Sir Siu-kin TANG Bequest
Estimated Cash Flow
Appendix IV
Assumptions
(2)
(3)
Academic Year
Opening balance
this
£
91/92
1,708,000
135,000
Interests continue to accrue at the current rate of 10.375% p.a.
Half of the additional provision required under the UK/IK Scholarships Scheme to be met from UK sources * FCO SAS's contribution to remain at £40,000 p.a. and the balance to be paid out of the Sir S.K. Tang Bequest.
The principal and accrued interests of the Sir S.K. Tang Bequest stand at £1.708 million (approx.) as at 1.9.91.
Expenditure on the UK/HK Scholarships Scheme in the year
to be met from the Bequest*
But is
100% of 70% of
£
Remaining balance at the end of the year
Interest accrued
£
£
163,000
1,736,000
92/93
1,736,000
the Bequest 164,000
163,000
1,735,000
93/94
1,735,000
ų
183,000
161,000
1,713,000
94/95
1,713,000
171,000
160,000
1,702,000
95/96
1,702,000
190,000
157,000
1,669,000
*
Current commitments to the Scheme is up to £85,000 p.a. only