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8. Financial Review
D. Programme expenses
1. Resident Graduate Scholarship Programme 90,625.00
2. Summer Study Programmes 34,681.60
Total programme expenses 125,306.60
E. Publication expenses 14,072.00
Total expenditure (2) 3,109,456.65
Net surplus/ (deficit) for the year (3) = (1) - (2) (1,303,016.74)
Balance brought forward from last year (4) 3,609,282.15
Balance carried forward to next year (5) = (3) + (4) 2,306,265.41
77 HONG KONG BAPTIST UNIVERSITY | David C. Lam Institute for East-West Studies
