HONG KONG MONETARY AUTHORITY Annual Report 1996
NOTES ON THE ACCOUNTS*
17. OTHER LIABILITIES
Other liabilities comprise expenses accrued at the year end, which include interest payable on Exchange Fund Notes and on the balances due on the Fiscal Reserves Account, and the difference between the market value and the nominal value of the Fiscal Reserves Account.
18. STAFF RETIREMENT SCHEME
The Monetary Authority operates a defined contribution scheme, under which contributions applicable each year are charged to the Income and Expenditure Account. Contributions to this staff retirement scheme amounted to $16.5 million in 1996 (1995 - $15.1 million). The assets of the staff retirement scheme are held separate from the Exchange Fund.
19. CAPITAL COMMITMENTS
Capital expenditure approved but not provided for in these accounts amounted to:
| 1996 HK$ million | 1995 HK$ million |
||||
|---|---|---|---|---|---|
| Contracted |
19
|
64
|
|||
| Not contracted |
99
|
90
|
|||
| Total capital commitments | 118 | 154 |