Finance

This article draws primarily from The University of Hong Kong's (HKU) official Annual Report and Extract from the University's Annual Accounts, tracing the University's annual consolidated income/expenditure, surplus, reserves, and income structure. This entry belongs to the 00–12 Reference Zone (factual). Figures are recorded as reported, with no credibility badge applied.

Reporting convention: HKU's financial year runs from 1 July to 30 June (e.g., "2023–24" denotes 1 July 2023 to 30 June 2024). Figures given here mainly adopt the University's consolidated (Group) basis, in Hong Kong dollars (HK$). Where precise sums appear, the financial year and official source are indicated. Readers citing these figures should treat the original HKU Annual Report / financial statements as definitive.

# 1. Annual consolidated income and expenditure (2023–24)

Based on the HKU Extract from the University's Annual Accounts 2023–24^※ (consolidated Group basis):

According to the HKU Annual Accounts^※, consolidated expenditure in 2023–24 rose by approximately 6% year on year to HK$12,996 million. Within this, spending on teaching, learning and research climbed from HK$8,877 million to HK$9,615 million. Total comprehensive income (surplus) rose from HK$1,961 million in 2022–23 to HK$3,918 million in 2023–24 — nearly doubling — driven primarily by a recovery in investment returns and income growth (see below).

# 2. Income structure (2023–24)

Based on the HKU Extract from the University's Annual Accounts 2023–24^※ and the HKU Annual Report ebook^※, the main income components for 2023–24 are:

# 2.1 Government subventions (UGC): the largest and most stable single source

The University of Hong Kong is a publicly funded statutory university supported by the University Grants Committee (UGC)^※. UGC grants have long been HKU's largest and most stable single income source. In 2023–24, government subventions stood at HK$7,038,863 thousand^※, representing approximately 41.7% of consolidated income of HK$16,892 million — a share below half, reflecting the growth of diversified income from tuition, investments, and donations.

For the overall UGC funding framework, allocations to individual institutions, and a cross-institutional comparison of Hong Kong's eight publicly funded universities, consult the UGC's official statistics^※.

# 2.2 Tuition and programme fees

Tuition, programmes and other fees amounted to HK$5,650,103 thousand^※ in 2023–24, a marked increase from HK$4,813,732 thousand the previous year. This figure includes UGC-funded programme fees as well as income from self-financed programmes and taught postgraduate courses. For the fee levels of specific programmes, see the Admissions module (02-admissions).

# 2.3 Investment returns: the surplus "amplifier"

Net interest and investment gain is the main source of year-on-year surplus volatility at HKU. According to the HKU Annual Accounts^※, this line leapt from HK$456,007 thousand in 2022–23 to HK$1,627,001 thousand in 2023–24 — an increase of more than HK$1.1 billion in a single year, directly propelling the surplus to nearly double. Investment returns swing widely with financial market performance.

# 2.4 Donations & benefactions

Donation income in 2023–24 totalled HK$917,398 thousand^※. HKU advances its development through its Alumni Affairs and Development Office, the Hong Kong Government Matching Grant Scheme, and major private benefactions. For historical and contemporary major gifts, see Benefactors & Named Donations.

# 3. Expenditure structure (2023–24)

According to the HKU Annual Accounts^※, consolidated expenditure for 2023–24 was HK$12,996 million. Teaching, learning and research constituted the largest spending block, reaching HK$9,615 million, up from HK$8,877 million the previous year.

As with other UGC-funded institutions in Hong Kong, staff costs are perennially the single largest item of expenditure — the biggest and most rigid annual expense is academic and non-academic staff remuneration. For the detailed breakdown (staff costs, premises maintenance, student services, etc.), refer to the full tables in the HKU Annual Accounts.

# 4. Assets and net reserves

Based on the HKU Extract from the University's Annual Accounts 2023–24^※, as at 30 June 2024:

HKU's total funds/net reserves grew from approximately HK$31.94 billion in 2022–23 to approximately HK$35.86 billion in 2023–24, reflecting the accumulation of the year's surplus of HK$3,918 million. HKU also maintains an endowment and various designated-purpose funds. For detailed classifications, refer to HKU Quick Stats (Finance)^※ and the notes to the annual financial statements.

# 5. Not found / To be verified

• Year-by-year precise endowment total: The HKU Annual Accounts present "Total funds / reserves" on a combined basis. A stand-alone "total endowment" figure is not separately disclosed at the million-HK$ level of precision in the published Annual Accounts extract. Marked as to be verified; consult the notes to the full HKU Finance Office statements.
• Line-item breakdown of "Other income, net": Certain sub-totals are not disaggregated in the Accounts extract and appear as a residual balance; the full Annual Report tables should be checked.

# See also

• Benefactors & Named Donations — major gifts and naming benefactions
• Admissions module (02-admissions) — tuition fee levels
• Alumni Network & Advancement (06-people) — matching grants and fundraising