13
We shall therefore at the beginning of 1951 face a deficit of $720,000 = £45,000 on the 1950 accounts. The re may be a fall in wages but, more probably there will be an increase in maintenance costs.
B.
Non-recurring charges.
About $730,000 (=£45,630) has already been spent on the repair of buildings: even if prices do not further in- crease it is estimated that $800,000 remains to be spent.
Additional accommodation is required for normal
working on a pre-war Scale:
I wonted to in
1940.
(a)
Hostel accommodation for 100 men and 60 women
$1,750,000 = £110,000
Substituted &* (b) Accommodation for Archi- mechanical Electrical tecture and Training of Laboratory rehabilita. Teachers
i (c) Block of 8 flats for
1940. Eslinuts then
$350,0
This already proposed b
NOTE:
senior staff
า
$750,000 = £46,875
$1,000,000 = £ 68,75
Say $3,600,000 = £225,000
(2)
Building costs are about five times the pre-war rates and no fall is expected within ten years. #. Trang Jf Teacher
Jashar ₤35,000
General position.
ieschitectum
To recover its pre-war status the University will have by 1951 to face a total of deficits on recurring costs of about $3,000,000 (£187,500). Repair of buildings and new building will demand about £225,000.
At the most hopeful estimate the University may expect an increase by stages of the Government grant to maximum of $900,000 an increase of £28,500. Fees may have
4. Just by still further to be increased and freer admission be offered
сл.
Cor. offic.
bit w the upd Khinsity ??
og
to achieve perhaps an increase of £10,000 a year in fee income. Even so, in 1951 there would be a deficit of at least $120,000 (£7,500) on recurring charges for the year.
In addition $2 million or £225,000 is to be found for buildings.
C.
Furniture and Equipment.
Except for books in the Libraries the University was stripped of furniture and equipment. Already $400,000
at least another $800.000 IS be spent. The loss in this instance is due directly to Japanese-permitted looting by Chinese in a firewood famine. We therefore have put in a claim against any reparation payments received from Japan but have done so without much hope. So far the Hong Kong Government has been generous in the help they have given but a new period of rigid economies has set in.
£25,0? (£50,000) has been spent:
3
To meet cost I rehabilitation of buildings
Commuter has been asked
secure.
to give £255,000.
new
D. J. S.
45 Grant
trailings grant of k 200,000
is reasonabs
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