93 / 100
2016
2015
$
$
Ministries and Statutory Boards
Operating grants received from government
15,171,000
14,696,100
Office premises lease
1,245,557
1,245,557
Other grants received
160,491
2,300
Computer and IT related expenses
74,338
141,284
Transfer of plant and equipment from other government agency
-
21,827
2016
2015
$
$
Cash with Accountant-General’s Department (“AGD”)
17,566,884 18,044,689
Deposits with AGD
2,134,775
1,558,819
19,701,659 19,603,508
2016
2015
$
$
Short-term benefits and salaries paid to directors and above
2,882,776
2,383,318
Allowances paid to non-executive Commission Members
90,000
72,359
Professional fees paid to a non-executive Commission Member
90,400
-
3,063,176
2,455,677
NOTES TO FINANCIAL STATEMENTS
5
RELATED PARTY TRANSACTIONS
Some of the Commission’s transactions and arrangements are with related parties and the effect of these on the
basis determined between the parties is reflected in these financial statements. The balances are unsecured,
interest-free and repayable on demand unless otherwise stated.
Nature and amount of individually significant transactions
The Commission leases an office premise fromUrban Redevelopment Authority (“URA”). In addition, the Commission
obtains information technology services from Infocomm Development Authority of Singapore (“IDA”).
Compensation of key management personnel
The remuneration of key management personnel during the financial year were as follows:
Cash and cash equivalents are denominated in Singapore dollars. The weighted average effective interest rates range
between 1.06% to 1.46% (2015 : 0.74% to 0.99%) per annum.
With effect fromApril 2010, cash is placedwith AGD under the Centralised LiquidityManagement (“CLM”) scheme. This
scheme involves placing funds directly with the AGD for cost efficiency and better credit risk management.
6
CASH AND CASH EQUIVALENTS
31 MARCH 2016
91
CCS ANNUAL REPORT 2015-2016
FINANCIAL STATEMENTS