CO129-610-3 Rehabilitation of Hong Kong University 15-2-1949 - 7-2-1950 — Page 154

1.

UNIVERSITY OF HONG KONG.

H.M.G'S GRANT OF £250,000.

Annexure. B.

163

The Council agreed that to get the maximum value for the University out of this grant it would be well to spend the money by annual drawings of capital and interest over a period of from ten to fifteen years. If we can rely on the Hong Kong Government 1948 Loan remaining at, or almost at, par this would probably be our best invest-

Used as is suggested, the Grant would provide for the following annual drawings:-

Over 10 years

# 12 #

健 15

20 11

$480,965

.$413,935

$347,300

$281,444

We can,

We can anticipate no increase of endowment income. however, anticipate an increase of fee income. It has been suggested that next session tuition fees should be increased by 50% but that 10% of the total fee income should be earmarked for the assistance of able students who are unable to pay the increased fees. This should give us next year a net increase of about $100,000. When we reach our full numbers the increase should be not less than $200,000. This amount would not suffice to pay the present total of H.C.L. allowances. How long these will continue to be paid and at what rates it is impossible to estimate. All one can say is that if they disappear during the next few years we shall have an additional $200,000 at our disposal for development. (If they do not disappear then all of our estimates, based on the assumption that the present high cost of living is transitory are invalidated).

2.

By using H.M.G's grant over 15 years and by an increase of fees, unless changed money values destroy all our estimates, we could reasonably expect new income of $347,300 from capital and interest and of $100,000 rising to $200,000 from fees, a total of about £34,250.

3.

The schemes of development so far discussed would cost more than this. The most modest yet proposed would cost not less than £45,000 a year. The best therefore that we can hope for under the conditions is to provide;

(i) for courses approved in 1939 and their healthy

development;

(ii) for the anticipated increase in the number of

students over the 1939 total.

4.

Briefly, Faculty by Faculty, the increases of staff required on this basis during the next five years or ever less may be summarized as follows:

I. ARTS.

(i) Substitution of a Professorship for a Readership

in History and creation of a Lectureship, this development to make teaching Far Eastern History possible and to provide for the natural growth of the Department.

(ii) The establishment of a Readership and Lectureship in Geography in place of an existing part-time Lectureship in order that Geography may become a major subject in the B.A. and B.Sc. courses.