Page 47 - Annual Report 2018/19

Finance
The HKEAA is an independent, statutory body
with its income mainly derived from
examination fees and other assessment
services. We adopt a prudent financial
management approach, as well as proactive
measures to reduce expenditure and boost
capacity through continuous review of
facilities and human resources management.
In view of the continuously declining
candidature of the HKDSE Examination,
approval had been sought from the Finance
Committee of the Legislative Council for a
non-recurrent four-year funding commitment
of $360.8 million in support of the HKEAA’s
operation until 2021/22. A sum of $50.4
million was transferred to the HKEAA in the
fourth quarter of the financial year
2018/19 to cope with cash flow requirements.
Following the transfer, the reserve balance of
the HKEAA stood at HK$207.5 million as of
2018/19 Financial Highlights
Total Income for the year
Total Expenditure for the year
Surplus for the year
Reserve Balance
(as at 31 August 2019)
31 August 2019, representing a rise of
HK$22.7 million from the previous financial
year. Taking out the sum of HK$50.4 million,
a deficit of HK$27.7 million was recorded for
2018/19. The deficit came mainly from the
decline in the HKDSE’s candidature, and
rising costs of special examination arrangements
in support of candidates with special educational
needs. Total expenditure increased by 5%
compared to last year, mainly due to the
hiring of extra staff for some projects, IT
maintenance from certain examination
systems, and one-off items including the
replacement of obsolete workstations and
monitors for onscreen marking as well as the
repair work for assessment centres damaged
by Super Typhoon Mangkhut.
To sustain future operations, a joint Task
Force on Long-term Funding has been set up
with the Education Bureau to explore
possible long-term funding options for the
HKEAA. The Task Force aims at identifying
possible options for consultation with
relevant stakeholders by 2020.
HK$ 469,512,206
HK$ 446,846,466
HK$ 22,665,740
HK$ 207,452,798
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