APPENDIX E GLOSSARY OF TERMS Note: Terms shown in bold italic are defined elsewhere in the glossary. |
| Capital expenditure. All expenditure charged to the Loan Fund, the Disaster Relief Fund, the Capital Works Reserve Fund and the Innovation and Technology Fund plus expenditure from General Revenue Account on Plant, Equipment and Works and Capital Subventions, excluding transfers to funds. It does not include advances and equity investments made from the Capital Investment Fund. Capital revenue. All revenue credited to the Funds and the exceptions listed under recurrent revenue. Cash surplus/deficit. The difference between total Government revenue and total Government expenditure. Consolidated surplus/deficit. Cash surplus/deficit after advances and equity investments from the Capital Investment Fund. Fiscal reserves. The accumulated balances of the General Revenue Account (including the Land Fund) and Funds. They are also known as Government reserves. Funds expenditure. Expenditure charged to the Capital Works Reserve Fund, the Loan Fund, the Disaster Relief Fund, the Capital Investment Fund and the Innovation and Technology Fund. Transfers to or from the Funds are not relevant to the level of expenditure. Funds revenue. All receipts, except transfers from General Revenue Account, which are credited
directly to the Funds. These comprise: - Capital Works Reserve Fund donations for projects Loan Fund loan repayments received Capital Investment Fund repayments received Disaster Relief Fund investment income Civil Service Pension Reserve Fund investment income Innovation and Technology Fund loan repayments received For the purpose of the Medium Range Forecast, investment income of the Land Fund is classified as General Revenue Account revenue. General Revenue Account expenditure. All expenditure charged to General Revenue Account in accordance with the Appropriation Ordinance, excluding Transfers to Funds. General Revenue Account revenue. All receipts credited to any of the revenue heads, excluding Transfers from Funds. For the purpose of the Medium Range Forecast, the investment earnings of the Land Fund are consolidated with the General Revenue Account revenue. In 2000-2001 and 2001-2002, this excludes exceptional receipts arising from a partial floating of the Mass Transit Railway Corporation (see note (b) under Appendix A paragraph 10). Government expenditure. The aggregate of operating expenditure and capital expenditure. It is not the same as public expenditure. Government revenue. The aggregate of Funds revenue and General Revenue Account revenue, including exceptional receipts arising from a partial floating of the Mass Transit Railway Corporation in 2000-2001 and 2001-2002. Operating expenditure. All expenditure from General Revenue Account charged to any of the subheads listed in the estimates under 'Recurrent Account', plus Other Non-Recurrent expenditure. Operating surplus/deficit. The difference between General Revenue Account revenue and General Revenue Account expenditure. Public expenditure. Government expenditure plus: -
It is also referred to as Consolidated Public Sector expenditure. Recurrent revenue. All revenue credited to General Revenue Account, excluding Transfers from Funds and the following:-
Exceptional receipts arising from a partial floating of the Mass Transit Railway Corporation in 2000-2001 and 2001-2002 are also treated as capital revenue. Taxation earnings and profits tax |
