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Competition Commission of Singapore 89
Annual Report 2013/14
Notes to Financial Statements
31 March 2014
16 OPERATING GRANTS
2014 2013
$ $
Grants received from government during the year 14,560,400 14,392,200
Transfer to deferred capital grants (Note 12) (414,474) (583,340)
Others - (32,939)
14,145,926 13,775,921
17 FINANCIAL PENALTIES
All financial penalties collected by the Commission are paid into the Consolidated Fund in accordance with
Section 13(2) of the Competition Act, Chapter 50B. The following financial penalties collected during the
financial year are not included in the financial statements of the Commission.
2014 2013
$ $
Financial penalties collected 462,777 1,167,951
18 CAPITAL COMMITMENTS
Capital commitments
Capital expenditure contracted for at the end of the reporting period but not recognised in the financial
statements is as follows:
2014 2013
$ $
Capital commitments in respect of computer systems 51,419 381,634
Operating lease commitments
Minimum lease payments under operating leases recognised
as an expense 1,127,554 973,221
Minimum lease payments under operating leases recognised as an expense represent rentals payable by
the Commission for its office premises of $1,101,614 (2013 : $957,671) and office equipment under operating
leases of $25,940 (2013 : $24,876).
Annual Report 2013/14
Notes to Financial Statements
31 March 2014
16 OPERATING GRANTS
2014 2013
$ $
Grants received from government during the year 14,560,400 14,392,200
Transfer to deferred capital grants (Note 12) (414,474) (583,340)
Others - (32,939)
14,145,926 13,775,921
17 FINANCIAL PENALTIES
All financial penalties collected by the Commission are paid into the Consolidated Fund in accordance with
Section 13(2) of the Competition Act, Chapter 50B. The following financial penalties collected during the
financial year are not included in the financial statements of the Commission.
2014 2013
$ $
Financial penalties collected 462,777 1,167,951
18 CAPITAL COMMITMENTS
Capital commitments
Capital expenditure contracted for at the end of the reporting period but not recognised in the financial
statements is as follows:
2014 2013
$ $
Capital commitments in respect of computer systems 51,419 381,634
Operating lease commitments
Minimum lease payments under operating leases recognised
as an expense 1,127,554 973,221
Minimum lease payments under operating leases recognised as an expense represent rentals payable by
the Commission for its office premises of $1,101,614 (2013 : $957,671) and office equipment under operating
leases of $25,940 (2013 : $24,876).
