27
APPENDIX IV
THE HONG KONG HOUSING AUTHORITY
BALANCE SHEET AS AT 31ST MARCH, 1959
1958
1958
GENERAL REVENUE RESERVE
111,398 AMOUNTS Set Aside for AMORTIZATION OF LOANS...
4,850 INSURANCE FUND
265,109.83 538,353.39 20,063.74
$36,545,785 FIXED ASSETS- as per Schedule I
SITE INVESTIGATION EXPENSES
376,204 UNALLOCATED ADMINISTRATION EXPENSES
$48,703,307.30 44,308.52 357,898.78
HONG KONG Government LOANS
CURRENT ASSETS
35,168,842 468,648
31% Loan
31% Loan
Authorized Utilized $45,000,000 $45,000,000.00
46,500,000
50,581
Sundry Debtors
2,375,000.00
131,098
$181,679
Cash at Bank and in Hand
$ 3,873.74 22,669.97
26,543.71
$35,637,490
$91,500,000
47,375,000.00
CURRENT LIABILITIES AND PROVISIONS
Sundry Creditors and Accrued
Charges
11
NORTH POINT ESTATE WORKING ACCOUNT
$255,575 Debit Balance
33,003
$ 48,001.93
1,252,960
Retention Money on Contracts
360,331.35
251,100
Tenants' Deposits
343,387.00
68,442
Provision for Repairs and
Maintenance
281,811.07
$1,605,505
933,531.35
Notes:
1.
Commitments in respect of Capital Expenditure at 31st March, 1959 were estimated at:
$37,359,243
2.
North Point Estate
Sai Wan Chuen Estate
So Uk Estate
$
2,400
203,598
48,277.560
$48,483,558
The Crown Leases relating to the Authority's land have not yet been issued by the Land Office.
$49,132,058.31
$37,359,243
C. G. M. MORRISON, Chairman, Housing Authority.
REPORT OF THE AUDITORS TO THE MEMBERS OF THE HONG KONG HOUSING AUTHORITY
We have examined the above Balance Sheet and have obtained all the information and explanations we have required. In our opinion, the Balance Sheet with the notes thereon is properly drawn up so as to exhibit a true and correct view of the state of the Authority's affairs at 31st March, 1959, according to the best of our information and the explanations given to us and as shown by the books of the Authority.
Hong Kong, 14th January, 1960.
PEAT, MARWICK, MITCHELL & Co., Chartered Accountants, Auditors.
$49,132,058.31