HONG KONG URBAN COUNCIL
service to all members of the public so that each and every citizen can buy tickets through the use of credit cards?
MR. SUEN KAI-CHEONG replied (in Cantonese):--Yes, I think both the Department and the Select Committee agree to that approach. In fact, many cinemas are already making use of that type of technology and we all agree that that should be the direction. However, we need to wait till all the services of the Council are computerised before the problem can be solved.
MOTIONS
(1) THE CHAIRMAN, URBAN COUNCIL, moved the following motion:-
'RESOLVED that the audited Statement of Assets and Liabilities and Statement of Receipts and Payments of the Urban Council for the year ended 31 March 1995 be adopted.'
He said (in Cantonese):—In accordance with Section 36(4)(c) of the Urban Council Ordinance, I move the adoption of the audited Statement of Assets and Liabilities and Statement of Receipts and Payments of the Urban Council for the year ended 31 March 1995.
Members will note that the Director of Audit's Certificate on the Statements is not qualified by any observation on the manner in which the Council's accounts have been kept and rendered.
In accordance with Section 40(4) of the Urban Council Ordinance, one copy of the audited statements will be forwarded to His Excellency the Governor forthwith.
I so move.
MR. CHENG Sai-Cheong, Chairman of the Finance Select Committee (in Cantonese): In rising to second the motion, I am pleased to report that the financial accounts which showed a surplus of $338 million for the year ended 31 March 1995 have been certified as correct by the Director of Audit. Full details and comments were provided to Members on 2 May 1995 at the Standing Committee of the Whole Council.
Based on the 1995/96 to 1999/2000 Five Year Forecast which was placed before Members on 5 September 1995, a surplus of $62 million was forecast for the current financial year. Should this surplus be realised, the Council's reserves would be increased to $2.57 billion which is equivalent to around 21 weeks' expenditure at current price levels. Thus, the Council's financial position appears reasonably secure for the next few years.
Mr. Chairman, with these words I second the motion.
The question was put.
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