HKAPA Annual Report 2008-2009 - page 103

102
Expenditure
Total expenditure as shown in Table 3 for the year was
increased by HK$24.15M from HK$310.09M in 2007/2008
to HK$334.24M in 2008/2009, an increase of 7%. This
increase in expenditure was necessary for supporting the
increase in student numbers and newprogrammes offered,
for undertaking programmes accreditation exercise,
for undertaking community engagement activities, for
launching branding campaign.
Government Funded Activities
Operating costs of all government-funded activities for the
year had increased resulting mainly from introduction of
new government-funded academic programmes to meet
the acutemanpower shortage in theatre and entertainment
industries and pay rise in line with civil service pay
adjustments. All these costs were met by government
recurrent grant which was HK$191.62M, an increase of
15.9% from 2007/2008.
After adjusting for the depreciation charge and capital
expenditure to the‘Plant and Equipment’ fund for matching
costs of capital items purchasedusing government recurrent
grant, the balance of Government Reserve Fund, as at
30 June 2009, was HK$14.44M.
Non-government Funded Activities
Annual government recurrent funding was not provided
to meet the operating costs of Master Degree Programmes
offered by the Academy. In addition to Master Degree
Programmes in dance and music, drama, theatre and
entertainment arts programmes was offered during the
year. These four programmes together with the operation
costs of the Graduate Education Centre recorded a deficit
of HK$2.30M (2007/2008: HK$2.44M).
Other than the Master Degree Programmes, the Venue
hiring operations and the continued educationprogrammes
operated under EXCEL Ltd were also two major non-
government funded operations, both of which accounted
for 40% of gross income from non-government funded
activities.Other activities operated during the year included
provision of Applied Learning Programmes for Education
Bureau, hiring of costumes and stage properties and car
parking operations.
The Venue hiring activities remained profitable for the
year and its operation recorded a net surplus of HK$7.75M
for 2008/2009(2007/2008 HK$7.80M)
The continued education programmes delivered under
EXCEL Ltd has recorded a surplus of HK$1.06M for
2008/2009 (2007/2008: HK$1.28M).
Visitors on Open Day
(photo by Cheung Chi-wai)
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