TNAG-1065-FCO40-1315-Development-of-Hong-Kong-social-services-1981 — Page 41

Central Provident Fund Board

Income & Expenditure Account

for the year ended 31 December 1979

INCOME

Interest from:-

Investments

1979

1978 $

Funds with bankers

410,442,725 428,327

331,770,381

431,545

Contributions paid late

3,576,528

3,101,447

414,447,580

335,303,373

Profit from investments

707,765

3,380,356

Rental & service charges from tenants

4,250,419

3,391,456

Car park receipts

353,498

267,053

Agency & data processing fees

764,705

637,050

Miscellaneous revenue

38,978

43,198

TOTAL INCOME

420,562,945

343,022,486

Less:

EXPENDITURE

Salaries, CPF contributions & staff benefits

4,526,159

3,978,491

Transport expenses

Stamp duty

Printing, stationery & office supplies

Postage, telegrams & telephones

Postal Services Department charges

75,690

62,376

68,978

63,618

425,244

392,027

370,117

353,583

40,212

53,847

Machine maintenance

Computer software expenses

Insurance

Miscellaneous expenses

Allowance for Board members

Audit fee

Property tax

Building maintenance

Office security

166,035

162,057

19,891

23,985

52,522

51,760

76,329

56,860

10,413

8,700

36,425

36,425

1,180,232

1,090,439

354,619

324,990

27,680

27,421

Car park expenses

89,620

82,295

Public utilities

783,244

722,612

Depreciation of fixed assets

2,239,688

1,992,443

TOTAL EXPENDITURE

10,543,098

9,483,929

NET INCOME

410,019,847

333,538,557

Less: Interest credited to members' accounts

410,507,528

333,483,661

(487,681)

54,896

Exceptional items:-

Interest on apportioned cost of CPF building

payable by Currency Board

3,948,679

Reduction in assessment of property tax for 1977

467,273

SURPLUS/(DEFICIT) FOR THE YEAR

(487,681)

4,470,848

The accompanying notes form an integral part of these Accounts.

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