RASHKB Journal 皇家亞洲學會香港分會學刊 | RAS-2002 https://digitalrepository.lib.hku.hk/catalog/mp4901278 encouragement of scholarship in the field of Hong Kong Studies. We have long wished to undertake a more charitable role in this field. Action could only be begun, however, after we had achieved formal recognition of our status as a Charity by the Inland Revenue Department, which was completed about a year ago. Since then we have been very active in attempting to conclude a scheme by which our wishes could be met. I had hoped that this work would have been completed by today, so that I could present to Members a complete scheme for agreement, but, unfortunately, for various reasons, we have not quite got to that stage as yet. Jason Wordie has been the main force behind this work, and he will make a special report to Members on the present position shortly. What we want to do is to set up a Foundation, or Capital, Fund, the income from which can be used to fund scholarship in the field of Hong Kong studies. The Fund would be detached from the Society's other accounts, and would be set up as an autonomous entity, with clear rules for disbursement and control under the oversight of a separate Management Board which would be formed from Members of Council and others. I hope that this Board can be set up within the next month. I hope to take the Chair of this Board for the initial year of its operation. The Management Board would be responsible for the financial management of the Fund (for which the Board would require professional financial advice), for the consideration of proposals for grants and for making such grants, for ensuring the quality of any work produced as the result of any grant so made, for ensuring that Council is properly kept in the picture as to the activities of the Fund (Council would retain the responsibility for setting policy for the Board), and for producing an Annual Report on the work of the Fund for presentation to the Annual General Meeting of the Society. Each year, the income from the Foundation Fund would be transferred to a Current Account from which disbursements could be made. Once the Fund has been set up, this Annual General Meeting would thereafter receive and approve the annual accounts of the Fund as well as those of the Society's general funds. We are still considering a name for the Fund: one possibility under consideration is to name it The Sir Lindsay and Lady Ride Memorial Fund, in memory of our founding Vice-President, who was later our Second President, as well as Hong Kong University's longest-serving Vice-Chancellor. xxiii ================================================================================ RASHKB Journal 皇家亞洲學會香港分會學刊 | RAS-2003 https://digitalrepository.lib.hku.hk/catalog/2v242g390 have not yet converted their subscription payment method to Autopay will receive notice that their Membership Subscription Fee will be surcharged as agreed, unless they change immediately to the Autopay system. Please take urgent steps to change your payment method if you have still not done so! The Sir Lindsay and Lady Ride Memorial Fund I am extremely glad to be able to inform you that the three years of work to set up the Sir Lindsay and Lady Ride Memorial Fund has at long last been finalised. Jason Wordie and Robert Nield will be saying a good deal more about this. In brief, in December of last year the Fund was formally established, and it now has in it over half a million dollars. The first book for consideration for publication under the Fund is currently being given a careful read-over by Hong Kong University Press to see if it is suitable. It is my very real hope that, by this time next year, the first book in our Hong Kong Studies series will have been published. In the near future I shall be writing to all the local Universities and others to urge people with suitable books to submit them to us for consideration for publication. Any book written in English; on Hong Kong, its history or society, or on South China generally, which has not been able to be published because of financial constraints, will be considered. The Hong Kong University Press will publish any such book on our behalf, so long as it considers it to be academically of a sufficiently high quality. Members, if they have books which might be suitable, should consider sending them to us for consideration. I must, however, warn that, in practice, it is unlikely that the Society will be able to process more than two, or at the very best three, books a year, and, if we get very large numbers of books submitted, some of them may have to wait for some years before we can process them! Lecture and Visit Programme This year we have enjoyed another wide-ranging and interesting programme of lectures and visits. During the year we had 15 lectures, 4 visits to places within Hong Kong and 4 to places outside Hong Kong. Three of the lectures were associated with visits which took place shortly afterwards. Nonetheless, despite the range and interest of the programme, the number of this year's events shows a slight falling off xxii ================================================================================ RASHKB Journal 皇家亞洲學會香港分會學刊 | RAS-2003 https://digitalrepository.lib.hku.hk/catalog/2v242g390 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2003 Investment Accumulated Revaluation Scholarship Funds Total Funds HK$ Reserve HK$ Fund HK$ HK$ At 1 January 2002 640,610 (23,255) 1,650 619,005 Unrealised loss on revaluation of investment in securities (28,800) (28,800) Surplus for the year 103,974 103,974 Donation received 4,550 4,550 Transferred from Income and expenditure account (100,000) 100,000 - At 31 December 2002 644,584 (52,055) 106,200 698,729 Unrealised profit on revaluation of investments in securities 178,800 178,800 Deficit for the year (40,866) (40,866) Donation received 3,744 3,744 Transferred to The Sir Lindsay And Lady Ride Memorial Fund (note 9) (290,056) (109,944) (400,000) At 31 December 2003 313,662 126,745 440,407 xxxiii ================================================================================ RASHKB Journal 皇家亞洲學會香港分會學刊 | RAS-2003 https://digitalrepository.lib.hku.hk/catalog/2v242g390 to be impaired, at which time the cumulative gain or loss is included in net surplus or deficit for the period. 3. SALES OF PUBLICATIONS 2003 2002 HK$ HK$ HK$ HK$ Sales Cost Net Net Journals 14,400 14,400 20,633 Hong Kong Going and Gone 3,440 3,440 2,790 Beyond the Metropolis 2,560 1,664 896 628 In the Heart of the Metropolis 825 741 84 (1,617) Some Traditional Ideas 350 350 280 Others 675 675 2,020 22,250 2,405 19,845 24,734 4. DONATIONS Donations were received during the year amounting to $3,744 (2002 - $4,550). As all these were designated by the donors as being for The Scholarship Fund, they were credited directly to that fund, prior to its transfer to The Sir Lindsay and Lady Ride Memorial Fund (see Note 9 below). 5. ANNUAL JOURNAL 2003 2002 HK$ HK$ Provision for previous year's Journal 85,000 75,000 Under/(over) provision from prior years 27,360 (1,000) 112,360 74,000 xxxvi ================================================================================ RASHKB Journal 皇家亞洲學會香港分會學刊 | RAS-2003 https://digitalrepository.lib.hku.hk/catalog/2v242g390 8. INVESTMENT IN SECURITIES 2003 2002 HK$ HK$ Listed investments Listed securities, at market value 588,000 409,200 9. THE SIR LINDSAY AND LADY RIDE MEMORIAL FUND In accordance with the resolution at the 2003 Annual General Meeting, The Sir Lindsay and Lady Ride Memorial Fund was established as a separate autonomous fund on 18 December 2003 for the encouragement of scholarship in the field of Hong Kong studies. Following the establishment of this fund, the balance standing to the credit of the former Scholarship Fund, amounting to $109,944, was transferred to the new entity, along with $290,056 of the Society's accumulated funds, making a total transfer of $400,000. xxxviii ================================================================================