Page 136 - Demo

- 11 -- 10 -1 %u9999%u6e2f%u623f%u5c4b%u59d4%u54e1%u6703%u8207%u653f%u5e9c%u4e4b%u9593%u7684%u8ca1%u653f%u5b89%u6392(%u7e8c) 1 FINANCIAL ARRANGEMENTS WITH THE GOVERNMENT (Continued)(f) %u623f%u5c4b%u5efa%u8a2d%u5de5%u7a0b%u57fa%u91d1 (f) Housing Capital Works Fund%u623f%u5c4b%u5efa%u8a2d%u5de5%u7a0b%u57fa%u91d1%u65bc 1993 %u5e74 4 %u6708 1 %u65e5%u8a2d%u7acb%uff0c%u76ee%u7684%u662f%u63d0%u4f9b%u7368%u7acb%u8cc7%u91d1%uff0c%u4f9b%u623f%u59d4%u6703%u8cfc%u7f6e%u53ca%uff0f%u6216%u8208%u5efa%u56fa%u5b9a%u8cc7%u7522%u548c%u767c%u5c55%u5c45%u5c4b%u8a08%u5283%u3002%u8a72%u57fa%u91d1%u7684%u7528%u9014%u5df2%u64f4%u5c55%u81f3%u652f%u4ed8%u5927%u578b%u6539%u5584%u5de5%u7a0b%u7684%u5efa%u8a2d%u6210%u672c%u3002%u56e0%u6b64%uff0c%u57fa%u91d1%u5206%u70ba%u5169%u500b%u5e33%u76ee%uff0c%u5373%u7528%u65bc%u8208%u5efa%u5c4b%u90a8%u53ca%u767c%u5c55%u5c45%u5c4b%u8a08%u5283%u7684%u300c%u5efa%u7bc9%u5de5%u7a0b%u5e33%u76ee%u300d%uff0c%u4ee5%u53ca%u7528%u65bc%u6539%u5584%u73fe%u6709%u5c4b%u90a8%u6c34%u6e96%u53ca%u5c4b%u90a8%u793e%u5340%u670d%u52d9%u7684%u300c%u6539%u5584%u5de5%u7a0b%u5e33%u76ee%u300d%u3002%u4e0a%u8ff0%u5169%u500b%u5e33%u76ee%u5747%u9808%u4fdd%u6301%u8db3%u5920%u6578%u984d%u7684%u904b%u4f5c%u8cc7%u91d1 %uff0d %u300c%u5efa%u7bc9%u5de5%u7a0b%u5e33%u76ee%u300d%u7684%u6578%u984d%u9808%u76f8%u7b49%u65bc 6 %u500b%u6708%u7684%u4f30%u8a08%u958b%u652f%uff0c%u300c%u6539%u5584%u5de5%u7a0b%u5e33%u76ee%u300d%u5247%u9808%u4fdd%u6301 20 %u5104%u6e2f%u5143%u7684%u5e74%u7d42%u7d50%u9918%u3002The Housing Capital Works Fund, established on 1 April 1993 to separate the funding for the acquisition and/or construction of all the Authority%u2019s fixed assets and developments of the HOS, has been expanded to finance the capital costs of major improvement works. Accordingly, it is split into two accounts, viz. the Construction Account to cover the construction of housing estates and developments of the HOS, and the Improvement Account to provide funds for improving the standard of existing estates and implementing better community services in the estates.Each of these two accounts is required to maintain an adequate level of operating funds - the Construction Account at a level equivalent to six months%u2019 estimated expenditure, and the Improvement Account at an annual balance of HK$2 billion.(g) %u767c%u5c55%u57fa%u91d1 (g) Development Fund%u767c%u5c55%u57fa%u91d1%u65bc 1994 %u5e74 10 %u6708 1 %u65e5%u8a2d%u7acb%uff0c%u7528%u4ee5%u652f%u4ed8%u767c%u5c55%u623f%u5c4b%u53ca%u8207%u623f%u5c4b%u6709%u95dc%u7684%u5de5%u7a0b%u548c%u57fa%u5efa%u7684%u958b%u652f%uff0c%u5f9e%u800c%u9032%u4e00%u6b65%u63a8%u884c%u653f%u7b56%uff0c%u70ba%u6709%u4f4f%u5c4b%u9700%u8981%u7684%u4eba%u58eb%u63d0%u4f9b%u8db3%u5920%u53ca%u80fd%u529b%u53ef%u8ca0%u64d4%u7684%u5c45%u6240%u3002%u5728%u623f%u59d4%u6703%u4e8b%u5148%u540c%u610f%u4e0b%uff0c%u70ba%u7dad%u6301%u767c%u5c55%u57fa%u91d1%u8a2d%u7acb%u7684%u76ee%u7684%uff0c%u653f%u5e9c%u6709%u6b0a%u5411%u8a72%u57fa%u91d1%u6ce8%u5165%u53ef%u80fd%u9700%u8981%u7684%u984d%u5916%u6b3e%u9805%u3002The Development Fund was established with effect from 1 October 1994 to finance the development of housing and housing-related projects and infrastructure that would further the policy of providing adequate and affordable housing for those in need of housing provision. With the prior agreement of the Authority, the Government has the right to pay into the Development Fund such additional sum of money that might be needed to support the purposes of the Fund.2 %u91cd%u5927%u6703%u8a08%u653f%u7b56 2 MATERIAL ACCOUNTING POLICIES(a) %u8ca1%u52d9%u5831%u8868%u7de8%u88fd%u57fa%u6e96 (a) Basis of preparation of financial statements%u672c%u8ca1%u52d9%u5831%u8868%u662f%u6309%u7167%u300a%u623f%u5c4b%u689d%u4f8b%u300b%u3001%u8207%u653f%u5e9c%u65bc 1988%u5e74%u9054%u6210%u7684%u8ca1%u653f%u5b89%u6392%u548c 1994 %u5e74%u8207%u653f%u5e9c%u4f5c%u51fa%u7684%u589e%u88dc%u5354%u8b70%uff0c%u4ee5%u53ca%u7d93%u623f%u59d4%u6703%u901a%u904e%u7684%u6703%u8a08%u653f%u7b56%u7de8%u88fd%u3002The financial statements have been prepared in accordance with the Housing Ordinance, the 1988 Financial Arrangements and the 1994 Supplemental Agreement with the Government, and the accounting policies approved by the Authority.(i) %u8a08%u91cf%u57fa%u6e96 (i) Measurement basis%u7de8%u88fd%u8ca1%u52d9%u5831%u8868%u6642%u4ee5%u539f%u503c%u6210%u672c%u4f5c%u70ba%u8a08%u91cf%u57fa%u6e96%uff0c%u60df%u5916%u8058%u6295%u8cc7%u7d93%u7406%u7ba1%u7406%u7684%u8b49%u5238%u9664%u5916%u3002%u524d%u8ff0%u8b49%u5238%u6309%u516c%u5e73%u503c%u5217%u51fa%uff0c%u6709%u95dc%u6703%u8a08%u653f%u7b56%u8f09%u65bc%u9644%u8a3b 2(j)%u3002The measurement basis used in the preparation of the financial statements is historical cost except for securities managed by external fund managers, which are stated at their fair value as explained in the accounting policies set out at Note 2(j).(ii) %u7ba1%u7406%u5c64%u7684%u5224%u65b7%u548c%u4f30%u8a08 (ii) Management judgements and estimates%u7de8%u88fd%u8ca1%u52d9%u5831%u8868%u6642%uff0c%u7ba1%u7406%u5c64%u9700%u8981%u4f5c%u51fa%u5c0d%u653f%u7b56%u61c9%u7528%uff0c%u4ee5%u53ca%u5c0d%u6240%u5448%u5831%u8cc7%u7522%u3001%u8ca0%u50b5%u3001%u6536%u5165%u548c%u652f%u51fa%u91d1%u984d%u69cb%u6210%u5f71%u97ff%u7684%u5224%u65b7%u3001%u4f30%u8a08%u548c%u5047%u8a2d%u3002%u8a72%u7b49%u4f30%u8a08%u548c%u76f8%u95dc%u5047%u8a2d%u4e43%u6839%u64da%u7d93%u9a57%u3001%u4ee5%u53ca%u5728%u76f8%u95dc%u60c5%u6cc1%u4e0b%u8a8d%u70ba%u5408%u7406%u7684%u5404%u7a2e%u5176%u4ed6%u56e0%u7d20%u4f5c%u51fa%uff0c%u800c%u6240%u5f97%u7d50%u679c%u6703%u5728%u6b20%u7f3a%u4f86%u81ea%u5176%u4ed6%u6e90%u982d%u7684%u73fe%u6210%u6578%u64da%u6642%uff0c%u4f5c%u70ba%u5224%u65b7%u8cc7%u7522%u548c%u8ca0%u50b5%u5e33%u9762%u503c%u7684%u57fa%u6e96%u3002%u5be6%u969b%u7d50%u679c%u8207%u4e0a%u8ff0%u4f30%u8a08%u6216%u6709%u4e0d%u540c%u3002%u8a72%u7b49%u4f30%u8a08%u548c%u76f8%u95dc%u5047%u8a2d%u6703%u4f5c%u6301%u7e8c%u6aa2%u8a0e%u3002%u5c0d%u6703%u8a08%u4f30%u8a08%u6240%u4f5c%u7684%u4fee%u8a02%u5982%u53ea%u6703%u5f71%u97ff%u4f5c%u51fa%u6709%u95dc%u4fee%u8a02%u7684%u6703%u8a08%u671f%uff0c%u6703%u65bc%u8a72%u6703%u8a08%u671f%u52a0%u4ee5%u78ba%u8a8d%uff1b%u5982%u6703%u5f71%u97ff%u76ee%u524d%u548c%u65e5%u5f8c%u7684%u6703%u8a08%u671f%uff0c%u5247%u6703%u65bc%u4f5c%u51fa%u6709%u95dc%u4fee%u8a02%u7684%u6703%u8a08%u671f%u548c%u65e5%u5f8c%u7684%u6703%u8a08%u671f%u52a0%u4ee5%u78ba%u8a8d%u3002%u7ba1%u7406%u5c64%u5728%u61c9%u7528%u623f%u59d4%u6703%u7684%u6703%u8a08%u653f%u7b56%u6642%u4f5c%u51fa%u7684%u4e00%u4e9b%u5c0d%u8ca1%u52d9%u5831%u8868%u6709%u91cd%u5927%u5f71%u97ff%u7684%u5224%u65b7%u8f09%u65bc%u9644%u8a3b 3%u3002The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and the reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Judgements made by management in the application of the Authority%u2019s accounting policies that have significant impact on the financial statements are explained in Note 3.- 11 -