140-
130-
120
2 2 0 8 8 8 8 8 8 000
110
100
40
20
1.1
Capital
Projects
Administration
238
27.1
HONG KONG URBAN COUNCIL
Allocation of Capital Expenditure over Select Committee (3 milliona)
132.6
HONG KONG URBAN COUNCIL
Page 139 of 233
239
MR. H. M. G. FORSGate, Vice-Chairman, URBAN COUNCIL (in English):- Mr. Chairman, in light of the size of this year's and next year's budget, I have two speeches made, a very long one covering in length the budget but you will relieve to hear I am going to read the short one. Because I have little to add to what you have said concerning the likely result of this financial year which, however, will turn out to be very much better than expected. Regarding the budget for 1985/86, and to avoid a monotonous repetition of numbers, I table my supplementing speech as a memorandum, which together with your comments, forms the basis for recommending the adoption of your motion which I now second.
13.4
7.5
5.1
4.2
Culture
Environmental Hygiene
Libraries
Street Traders.
PET #LOKAK
104.0
Recreation
35.1
Complexes
Other Capital Expenditure
Appendix I
SPEECH BY MR. H. M. G. FORSGATE, Vice-Chairman, URBAN COUNCIL
ON 13 NOVEMBER 1984
IN SECONDING THE MOTION FOR THE ADOPTION OF THE Council's 1985/86 ESTIMATES OF REVENUE AND EXPENDITURE
Mr. Chairman, in seconding the motion following your speech recommending adoption of new year's budget, I would like to go into a bit more detail.
On the basis of the budget presented today, total Urban Council expenditure in 1985/86 is proposed to be $1.83 billion which when compared with the revised estimate for 1984/85 shows an increase of $121.6 million (7.1%) in monetary terms.
The major part of the proposed overall increase is attributable to the fact that expenditure on capital projects is expected to increase by $84.9 million (4.96%) with the remaining expenditure items accounting for an overall increase of $36.7 million (2.14%).
Revised Estimates 1984/85
I shall now bring you up-to-date on the present position of the Council's accounts.
The revised estimates envisage a deficit of $32.2 million which compares favourably with an estimated deficit of $196.3 million in the approved budget for the current year. The revised estimates of revenue and expenditure are respectively $1.68 billion and $1.71 billion as compared with $1.56 billion and $1.75 billion in the approved budget.
The revenue is expected to be $122.7 million, (7.9%) higher than the original estimate. This increase is mainly due to the receipt of the salary grant of $93.1 million from Government in respect of the general salary revision for the Civil Service effected from 1 April 1984, anticipated increase of $20 million in bank
Xuseums
Page 139 of 233