HONG KONG URBAN COUNCIL
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In accordance with Section 40(4) of the Urban Council Ordinance, one copy of the certified statements will be forwarded to His Excellency the Governor forthwith.
I beg to move.
MR. PAO PING-WING, Chairman of the Finance Select Committee (in Cantonese): Mr. Chairman, in seconding the adoption of the audited accounts, I would like to thank the Department on behalf of the Finance Select Committee for producing our accounts in time such that the Council and the Director of Audit were satisfied. I am pleased to report here that the financial accounts for the year ended 31 March 1994, a surplus of $408 million have been certified as correct by the Director of Audit. And then on the 3 May 1994, full details of the accounts were provided to Members and the Standing Committee of the Whole Council.
According to the 1994/95 to 1998/99 five-year forecast which was placed before Members on the 20 September 1994, for the current financial year, we will have a small deficit of $70 million. Should this deficit be realised, then the Council's reserves will be reduced to $2.07 billion. At current price levels, this amount is equivalent to about 19 weeks' expenditure. Therefore, in the coming few years, the Council's financial position would appear to be quite reasonably secure.
Mr. Chairman, with these words, I second the motion.
The question was put.
The motion was carried unanimously.
(2) THE CHAIRMAN, URBAN COUNCIL, moved the following motion:-
'RESOLVED that the Urban Council Annual Report 1993–1994 be approved.'
He said (in English):—I now turn to the Council's Annual Report for 1993/94, which I take much pleasure and pride in tabling today.
Every year brings in more progress by this Council in enriching the lifestyle of the urban dwellers of Hong Kong, and how this progress has been accomplished is fully and colourfully depicted in this impressive annual publication.
The main feature of the Report concerns our newly redeveloped Hong Kong Stadium, whose teething problems we all trust shall soon be behind us all. The vivid pictorial illustrations in this Special Feature Report serve to show how very magnificent the facilities of the Stadium are in catering for the recreational and sporting needs of our community.
Elsewhere, the Report details the extensive progress made by the Council—and put into practice by the effective workforce of the Urban Services Department—in many fields.
So much has been taking place in the form of civic improvements that to enumerate them one by one will be an endless process. However, readers will not
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Page 61 of 115
HONG KONG URBAN COUNCIL
Page 61 of 115
121
In accordance with Section 40(4) of the Urban Council Ordinance, one copy of the certified statements will be forwarded to His Excellency the Governor forthwith.
I beg to move.
MR. PAO PING-WING, CHAIrman of the Finance Select Committee (in Cantonese): Mr. Chairman, in seconding the adoption of the audited accounts, I would like to thank the Department on behalf of the Finance Select Comittee for producing our accounts in time such that the Council and the Director of Audit were satisfied. I am pleased to report here that the financial accounts for the year ended 31 March 1994 a surplus of $408 million have been certified as correct by the Director of Audit. And then on the 3 May 1994, full details of the accounts were provided to Members and the Standing Comittee of the Whole Council.
According to the 1994/95 to 1998/99 five year forecast which was placed before Members on the 20 September 1994, for the current financial year, we will have a small deficit of $70 million. Should this deficit be realised then the Council's reserves will be reduced to $2.07 billion. At current price levels, this amount is equivalent to about 19 weeks' expenditure. Therefore, in the coming few years, the Council's financial position would appear to be quite reasonably secure.
Mr. Chairman, with these words, I second the motion.
The question was put.
The motion was carried unanimously.
(2) THE CHAIRMAN, URBAN COUNCIL, moved the following motion:-
'RESOLVED that the Urban Council Annual Report 1993–1994 be approved.'
He said (in English):—I now turn to the Council's Annual Report for 1993/94, which I take much pleasure and pride in tabling today.
Every year brings in more progress by this Council in enriching the lifestyle of the urban dwellers of Hong Kong, and how this progress has been accomplished is fully and colourfully depicted in this impressive annual publication.
The main feature of the Report concerns our newly redeveloped Hong Kong Stadium, whose teething problems we all trust shall soon be behind us all. The vivid pictorial illustrations in this Special Feature Report serve to show how very magnificent the facilities of the Stadium are in catering for the recreational and sporting needs of our community.
Elsewhere, the Report details the extensive progress made by the Council-and put into practice by the effective workforce of the Urban Services Department—in many fields.
So much has been taking place in the form of civic improvements that to enumerate them one by one will be an endless process. However, readers will not
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