Page 388 of 498
HONG KONG URBAN COUNCIL
Mr. Chairman, I abstained in last year's Debate. This year, I fail to see any performance. Mr. Chairman, with these remarks, I object to the motion. Thank you, Mr. Chairman.
Mr. Chiang SAI-CHEONG (in Cantonese):--Mr. Chairman, as Chairman of the Finance Select Committee, I would like to talk about the Urban Council's financial situation in the past year, our future financial orientation, and some of my feelings towards this subject.
Last year, the Council has increased both its revenue and expenditure. As a result, the workload of the Finance Select Committee has increased as well. The Finance Select Committee is responsible for monitoring the Council's finance and considering the financial proposals it receives. Its most important duty is to monitor the Council's expenditure, such as personal emoluments (the Urban Services Department is indeed the biggest civilian department in the Hong Kong Government) and costs on capital works (including new facilities and venues, especially the multi-purpose UC complexes). However, the duties of the Committee are not restricted to approving expenditures of large-scale projects. All kinds of financial proposals of various scales must be handled by us prudently. The Finance Select Committee has therefore continued to examine all the income and expenditure of the Council in the past year. During the year, the Council had a total revenue of $6.467 billion and a total expenditure of about $6 billion. We are very much concerned about this situation. Another item that the Committee has to handle prudently is the Council's reserve which stands at $2.98 billion at present. On the surface of it, this seems to be an enormous amount, but in fact it represents only about 22 weeks' expenditure of the Council. It should therefore only be regarded as a necessary cushion against unforeseen expenditure. I would like to take this opportunity to express my heart-felt gratitude to them. Members of the Finance Select Committee and the two Working Groups under it who have shown much tolerance, patience and understanding during the past year, and the senior officers of the USD who have provided us with professional advice and guidance from time to time.
According to the current Five-Year Estimates of Revenue and Expenditure, the Council's expenditure will continue to grow by a big margin with the increase of facilities and services we provide to the public. Our major projects include: Film Archive and Leisure Centre on Sai Wan Ho Reclamation, with an estimated cost of $340 million; Central Library, $330 million; UC Tai Kok Tsui Complex $220 million; Hong Kong Museum of History $190 million; Ho Man Tin Recreation ground at $180 million; UC Chai Wan Complex $180 million: Shun Lee Tsuen Recreation Ground $170 million; UC Fuk Wing Street Complex $170 million; Redevelopment of Victoria Park Phase I $130 million; Lai Chi Kok Park Stage III Phase 1 Development Project $120 million; redevelopment of Mongkok Stadium $120 million. All of these are large scale projects, each with an estimated cost of over $100 million, bringing
Page 388 of 498
5 588 of 498
432
Page 388 of 498
5 588 of 498
432
HONG KONG URBAN COUNCIL
Mr. Chairman, I abstained in last year's Debate. This year, I fail to see any performance. Mr. Chairman, with these remarks, I object to the motion. Thank you, Mr. Chairman.
Mr. Chiang SAI-CHEONG (in Cantonese):--Mr. Chairman, as Chairman of the Finance Select Committee, I would like to talk about the Urban Council's financial situation in the past year, our future financial orientation, and some of my feelings towards this subject.
Last year, the Council has increased both its revenue and expenditure. As a result, the workload of the Finance Select Committee has increased as well. The Finance Select Committee is responsible for monitoring the Council's finance and considering the financial proposals it receives. Its most important duty is to monitor the Council's expenditure, such as personal emoluments (the Urban Services Department is indeed the biggest civilian department in the Hong Kong Government) and costs on capital works (including new facilities and venues, especially the multi-purpose UC complexes). However, the duties of the Committee are not restricted to approving expenditures of large-scale projects. All kinds of financial proposals of various scales must be handled by us prudently. The Finance Select Committee has therefore continued to examine all the income and expenditure of the Council in the past year. During the year, the Council had a total revenue of $6.467 billion and a total expenditure of about $6 billion. We are very much concerned about this situation. Another item that the Committee has to handle prudently is the Council's reserve which stands at $2.98 billion at present. On the surface of it, this seems to be an enormous amount, but in fact it represents only about 22 weeks' expenditure of the Council. It should therefore only be regarded as a necessary cushion against unforeseen expenditure. I would like to take this opportunity to express my heart-felt gratitude to them. Members of the Finance Select Committee and the two Working Groups under it who have shown much tolerance, patience and understanding during the past year, and the senior officers of the USD who have provided us with professional advice and guidance from time to time.
According to the current Five-Year Estimates of Revenue and Expenditure, the Council's expenditure will continue to grow by a big margin with the increase of facilities and services we provide to the public. Our major projects include: Film Archive and Leisure Centre on Sai Wan Ho Reclamation, with an estimated cost of $340 million; Central Library, $330 million; UC Tai Kok Tsui Complex $220 million; Hong Kong Muscum of History $190 million; Ho Man Tin Recreation ground at $180 million; UC Chai Wan Complex $180 million: Shun Lee Tsuen Recreation Ground $170 million; UC Fuk Wing Street Complex $170 million; Redevelopment of Victoria Park Phase I $130 million; Lai Chi Kok Park Stage III Phase 1 Development Project $120 million; redevelopment of Mongkok Stadium $120 million. All of these are large scale projects, each with an estimated cost of over $100 million, bringing
Page 388 of 498
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