Page 100 - EdUHK Annual Report 2016-2017

THE EDUCATION UNIVERSITY OF HONG KONG 香港教育大學
(Expressed in Hong Kong dollars unless otherwise stated)(除另有說明外，所有金額以港幣為單位)
2 Financial risk and fund risk management (Continued) 2
2.2 Fund risk management 2.2
The University is a government subvented education institution established under the laws of Hong Kong Special Administrative Region (“HKSAR”), which main objects are to provide studies and training in teacher education and facilities for research into and the development of education. The University is not subject to any externally imposed capital requirements, except as stated in Note 16, and its activities are mainly funded by government grants and tuition fees, the spending of which is governed by the UGC Notes on Procedures and other grant conditions. The University’s activities are also funded by donations and funds generated from self- nancing activities.
The various restricted and other funds represent the unspent balance of such grants, income, donations and other speci c purpose funds. These funds are managed according to the relevant grant and funding conditions, where applicable, and the University’s investment and nancial management guidelines and procedures with the view of meeting the objects of the University.
None of the University’s subsidiaries are subject to any externally imposed capital requirements and their capital management policies are governed by their own nancial management guidelines and procedures with the view of safeguarding the subsidiaries’ ability to continue as a going concern.
2.3 Fair value estimation
The carrying values less impairment provision of receivables and payables are a reasonable approximation of their fair values.
The fair value of nancial liabilities for disclosure purposes is estimated by discounting the future contractual cash ows at
the current market interest rate that is available to the Group for similar nancial instruments, unless the effect of discounting will be immaterial.
98 / The Education University of Hong Kong Annual Report 2016-2017
財務風險及資金風險管理 (續)
資金風險管理
教大根據香港特別行政區法例成立，是一間政 府資助的高等教育機構，主要宗旨是提供師資 培訓及教育研究和發展所需的設施。除附註16 所述外，教大目前無須遵守外間訂立的任何資 本規定。教大營業活動的資金來源主要為政府 補助及學費，而這些資金的開支情況須遵循有 關教資會程序便覽的規定，並須視乎其他補助 條 件 而 定。此 外，教 大 亦 通 過 向 各 界 募 捐 及 開 辦自資課程，為營業活動籌集資金。
各類指定基金及其他基金是指相關補助金、收 入、捐款及其他特別指定用途的基金的未動用 餘 額。教 大 在 管 理 這 些 基 金 時，按 照 相 關 補 助 及撥款的條件，並(倘適用)遵循本身的投資及 財務管理指引和程序，藉以符合教大的目標。
教大各附屬公司均無須遵守外間訂立的任何資 本規定，其資本管理政策由其本身的財務管理 指引和程序所規管，藉以維護其持續經營的能 力。
2.3 公允價值估計
應收賬款和應付賬款的賬面值扣除減值撥備， 與其公允價值接近。財務負債的公允價值(就披 露目的)按未來合約現金流量以本集團類似金 融工具可得的現有市場利率貼現估計(除非貼 現的影響輕微)。