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Reply:
Mr President,
(a)
The Hong Kong Academy for Performing Arts' (HKAPA) major source of funding is Government subvention, which amounts to about 85% of its recurrent income each year. This is supplemented by tuition fees and bank interest. The Academy also receives rental and box office commission from hirers of its venues for the management and maintenance of venues and private donations for scholarships. The Academy maintains a five-year forecast which is annually updated to take into account the actual amount of subvention approved by Government and the needs of the Academy. Each year, the Academy's internal Resource Allocation Committee will consider the proposed budgets of individual Schools/Departments and make recommendations to the Director on the priority of proposed developments. The estimates will then be submitted to the Council of the Academy, which is the governing and executive body for the Academy, for approval. The Government monitors the Academy's operation through various means. Under the HKAPA Ordinance, the Academy is required to submit to Government a programme of proposed activities and estimates of income and expenditure, the latter of which will be closely scrutinised by relevant Government departments. Within six months after the end of each financial year, the Academy is required to submit to the Governor a report on the activities of the Academy and copies of financial statements and the auditors' report. The documents will then be tabled at the Legislative Council meeting. In addition to the above, the Secretary for Recreation and Culture, by virtue of being a member of the HKAPA Council, monitors the financial matters of the Academy.
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