570,762 |
- |
- |
16,310,708 |
6,570,762 |
| |
|
28,412,859
|
9,787,771 |
- |
- |
28,412,859 |
9,787,771 |
| SURPLUS FOR THE YEAR |
|
3,021,109 |
134,461 |
38,625 |
- |
3,059,734 |
134,461 |
The accounting policies and explanatory notes form an integral part of the financial statements.
|
