70
10. Other Specific Funds
1990/91
1989/90
Capital Assets
Operating
Total
HKD'000
Assets HKD'000
HKD'000
Total
HKD'000
18,573
58,372
76,945
64,894
Balance brought forward
Transfer (to)/from Income and
Expenditure Account
- Acquisition of office premises (Note 2(a))
36,346
36,346
- Interest income
2,542
2,364
4,906
3,749
- Depreciation of operating assets
(6,044)
(6,044)
(6,498)
38,888
(3,680)
35,208
(2,749)
Transfer from Reserve Fund
52,556
52,556
14,800
Transfer to General Fund
Balance carried forward
(33,212)
(33,212)
76,805
54,692
131,497
76,945
Specific fund for capital assets is set up for acquisition of Council's office premises and will be transferred to General Fund Account upon execution of assets purchase.
During the financial year 1990/91, the Council has approved the following:-
a) a provision of HKD45.02m to be funded from the Reserve Fund for acquisition of an office premises in Toronto; b) a provision of HKD7.53m for acquisition and execution of purchase of an office unit in Sea View Estate in Hong Kong;
c) execution of purchase of an office premises and warehouse facility in Frankfurt.
Specific fund for operating assets is set up for acquisition of operating equipment and the Exhibition Services Centre at Yuen Long for providing support services and operation of the equipment and is to be amortised through the Income and Expenditure Account over the expected useful lives of the assets.
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Private notes are available after approval.