Construction Industry Council - Annual Report 2024

ANNUAL REPORT 2024 195 HIGHLIGHTS OF AUDITED FINANCIAL STATEMENTS FOR 2024 Investment and interest income for 2024 increased to $108.89 million (2023: $86.31 million). The increase was mainly due to higher interest rate for HKD fixed deposit and increase in cash reserve arising from enhancement in levy and treasury operation. Other income of $199.76 million in 2024 (2023: $188.19 million) mainly comprised of the reimbursement income of trainees’ allowances from the Government under various schemes, including Intermediate Tradesman Collaborative Training Scheme (“ITCTS”), Construction Industry Council Approved Technical Talents Training Programmes (“CICATP”), Enhanced Construction Manpower Training Scheme (“ECMTS”), as well as support on promotion campaign, CSILQ income and other miscellaneous income. The increase in other income in 2024 was mainly contributed by increase in CSILQ income and reimbursement income from CICATP. Total expenditure of CIC in 2024 was $1,749.04 million, an increase of $108.86 million or 6.6% against $1,640.18 million in 2023. 1,640.18 1,749.04 2,000 1,200 800 400 1,600 0 2023 2024 CIC Expenditure for Year 2023 and 2024 Amount (HK$’m) Year Other expenditure* Advertising and publicity expenses Relief measures for COVID-19 Repair and maintenance expenses General and administrative expenses Training expenses Workshop expenses Staff costs * Other expenditure includes depreciation and net impairment losses on levy receivables Staff costs amounted to $631.33 million in 2024 (2023: $546.31 million). The increase of 15.6% was mainly due to addition of new headcounts and the annual salary adjustment.