# HON. TREASURER'S REPORT FOR 1977
The Accounts before you have again been kindly audited by Messrs. Wong Tan & Co., and show that the Society is in a reasonably healthy financial position.
The Income and Expenditure account shows that the Society incurred a small deficit in the year amounting to HK$2,808, compared to a similar one of HK$2,962 in the previous year. Members will note that just under half of the society's income comes from Annual Memberships, the rest being made up from life memberships, sale of publications, Bank interest and dividends received. I would like to ask members to encourage their friends to join the Society to improve the annual membership income. This will become increasingly important in the years ahead due to the renting of space in the Hong Kong Arts Centre for the Library and the Secretarial Office, which together will cost HK$5,500 p.a. It is hoped that an increase in annual membership will come about as a result of the Society's activities becoming more well known through the Arts Centre, but members are also asked to assist in this direction. Increased Annual Membership income will also encourage the Society to publish more symposiums to add to its now very respectable collection.
The Balance Sheet indicates that the Quoted Investments are continuing to hold up well and show a market value appreciation over cost. These investments are kept under review. Under “Sundry Creditors” an amount of HK$25,000 is shown. This is for two journals, 1976 and 1977, the former of which was received by members at the end of last year and recently paid for: the 1977 journal is likely to be paid for later this year after publication.
D. A. GILKES
Hon. Treasurer.
March 18, 1978