Financial Highlights

	2018/19 HK$ million	2017/18 HK$ million	Changes %
Total Income	708.6	596.8	19
Total Expenditure	701.4	588.4	19
Surplus/(Loss)	7.2	8.4	(14)

Income

The allocation from the Elite Athletes Development Fund (“EADF”) is the HKSI’s main source of income. Total EADF allocation received by the HKSI in 2018/19 was HK$596.2 million (2017/18: HK$520.4 million), of which HK$102.6 million is designated to “Direct Financial Support to Athletes” (“DFS”), and the balance of HK$493.6 million is the funding for Elite Training Programme and the HKSI’s operation.

Expenditure

Total expenditure for 2018/19 was HK$701.4 million, of which 79% (2017/18: 75%) of the expenditure was on Elite Training Programme and DFS. The increase in the number of elite athletes, enhanced support (financial, educational and personal development) for elite athletes, and the pilot scheme for Disability Sports and enhancement programme for team-only sports which were introduced in the 2017 Policy Address, all contributed to the increase in the 2018/19 elite training expenditure and total expenditure.

Surplus

By allocating resources strategically and taking a prudent approach to expenditure spending, the HKSI achieved a surplus of HK$7.2 million in 2018/19, which was transferred to general reserve.