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On Top of Our Game 84
Financial Statements

Notes to Financial Statements

31 March 2014

5 RELATED PARTY TRANSACTIONS (cont’d)

Compensation of key management personnel
The remuneration of key management personnel during the financial year were as follows:

2014 2013
$ $

Short-term benefits and salaries paid to directors and above 2,291,770 2,694,649
Allowances paid to non-executive Commission members 65,111 68,220

2,356,881 2,762,869

6 CASH AND CASH EQUIVALENTS

2014 2013
$ $

Cash with Accountant-General’s Department (“AGD”) 18,312,820 16,387,423
Deposits with AGD 1,656,159 3,333,374
19,968,979 19,720,797

Cash and cash equivalents are denominated in Singapore dollars. The weighted average effective interest
rates range between 0.54% to 0.70% (2013 : 0.55% to 0.63%) per annum.

With effect from April 2010, cash is placed with AGD under the Centralised Liquidity Management (“CLM”)
scheme. This scheme involves placing funds directly with the AGD for cost efficiency and better credit risk
management.

7 OTHER RECEIVABLES

2014 2013
$ $
Interest receivable 46,163 38,699
Other receivables 56 12,915
46,219 51,614