68
7. Reserve Fund
1990/91
HKD'000
1989/90 HKD'000
Balance brought forward
147,099
140,014
Less: Transfer to Other Specific Funds (Note 10)
Transfer to General Fund (Note 6)
(52,556)
(14,800)
(50,630)
94,543
74,584
Add: Transfer from General Fund (Note 6)
Balance carried forward
59,620
72,515
154,163
147,099
Section 22(2) of Part VI on Financial Provision and Reports of the Hong Kong Trade Development Council Ordinance requires disclosure of all unallocated balances and surpluses available for use during the year. The Reserve Fund at HKD154.16m represents all such surpluscs.
8. Exhibition Services Fund
1990/91 HKD'000
1989/90
HKD'000
Balance brought forward
during year (Note 2a)
8,802
2,088
Add: Income received and generated
18,232
9,269
27,034
11,357
Less: Expenses incurred during year
(8,945)
(2.555)
Balance carried forward
18.089
8,802
The fund is allocated for future replacement and purchase of operating assets and equipment.
9. Convention and Exhibition Centre Fund
1990/91
1989/90
HKD'000
HKD'000
during year
Balance brought forward
Add: Income received and generated
Less: Expenses incurred during year
13,082
13,137
11,844
10,726
24,926
23.863
(4,003)
(10,781)
20,923
13,082
Balance carried forward
In January 1984, the Council agreed to accept the Government's invitation to consider taking forward the Convention and Exhibition Centre Project. On 28 February 1985, the Government by Particulars and Conditions of Grant by private treaty granted Inland Lot. No. 8593 to the Council for a term of 75 years commencing on 19 February 1985 and at a Crown rent of HKD1,000 per annum.