Appendix A(1)
SUMMARY OF ESTIMATES
Background
For control and funding purposes, Government's financial activity is undertaken through a variety of accounts and funds. General Revenue Account acts as the main funding device with resources being transferred to or from the other funds as necessary. The tables below indicate the consolidated position. The following accounts are omitted from the consolidation:
(i) Lotteries Fund-which is subject to separate statutory provisions preventing the use of the fund revenue
on general Government purposes.
(ii) The Suspense Account of the Capital Works Reserve Fund—the net revenue of which is subject to
sharing with the future Hong Kong Special Administrative Region Government.
Subsequent appendices will analyse each fund in turn.
Summary of Estimated Financial Position
1986-87 Revised Estimate
Opening Balance
Expenditure
Revenue
Transfer between funds
Surplus/ (Deficit)
Closing
Balance
after transfer
Smn
$mn
Smn
$mn
$mn
$mn
General Revenue Account
16,961
33,931
43,108
(6,100)
3,077
20,038
Capital Works Reserve Fund
5,952
6,500
2,239
4,390
129
6,081
Development Loan Fund
1,843
1,557
638
1,100
181
2,024
Home Ownership Fund
1,700
811
1,878
1,067
2,767
Mass Transit Fund
525
56
585
529
1,054
Student Loan Fund
65
95
889
68
25
(2)
63
27,046
42,950
47,931
4,981
32,027
Total
¦
1987-88 Estimate
Opening Balance
Expenditure
Revenue
Transfer between funds
Surplus/ (Deficit)
Closing Balance
after transfer
Smn
$mn
$mn
$mn
$mn
$mn
General Revenue Account
20,038
37,809
46,177*
(6,600)
1,768
21,806
Capital Works Reserve Fund
6,081
7,050
2,220
5,080
250
6,331
Development Loan Fund
2,024
1,690
635
1,000
(55)
1,969
Home Ownership Fund
2,767
752
1,797
1,045
3,812
Mass Transit Fund
1,054
1,102
500
(602)
452
Student Loan Fund
63
103
76
20
(7)
56
Total
32,027
48,506
50,905
2,399
34,426
* After revenue proposals
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