CO129-576-5 Hong Kong University 13-6-1939 - 23-11-1939 — Page 112

Total ₤16,025

Summary of the Financial Implications

of the proposals.

A. Non-recurring expenditure

B.

i.e. Capital expenditure on buildings and equipment

Additional

Recurring expenditure.

+B-

8B

112

£.

210,000

2,900

-₤131255

'

(a)

Salaries

1. Minimum cost

110,800

4,190

2. Maximum cost

94,300

6,515

(b) Maintenance Charges

36,900

(c)

Scholarships

39,200

(a) Libraries and summer

school

26,500

(e) Provident Fund provision must be added to the

salaries above, averaging 15 per cent. on dollar

salaries and 40 per cent. on sterling salaries.

Total recurring costs then become: -

(a) minimum $320,000

$323876

20,242

(b) maximum (350,000) ?$356,980 £22,311

1

If the Electrical and Mechancial Engineering

Branch is ever resuscitated this would entail an additional

cost of roughly $44,000, raising the maximum recurrent

400,000

expenditure to something like $394,000.

£25,000

At present the annual Government contribution to

the University is $350,000

₤21,875