|Unit||Mil. HKD, NSA|
|Adjustments||Not Seasonally Adjusted|
|Source||Census and Statistics Department Hong Kong Special Administrative Region (HKSARG)|
|Release||Government Finance - Quarterly|
There is no level of government below that of the Hong Kong SAR.
Data is disseminated in Hong Kong dollars. Data disseminated on a monthly basis includes the revenue, expenditure, the balance (deficit/surplus), and financing of the balance broken down by domestic banking sector, non-bank sector and external sector. Component details of revenue and expenditure data including interest payments, if any, are also disseminated quarterly and annually.
The concepts and definitions of the general government operations statistics are generally in conformity with the Government Finance Statistics Manual 1986, except that repayments of Government Bonds and Notes issued in July 2004 are included as expenditure.
For more information, please refer to: http://www.imf.org/external/pubs/ft/gfs/manual/1986/eng/index.htm
The relevant statistics form the basis in the preparation of the “Accounts of the Government of the Hong Kong SAR” (Accounts) which are cash-based and compiled in accordance with the relevant provisions of the Public Finance Ordinance and the Audit Ordinance. The Accounts follow, as far as practicable, the generally accepted accounting principles as applied to cash-based accounting and the relevant accounting standards in Hong Kong
The “Accrual-based consolidated financial statements of the Government of the Hong Kong SAR” (Statements), published as a supplement to the cash-based accounts, consolidate the accounts of the Government and Government-owned entities. They aim to present the overall financial performance and position of the Government. The Statements are compiled by drawing on the relevant International Public Sector Accounting Standards as far as practicable.
Extra budgetary items such as advance accounts, suspense accounts and deposit accounts are included. Payments under social security schemes such as the Comprehensive Social Security Assistance Scheme and the Social Security Allowance Scheme are included in government expenditure.
General government revenue and expenditure do not include those of the trading funds and the Hong Kong Monetary Authority.
Data of the cash-based accounts are compiled on a cash basis. Transactions are recorded on the basis of actual amounts received or paid, whether they relate to recurrent or capital transactions.
In addition, there is a set of supplementary consolidated annual financial statements compiled on accrual basis.
No adjustment is made for the difference in price levels of different financial years.
The data are final when first released. Revisions are made as and when errors are found or a different policy or method is adopted. Any revisions made to the monthly data are reflected in the accounts of the subsequent month. Any revisions made to the annual data are reflected in the accounts of the respective year. Revisions are explained in the notes to the accounts at the time as the accounts are published.