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APPENDIX III
THE HONG KONG HOUSING AUTHORITY
BALANCE SHEET AS AT 31ST MARCH, 1961
1960
1960
$
265,110
GENERAL REVENUE RESERVE
Balance at 31st March, 1960
CAPITAL EXPENDITURE
$
218,481
Amount transferred from General Working
Account
979,655
2,121,884
90,523 INSURANCE FUND
PROVISION FOR AMORTIZATION OF CAPITAL EXPENDI-
TURE ON HOUSING ESTATES-per Schedule I GRANTS RECEIVED FROM THE COLONIAL DEVELOP- MENT AND Welfare FUND TOWARDS THE COST OF HOUSING ESTATES-per Schedule I
HONG KONg Government Loan
483,590.41
987,540.51 $1,471,130.92 164,723.42
$61,970,327
98,293 $62,068,620
Housing Estates—at cost per Schedule I Furniture and Equipment—at cost less
depreciation
$83,768,961.61
96,483.49
$83,865,445.10
16,120
SITE INVEStigation Expenses
2,635.51
1,557,878.00
CURRENT ASSETS
6,636
...
2,156,158.51
++
UNALLOCATED CAPITAL EXPENDITURE
Sundry Debtors and Prepaid
Expenses
63,431.30
39,445
Cash at Bank and in Hand
+++
$19,783.97 3,807.20
23,591.17
At 33% per
45,000,000
annum
At 5% per
11,589,417
annum
+
Authorized
Utilized
$ 45,000,000.00 $45,000,000.00
111,000,000.00
$156,000,000.00
30,668,157.29
75,668,157.29
14,115
Charges
957,440
Retention Money on Contracts
352,562
Tenants' Deposits
CURRENT LIABILITIES AND PROVISIONS
Sundry Creditors and Accrued
$ 228,627.35 1,351,824.81
588,521.00
512,034 29,600
Provision for Repairs and
Maintenance
718,081.78
Provision for Bad Debts
$62,130,821
50.000.00 2,937,054.94
$83,955,103.08 $62,130,821
Notes: 1. Provision for Amortization of Capital Expenditure is calculated by reference to a forty-year period from the time each Estate, or Section thereof, comes into operation.
2. Commitments at 31st March, 1961 in respect of Capital Expenditure were esti- mated at $32,500,000.
K. S. KINGHORN, 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 is properly drawn up so as to exhibit a true and correct view of the state of the Authority's affairs at 31st March, 1961, according to the best of our information and the explanations given to us and as shown by the books of the Authority,
PEAT, MARWICK, MITCHELL & Co.
Chartered Accountants, Auditors.
Hong Kong, 31st July, 1961.
$83,955,103.08