annual report - Sembawang Town Council

Transcription

FY 2014 - 2015
ANNUAL
REPORT
SEMBAWANG
TOWN COUNCIL
CONTENTS
03 Members of Parliament
04 Town Councillors
06 Chairman’s Review
08 Finance
09 Estate Maintenance and
Town Council Management Report
10 Cyclical Works
12 Town Improvement Projects
14 Upgrading Programmes
16 Clean and Green Energy
18 Clean and Green Efforts
20 Communication with Residents
21 Service Delivery
22 Looking Ahead
II
Sembawang Town Council
Annual Report FY 2014/2015
1
Members Of Parliament
1 April 2014 to 31 March 2015
2
Mr Khaw Boon Wan
Mr Hawazi Daipi
Minister for National
Development
MP for Sembawang GRC
Senior Parliamentary Secretary
For Education and Manpower
MP for Sembawang GRC (Marsiling)
Chairman of Sembawang Town Council
Ms Ellen Lee Geck Hoon, PBM
Mr Vikram Nair
Mr Ong Teng Koon
(Woodlands)
Vice-Chairman of
(Admiralty)
Vice-Chairman of
(Woodgrove)
3
Town Councillors
1 April 2014 to 31 March 2015
Contracts And
Legal Committee
4
Estate Maintenance
Committee
Finance
Committee
Projects And
Development Committee
Publicity And Public
Relations Committee
1
2
3
1
2
3
1
2
1
2
3
1
2
3
4
5
6
4
5
6
3
4
4
5
6
4
5
6
7
8
9
7
8
9
5
6
7
8
9
7
8
9
7
8
1. Mr Cheong Khim Teck, JP, BBM(L) (Chairman)
1. Mr Law Shun Yong, BBM(L) (Chairman)
2. Mr Ho Siu Hong Ivan, PBM (Co-Chairman)
2. Mr Shaw Kar Seng Bob, BBM (Co-Chairman)
3. Mr Bakerche Bin Mohamed, BBM
3. Mr Lim Seng Min, PBM
4. Mr Chua Sook Yong, BBM
4. Mr Mohamad Hashim Bin Mohd Shah
5. Mr Goh Peng Hong, BBM
5. Mr Sim Kin Chye, PBM
6. Mr Johari Bin Ahamad, PBM
6. Mr Toh Hong Hua John, PBM
7. Mr Malik Bin Maksudi, PBM
7. Mr Thor Wan Kwee, PBM
8. Mr Soh Choon Heng Philip, PBM
8. Ms Tang Lea Keow, Irene
9. Mr Tan Yan Boon Alex, PBM
9. Mdm Teo Geok Kuan, Betty, PBM
1. The Late Mr Reggie Thein, PBM
(Chairman from 1 April to 22 June 2014)
1. Mr Oh Thai Nan Tonic, BBM (Chairman)
1. Mr Sim Yeow Kwee David, BBM (Chairman)
2. Dr Ting Seng Kiong (Chairman)
2. Mr Lim Kim Hoe Adrian, PBM (Co-Chairman)
2. Mdm Lee Tee Choon, BBM (Co-Chairman)
3. Mr Adrian Rennie Pereira, PBM
3. Mr Chng Hee Siah Alan, PBM
4. Ms Gay Meng Choo, PBM
4. Mr Chew Huang Jia, Corwin
5. Mr Neo Bee Kiong, Francis
5. Mr Chong Wei Hian Thomas
6. Mr Ouh Yew Thiam, Raymond
6. Mr Mohamed Razaleigh Bin Mohamed Saem
7. Mr Soon Tawn S/O Tawin, PBM
7. Mr Omer Farook S/O Sevatha Maricar, BBM
8. Mr Toh Siaw Hua, PBM
8. Ms Ong San San, PBM
9. Mr Wong Kok Wye Allen, PBM
9. Mr Zulkifli Bin Redwan
3. Mr Chew Meng Hui, Winston
4. Mr Heng Cheong Leng Richard, PBM
5. Mr Koh Hock Thye Sam, PBM
6. Mr Khoo Lam Beng Kelvin, PBM
7. Mdm Loh Ai Pheng Adalene, PBM
8. Mdm Tan Mon Fui Edna, PBM
5
Chairman’s Review
Various upgrading and town improvement
projects were carried out during the financial
year with the needs of our community in mind.
Improving our standards of maintenance and
cleanliness has always been the priority of our
Town Council, as reflected in the results of the
Town Council Management Report (TCMR) for
this financial year.
Tree Planting Day
at Marsiling division
Aside from the management of estates, we
also sought to innovate for new ways which
would allow us to add value to our estates. The
installation of solar panels and LED lights are two
examples which have enabled us to contribute
positively to our environment, while helping
Town Council to achieve cost savings.
It has been our vision to build a resident-centric
Town Council. Much effort has been put in to
enhance our services to our residents. New
initiatives were launched and existing service
operations were reviewed to improve our
services and enhance our communications with
our residents.
Marsiling National Day Dinner
Community Sports Festival 2015
Opening of Marsiling Sports Park during
Marsiling Community Day 2015
6
SG50 Green Harvest
7
Estate Maintenance
and Town Council
Management Report
Finance
In FY2014/15, Sembawang Town Council had an
operating surplus of $3.7 million.
S&CC revision was effected on 1 April 2014 due to
rising costs over the last ten years. The revision
had helped Town Council meet the emerging
needs of our residents. As steward of residents’
funds, we will continue to adopt a prudent
approach to ensure that our financial position
continues to remain healthy.
As of 31 March 2015, our Town Council has a
sinking fund of $180 million and an accumulated
surplus of $7.6 million.
Collection Centre,
Woodlands Civic Centre
On S&CC arrears, our Town Council has been
able to keep our arrears low. As of 31 March
2015, arrears cases for three months and above
forms 3% of the total number of units under
management. Special efforts have been made
by our town councillors, grassroots leaders and
staff to conduct joint house visits to identify and
assist households in arrears.
Through the collective efforts of our residents,
town councillors, grassroots leaders and staff,
Sembawang Town Council continues to achieve
Green band across all five categories in the
TCMR: Lift Performance, Estate Cleanliness,
Estate Maintenance, S&CC Arrears Management
and Corporate Governance.
Block cleaning with a Long Lance
High-Pressure Washer
Collection Counter,
Woodlands Office
8
The Town Council is ever mindful that our top
priority is to ensure that our estates are clean and
well maintained for the wellbeing of our residents.
In addition to regular reviews of our policies,
methods and operational procedures, the Town
Council continues to seek ways to capitalize on
new technologies and innovations available to
enhance our standard of maintenance, efficiency
and service quality.
Our Town Council will continue to look for ways
to improve the various aspects of our operations
to bring about better services to our residents.
Keeping our home
clean and green
9
Cyclical Works
Cyclical works are an important means to ensure
that our estates remain in good condition for our
residents. These works, which include repairs
and redecoration (R&R), re-roofing, replacements
of lifts, pumps and pipes, are carried out on a
scheduled and consistent basis.
The year’s expenditure on cyclical works was
$17.3 million. R&R works, which were carried
out in 160 blocks, accounted for about 40% of
the total expenditure. This was accompanied
by lift works at $4 million and other cyclical
works such as re-roofing, electrical rewiring
and pump replacement.
Repainted:
Block 584 to 589 Woodlands Drive 16
Repainted:
Block 505 Woodlands Drive 14
Repainted:
Block 584 to 589 Woodlands Drive 16
10
Repainted:
Block 122 to 143 Marsiling Road
11
Town Improvement
Projects
Town Improvement Projects are undertaken
after consultation with grassroots organisations
and residents, with the objective of ensuring that
these projects will better meet the needs of our
residents.
For FY14/15, a total of $3.3 million was invested in
town improvement projects. This year’s projects
were geared towards enhancing the community
lifestyle of our neighbourhood, with $1.3 million
being spent on the upgrading of playgrounds,
fitness and senior fitness corners, reconstruction
of a basketball court and the construction of
community gardens. A further $1 million was
invested in the construction of covered walkways
between blocks and bus stops to improve
connectivity within our neighbourhood for the
convenience of our residents.
New playground at
Block 780 Woodlands Crescent
This financial year also saw the completion of
the Marsiling Community Sports Park under the
Large-scale Town Wide (LSTW) Project. Equipped
with a basketball court, a soccer street court and
three badminton courts, residents can now enjoy
a variety of sporting choices. Besides supporting
a vibrant sporting culture, these facilities will also
help promote bonding among our residents.
Reconstruction of Basketball Court
near Block 806 Woodlands Street 81
12
Upgraded fitness corner near
Block 551 Woodlands Drive 44
New Marsiling Community Sports Park
(next to Marsiling Community Club)
Upgraded elderly fitness corner
near Block 798 Woodlands Drive 72
13
Upgrading
Programmes
The Neighbourhood Renewal Programme (NRP)
injects a fresh lease of life in our Town with
new and improved facilities and amenities to
better cater to our residents’ needs. This year,
$6.2 million was invested to construct dropoff porches, pavilions for community use and
barbeque pits. Existing fitness corners and
children’s playgrounds were also upgraded.
Community Plaza 4 at Blk 123 to 131 Marsiling Rise
as part of NRP at Marsiling/Woodgrove divisions
BBQ Pit at Block 152
Woodlands Street 13
Drop Off Porch at Block 160, 162
Woodlands Street 13
The NRPs at two precincts in Marsiling Division
have been successfully completed. NRPs at a
further two precincts in Marsiling and Woodgrove
Divisions are also currently on track for scheduled
completion. Another precinct in Woodlands
Division has also been selected for NRP
upgrading. These changes in our neighborhood
will certainly bring greater convenience and
enjoyment for our residents.
Upgraded fitness corner at
Block 154 Woodlands Street 13
Upgraded playground near
Block 334 Woodlands Avenue 1
14
15
Clean and
Green Energy
In this financial year, Sembawang was one of the
four towns in Singapore selected to carry out
solar panel installations in its HDB blocks. The
solar energy that is generated from these panels
will be used to power services in the common
areas of the HDB blocks, and these include the
lifts, staircase lighting and water pumps. A total
of 194 blocks were involved in this solar leasing
programme with no capital cost from the Town
Council. When completed, the solar leasing
programme is expected to save our Town Council
some $600,000 a year in electricity costs.
Apart from the solar leasing programme, Town
Council has also completed the installation of
LED lights at the common areas of 203 blocks
in this financial year. This is in addition to the
315 blocks completed in 2012. In all, these LED
projects have helped Town Council save half a
million in electricity tariffs.
Town Council has also leveraged on the
liberalization of the electricity retail market,
involving a total of 320 blocks. This had helped
Town Council save another $300,000 a year in
electricity costs.
Solar Panels at Block
824/825 Woodlands Street 81
16
Solar Panels at Block 786F
Woodlands Drive 60
17
Clean and
Green Efforts
Sembawang
Cleaners’ Appreciation Day
Being both clean and green is always an important
concern for Sembawang Town Council. In our
Tree Planting Day held in November 2014, we
combined the best of both worlds by planting
trees, picking litter and honouring the cleaners in
our GRC.
Our MPs and residents worked hand in hand to
plant new trees across each division, allowing
us to give back to our environment in a positive
manner. We also combed our divisions in a litterpicking exercise, working together to keep our
Town clean.
Tree Planting Day
Admiralty
Woodgrove
Tree Planting Day was also an occasion where
we honoured an integral group of people who
support the Town Council’s work: our cleaners.
A total of 25 cleaners were presented with the
‘Best Cleaner’ Awards. They received cash prizes,
tokens of appreciation and certificates for all their
tireless efforts in keeping our neighbourhood
clean.
Tree Planting Day
Marsiling
Woodlands
Tree Planting Day
18
Tree Planting Day
Tree Planting Day
19
Service Delivery
Communication
with Residents
In the last financial year, we have enhanced our
channels of communication with our residents
so that we may be able to better meet their
needs. This has been done through multiple
ways. We launched our newly revamped website
in late 2014, which combines functionality and
aesthetics, allowing our residents to access
necessary information with increased ease. Also,
we made the transition from iShare to iTown
in July 2014, a smartphone application through
which our residents can send in their feedback
for our prompt follow up.
Kampung Sembawang Facebook Page
Much effort has been put in to enhance our service
delivery to our residents. Since January this year,
Town Council has implemented a “Continual
Service Learning” Programme. We set aside half
a day in a month to learn and re-learn service
delivery skills, brainstorm new ideas, and share
from our ground experience on service delivery.
Through such regular training/sharing sessions and
other programmes and enhancements, we hope to
build a customer-centric Service Culture among our
Town Council staff.
Sembawang Town Council Facebook Page
In an age in which communication is almost
always instantaneous, we have embraced the
need for a strong social media presence. Our
Facebook pages – Sembawang Town Council
and Kampung Sembawang – have enabled
us to connect to our residents on a daily basis
with a combined fan base of 16,000. These two
Facebook pages further enhance our services to
the residents in our GRC; they have become an
online platform where residents come together
to share and bond as a community.
Monthly Service Learning Sessions
to continually improve Town
Council services to residents
Sembawang Town Council’s
newly revamped website
iTown Mobile
Application
20
21
Looking Ahead
Live, work and play will totally take on a new
meaning in the near future in Woodlands and
Sembawang Towns. Residents can look forward
to a multitude of developments in Woodlands
Regional Centre. It is primed to be a waterfront
town, a northern gateway to Singapore.
Sembawang Town Council looks forward to
the many new developments in Sembawang
GRC in the next five to ten years. We will
continue to improve our services and enhance
our communications with our residents while
ensuring that our estates are clean and well
maintained. We will also continue to upgrade
and improve our estate facilities in keeping pace
with the new developments in Woodlands and
Sembawang Towns.
Woodlands North Coast
An integrated transport hub at the heart of the Woodlands North Coast
will house offices, shops, and restaurants above a bus interchange.
I would like to thank all our town councillors,
grassroots leaders and staff for their
contributions, ideas and active participation in
the running of the Town Council. I would also
like to thank our residents for their feedback and
support.
With the concerted efforts from all parties, I
have no doubt that we can achieve even more
together and make Sembawang and Woodlands
Towns a better home for all our residents.
Kampung Admiralty
An integrated development will combine housing, healthcare, eldercare
facilities and shops amid lush greenery, functioning as a ‘modern kampung’.
Hawazi Daipi
Chairman
Sembawang Community Hub
The future Sembawang Community Hub brings together a
cluster of sports and community amenities and services for all.
22
An Exciting and Green Gateway to Singapore
Primed to be a waterfront metropolis, residents
can look forward to a multitude of developments
in Woodlands Regional Centre.
Tree Trails @ Woodlands
More housing estates of all shapes and sizes will be added to the
landscape of our GRC.
23
(Formerly known as Sembawang-Nee Soon Town Council)
(Established under the Town Councils Act, Chapter 329A)
FINANCIAL
STATEMENTS
31 March 2015
24
25
General Information
Independent Auditor’s Report
For the financial year ended 31 March 2015
To the Members of the Sembawang Town Council
Address
Report on the financial statements
Block 306A Woodlands Street 31
#02-00
Singapore 731306
We have audited the accompanying financial statements of Sembawang Town Council (the “Town Council”), which comprise the balance
sheet as at 31 March 2015, and income and expenditure statement, the statement of comprehensive income, statement of changes in
Town Council funds and cash flow statement for the financial year then ended, and a summary of significant accounting policies and other
explanatory information.
Address
Management’s responsibility for the financial statements
Ernst & Young LLp
Management is responsible for the preparation and fair presentation of these financial statements in accordance with the provisions of the Town
Councils Act, Chapter 329A (the “Act”) and Singapore Financial Reporting Standards, and for such internal control as management determines
is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with
Singapore Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free from material misstatement.
Index
Page
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair
presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the
financial statements.
27
Balance Sheet
29
Income and Expenditur Statement
31
Statement of Comprehensive Income
32
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Statement of Changes in Town Council Funds
33
Opinion
Cash FLow Statement
34
Notes to the Financial Statements
35
In our opinion, the financial statements are properly drawn up in accordance with the provisions of the Act and Singapore Financial Reporting
Standards to present fairly, in all material respects, the financial position of the Town Council as at 31 March 2015 and of the financial performance,
changes in Town Council funds and cash flows of the Town Council for the financial year ended on that date.
Management’s responsibility for compliance with legal and regulatory requirements
Management is responsible for ensuring that the receipts, expenditure, investment of moneys and the acquisition and disposal of assets, are
in accordance with the provisions of the Act. This responsibility includes implementing accounting and internal controls as management
determines are necessary to enable compliance with the provisions of the Act.
26
27
To the Members of the Sembawang Town Council
Report on the financial statements (continued)
Auditor’s responsibility
Our responsibility is to express an opinion on management’s compliance based on our audit of the financial statements. We conducted
our audit in accordance with Singapore Standards on Auditing. We planned and performed the compliance audit to obtain reasonable
assurance about whether the receipts, expenditure, investment of moneys and the acquisition and disposal of assets, are in accordance with
the provisions of the Act.
Our compliance audit includes obtaining an understanding of the internal control relevant to the receipts, expenditure, investment of moneys
and the acquisition and disposal of assets; and assessing the risks of material misstatement of the financial statements from non-compliance, if
any, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Because of the inherent limitations in
any accounting and internal control system, non-compliances may nevertheless occur and not be detected.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on management’s
compliance.
Balance Sheet
As at 31 March 2015
Note
2015
S$’000
2014
S$’000
TOWN COUNCIL FUNDS
Residential Property Funds
Accumulated surplus
Sinking Funds
Town Improvement and Project Funds
10
11
12
1,269
155,127
1,033
157,429
–
150,242
–
150,242
Commercial Property Funds
Accumulated surplus
Sinking Funds
10
11
12
5,672
24,352
29
30,053
4,101
24,566
897
29,564
Carpark Fund
Accumulated surplus
10
649
–
14
581
119
23
843
359
189,555
180,284
102,830
584
57,466
1,389
6,457
3,807
172,533
105,946
381
66,094
1,205
5,832
288
179,746
7,822
16,800
59
24,681
197,214
7,557
2,317
78
9,952
189,698
Neighbourhood Renewal Programme Fund
Fair Value Reserve
Sinking Funds
Total town council funds
Report on other legal and regulatory requirements
Opinion
In our opinion:
(a)
the receipts, expenditure, investment of moneys and the acquisition and disposal of assets by the Town Council during the financial year
are in all material respects, in accordance with the provisions of the Act; and
(b)
proper accounting and other records have been kept, including records of all assets of the Town Council whether purchased, donated
or otherwise.
Represented by:
Current assets
Cash and cash equivalents
Interest receivables
Financial assets at fair value through profit or loss
Conservancy and service fee receivables
Other receivables and prepayments
Held-to maturity financial assets
Non-current assets
Available-for-sale financial assets
Plant and equipment
Ernst & Young LLP
15
16
18
19
21
20
21
22
Total assets
Public Accountants and
Chartered Accountants
Singapore
14 August 2015
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
28
29
Balance Sheet
Income and Expenditure Statement
As at 31 March 2015
Note
Current liabilities
Conservancy and service fees received in advance
Creditors and accrued expenses
Current tax liabilities
Total liabilities
2015
S$’000
24
8(b)
Net assets
Note
2014
S$’000
628
5,596
1,435
7,659
616
6,841
1,957
9,414
189,555
180,284
OPERATING INCOME
Conservancy and service fees
Less: Operating income transfer to Sinking Funds
Agency fees
Other income
5
10(a)
Less: Operating expenditure
Cleaning work
Managing agent’s fees
Lift maintenance
Other works and maintenance
Water and electricity
General and administrative expenditure
6
7
Singapore
14 August 2015
30
41,180
(14,296)
26,884
4,288
3,228
34,400
(7,860)
(4,816)
(5,443)
(5,478)
(12,087)
(1,943)
(37,627)
(320)
(7,530)
(5,056)
(5,380)
(5,417)
(12,681)
(1,786)
(37,850)
(3,450)
34
–
DEFICIT BEFORE TAXATION AND GOVERNMENT GRANTS
Less: Income tax expense
8(a)
(286)
(334)
(4,033)
(303)
DEFICIT BEFORE GOVERNMENT GRANTS
Add: Government grants
Less: Transfer to Sinking Funds
Transfer to Town Improvement and Project Funds
9
9,11
9,12
(620)
9,745
(2,171)
(3,207)
4,367
(4,336)
9,342
(2,022)
(3,265)
4,055
3,747
4,101
–
(258)
(281)
11,436
(6,159)
(895)
7,590
4,101
10,13
10,12
Hawazi Daipi
Chairman
44
(627)
Soon Min Sin
Secretary
Singapore
14 August 2015
45,321
(15,650)
29,671
4,368
3,268
37,307
10,12
ACCUMULATED SURPLUS AT 31 MARCH
Soon Min Sin
Secretary
2014
S$’000
OPERATING DEFICIT
NON-OPERATING INCOME
Add: Interest income
Less: Town Improvement Works
SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR
Add: Accumulated surplus at 1 April
Less: Accumulated surplus transferred to Nee Soon Town Council
Accumulated surplus transferred to Town Improvement and Project Funds
Hawazi Daipi
Chairman
2015
S$’000
31
Statement of Comprehensive Income
Statement of Changes In Town Council Funds
Note
2015
S$’000
SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR
10
3,747
MOVEMENT OF VARIOUS FUNDS
Sinking Funds
11
12
14
4,671
(93)
462
8,787
2014
S$’000
Note
(281)
Balance as at 1 April 2013
(1,062)
(312)
(1,910)
(3,565)
OTHER COMPREHENSIVE INCOME
Item that may be reclassified subsequently to income
and expenditure statement
Fair value gain/(loss) on available-for-sale financial assets
20
484
256,726
TOTAL COMPREHENSIVE INCOME FOR THE
FINANCIAL YEAR ATTRIBUTABLE TO TOWN COUNCIL FUNDS
68
–
–
–
(432)
(432)
2,367
68
(1,910)
(432)
(3,997)
2,194
(104,588)
150,242
(1,530)
(34,695)
29,564
(664)
(517)
–
–
517
119
–
(597)
359
–
(139,880)
180,284
150,242
29,564
–
119
359
180,284
7,187
489
649
462
–
8,787
–
–
–
–
484
484
7,187
157,429
489
30,053
649
649
462
581
484
843
9,271
189,555
Total comprehensive income for the financial year
Transfer of accumulated surplus from Commercial
and Carpark to Residential activity
Surplus transferred to Nee Soon Town Council
Balance as at 31 March 2014
(4,090)
–
10
13
–
324,161
(3,565)
(432)
484
(432)
9,271
(3,997)
Surplus for the financial year
Other comprehensive income
Fair value gain on available-for-sale financial assets
Total comprehensive income for the financial year
Balance as at 31 March 2015
Hawazi Daipi
Chairman
2,367
(1,910)
1,388
Total
S$’000
1,113
(4,090)
1,512
Fair value
reserve
S$’000
63,422
(Deficit)/surplus for the financial year
Other comprehensive income
Fair value loss on available-for-sale financial assets
Balance as at 1 April 2014
OTHER COMPREHENSIVE INCOME FOR THE
FINANCIAL YEAR, NET OF INCOME TAX
Residential Commercial
Neighbourhood
property
property
Renewal
funds
funds
Carpark fund Programme Fund
S$’000
S$’000
S$’000
S$’000
Soon Min Sin
Secretary
Singapore
14 August 2015
32
33
Cash Flow Statement
Note
Operating activities
Deficit before taxation and government grants
Adjustments:
Operating income transfer to Sinking Funds
Interest income
Provision for impairment losses on held-to-maturity financial assets
Depreciation of plant and equipment
2015
S$’000
10
2014
S$’000
(286)
(4,033)
15,650
(34)
118
37
14,296
(44)
3
28
15,485
(774)
(1,220)
10,250
8,054
(10,710)
13,491
(17,281)
(3,300)
(6,190)
(1,237)
7,594
(18,440)
(3,577)
(6,974)
(1,000)
(14,517)
(22,397)
(18)
7
212
2,422
4,342
1,514
(2,806)
(52)
8
3,420
2,116
2,038
–
870
5,673
8,400
9
9,872
8,551
14
6,652
5,064
Net cash flows generated from financing activities
16,524
13,615
Net increase/(decrease) in cash and cash equivalents
Fund transferred to Nee Soon Town Council
Cash and cash equivalents at 1 April
7,680
–
81,676
(382)
(58,793)
140,851
89,356
81,676
10,11
10
21
22
Operating surplus before working capital changes
(Increase)/decrease in receivables
Decrease in payables
Cash flows generated from operations
Sinking Funds expenditure
Town Improvement and Project Funds expenditure
Neighbourhood Renewal Programme Fund expenditure
Taxes paid
11
12
14
Net cash flows used in operating activities
Investing activities
Purchase of plant and equipment
Return of capital from available-for-sale financial assets
Proceeds from redemption of available-for-sale assets
Proceeds from held-to maturity financial assets
Investments and interest income received
Realisation of cash funds held with fund managers
Net (decrease)/increase in funds with fund manager
22
20
20
11
Net cash flows generated from investing activities
Financing activities
Government grants received
Funding received from HDB for:
- Neighbourhood Renewal Programme projects
Cash and cash equivalents at 31 March
15
1.
General information
Sembawang Town Council was formed on 1 September 1990 under the Town Councils Act (Chapter 329A) and has its registered office
at Blk 306A Woodlands Street 31, #02-00, Singapore 731306.
The functions of the Town Council are to control, manage, maintain and improve the common property of residential, other commercial
property and market and food centres in the housing estates of the Housing and Development Board (“HDB”) within the Town.
2.
Summary of significant accounting policies
2.1
Basis of preparation
The financial statements of the Town Council have been prepared in accordance with the provisions of the Town Councils Act, Chapter
329A (the “Act”) and Singapore Financial Reporting Standards (“FRS”).
The financial statements have been prepared on a historical cost basis except as disclosed in the accounting policies below.
The financial statements are presented in Singapore dollars (“SGD” or “S$”) which is the Town Council’s functional currency. All financial
information presented in Singapore dollars has been rounded to the nearest thousand (“$’000”), unless otherwise stated.
2.2
Changes in accounting policies
The accounting policies adopted are consistent with those of the previous financial year except in the current financial year, the Town
Council has adopted all the new and revised standards which are effective for annual financial periods beginning on or after 1 April 2014.
The adoption of these standards did not have any significant effect on the financial performance or position of the Town Council.
34
35
2.
Summary of significant accounting policies (continued)
2.
2.3
Standards issued but not yet effective
2.3
Standards issued but not yet effective (continued)
The Town Council has not adopted the following standards that have been issued but not yet effective:
Except for FRS109, the Town Council expects that the adoption of the other standards above will have no material impact on the financial
statements in the period of initial application. The nature of the impending changes in accounting policy on adoption of FRS 109 is
described below.
FRS 109 Financial Instruments
In December 2014, the Accounting Standards Council Singapore (“ASC”) issued the FRS 109 Financial Instruments which reflects all
phases of the financial instruments project and replaces FRS 39 Financial Instruments: Recognition and Measurement. The standard
introduces new requirements for classification and measurement, impairment, and hedge accounting. FRS 109 is effective for annual
periods beginning on or after 1 January 2018, with early application permitted. Retrospective application is required, but comparative
information is not compulsory. The adoption of FRS 109 will have an effect on the classification and measurement of the Company’s
financial assets but no impact on the classification and measurement of the Company’s financial liabilities.
2.4
Plant and equipment
All items of plant and equipment are initially recorded at cost. Subsequent to recognition, plant and equipment are measured at cost less
accumulated depreciation and any accumulated impairment losses, if any. Depreciation is computed utilising the straight-line method
to write-off the cost of these assets over their estimated useful lives as follows:
Furniture, fixtures and fittings
Office equipment
Data processing equipment
An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected from its use
or disposal. Any gain or loss on de-recognition of the asset is included in profit or loss in the year the asset is derecognised.
Plant and equipment costing below S$1,000 each are charged to the Income and Expenditure Statement in the financial year of
purchase. Fully depreciated plant and equipment are retained in the books of accounts until they are no longer in use.
Depreciation methods, useful lives and residual lives are reviewed and adjusted as appropriate at the end of each reporting period as a
change in estimates.
Description
Amendments to FRS 19 Defined Benefit Plans: Employee Contributions
Effective for annual periods beginning on or after
1 July 2014
Improvements to FRSs
(a) Amendments to FRS 102 Share Based Payment
1 July 2014
(b) Amendments to FRS 103 Business Combinations
1 July 2014
(c) Amendments to FRS 108 Operating Segments
1 July 2014
(d) Amendments to FRS 16 Property, Plant and Equipment
1 July 2014
(e) Amendments to FRS 24 Related Party Disclosures
1 July 2014
(f) Amendments to FRS 38 Intangible Assets
1 July 2014
(g) Amendments to FRS 113 Fair Value Measurement
1 July 2014
(h) Amendments to FRS 40 Investment Property
1 July 2014
Improvements to FRSs (February 2014)
(a) Amendments to FRS 103 Business Combinations
1 July 2014
(b) Amendments to FRS 113 Fair Value Measurement
1 July 2014
Amendments to FRS 16 and FRS 41 Agriculture - Bearer Plants
1 January 2016
Amendments to FRS 27 Equity Method in Separate Financial Statements
1 January 2016
Amendments to FRS 16 and FRS 38 Clarification of Acceptable
Methods of Depreciation and Amortisation
1 January 2016
Improvements to FRSs (November 2014)
36
(a) Amendments to FRS 105 Non-current Assets Held for Sale
and Discontinued Operations
1 January 2016
(b) Amendments to FRS 107 Financial Instruments: Disclosures
1 January 2016
(c) Amendments to FRS 19 Employee Benefits
1 January 2016
Amendments to FRS 110 and FRS 28 Sale or Contribution of
Assets between an Investor and its Associate or Joint Venture
1 January 2016
Amendments to FRS 1 Disclosure Initiative
1 January 2016
Amendments to FRS 110, FRS 112 and FRS 28 Investment
Entities: Applying the Consolidation Exception
1 January 2016
FRS 115 Revenue from Contracts with Customers
1 January 2017
FRS 109 Financial Instruments
1 January 2018
-
-
-
5 years
2 to 3 years
3 years
37
2.
2.
2.5
Funds (continued)
(c)
2.5Funds
(a)
In accordance with Section 33(1) of the Town Councils Act, separate funds were established to account for the management of the
various types of properties. The types of properties currently under the management of the Town Council are as follows:
Town Improvement and Project Funds are established and maintained as part of the Town Council Funds. These funds are utilised
for improvement and development works in the Town.
Residential Property;
Commercial Property.
The funds are set up by transfer from the accumulated surplus to fund specific town improvement projects, which are to be carried
out. In addition, the Town Council receives funds under Community Improvement Projects Committee scheme and are given
through the Citizens’ Consultative Committees (“CCC”) for the approved projects.
Car parks are managed by the Town Council for the HDB on an agency basis.
These funds, together with the Sinking Funds, Town Improvement and Project Funds and Neighbourhood Renewal Programme Fund form
the Town Council Funds.
All monies received by the Town Council are paid into and related expenditure are met out of the appropriate funds set up for each
property type managed.
2.6
Allocation of general overheads
Assets and liabilities of the various funds of the Town Council are pooled in the Balance Sheet.
Expenditure not relating specifically to any property type managed, e.g., administrative overheads, tree planting, pruning etc. is allocated
to the various property types using equivalent dwelling units as follows:
(b)
In accordance with Section 33(4) of the Town Councils Act, separate Sinking Funds are established for improvement to, and the
management and maintenance of residential property and commercial property. These Sinking Funds are maintained as part of the
Town Council Funds.
Town Council Funds
Under the Town Councils Act, the Ministry for National Development (“MND”) may, from time-to-time, prescribe the minimum amounts of
conservancy and service fees and grants-in-aid to be paid into the Sinking Funds.
Currently, the amounts to be paid into the Sinking Funds are as follows:
1-room to 3-rooms
4-rooms to 5-rooms
Multi-generation
Executive
Shop with living accommodation
Commercial property
30% (2014: 30%) of conservancy and service fees and grants-in-aid
35% (2014: 35%) of conservancy and service fees and grants-in-aid
35% (2014: 35%) of conservancy and service fees
These contributions are treated as operating transfers and deducted from the gross conservancy and service fees and government
grants in the Income and Expenditure Statement.
The Sinking Funds are utilised for major cyclical works such as repair and redecoration, re-roofing, rewiring and replacement of pumps,
water tanks and water pipes. In addition, the Sinking Funds are also utilised for the overhaul and upgrading of lifts.
38
Neighbourhood Renewal Programme is funded by the Government and the amount is computed with reference to the number
of residential units in the precinct.
Sinking Funds
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(d)
Property type
1 Residential Property Unit
1 Commercial Property Unit
6 Car lots or 36 Motorcycle lots or 4 Lorry lots
Equivalent Dwelling Unit(s)
2015
2014
1
2
1
2
1
1
No overheads are allocated to the Town Improvement and Project Funds and Neighbourhood Renewal Programme Fund
2.7
Government grants
The Town Council receives from the Government, namely, Conservancy and Service Charges Grant, payments from CCC and GST
subvention grant.
Government grants are accounted in the Income and Expenditure Statement on an accrual basis. Conservancy and Service Charges
Grants received are transferred to Sinking Funds based on the amount prescribed in Note 2.5(b) to the financial statements.
The payment from CCC is given as reimbursement claims under the Community Improvement Projects Committee scheme.
The GST subvention is given as grants-in-aid and is granted to Town Councils to assist them to absorb the GST increases in Conservancy
and Service Charge for HDB residential flats.
39
2.
2.
2.8
Funds with fund managers
2.9
Financial instruments (continued)
Funds with fund managers represent the cost of the portfolio of assets placed with fund managers at the beginning of each management
term plus investment income less management fees payable during the management term.
(a)
Funds with fund managers comprise mainly of equities, bonds, cash and fixed deposits. Equities and bonds are stated on an aggregate
portfolio basis and are classified as financial assets at fair value through profit or loss in the balance sheet.
Financial assets (continued)
Subsequent measurement (continued)
On expiry of the management term, any surplus over and above the performance benchmark will be shared between the Town Council
and the fund managers on the agreed basis.
2.9
Financial instruments
(a)
(iii)
Non-derivative financial assets with fixed or determinable payments and fixed maturity are classified as held-to-maturity when
the Town Council has the positive intention and ability to hold the investment to maturity. Subsequent to initial recognition,
held-to-maturity investments are measured at amortised cost using the effective interest method, less impairment. Gains
and losses are recognised in Income and Expenditure Statement when the held-to-maturity investments are derecognised
or impaired, and through the amortisation process.
Any sale or reclassification of a more than insignificant amount of held-to-maturity investments not close to their maturity
would result in the reclassification of all held-to-maturity investments as available for sale. It would also prevent the Town
Council from classifying investment securities as held-to-maturity for the current and the following two years.
Financial assets
Initial recognition and measurement
Financial assets are recognised when, and only when, the Town Council becomes a party to the contractual provisions of the
financial instrument. The Town Council determines the classification of its financial assets at initial recognition.
When financial assets are recognised initially, they are measured at fair value, plus, in the case of financial assets not at fair value
through profit or loss, directly attributable transaction costs.
(iv)
Available-for-sale financial assets include equity and debt securities. Equity investments classified as available-for-sale are
those, which are neither classified as held for trading nor designated at fair value through profit or loss. Debt securities in this
category are those which are intended to be held for an indefinite period of time and which may be sold in response to
needs for liquidity or in response to changes in the market conditions.
After initial recognition, available-for-sale financial assets are subsequently measured at fair value. Any gains or losses from
changes in fair value of the financial assets are recognised in other comprehensive income, except that impairment losses
and interest calculated using the effective interest method are recognised in Income and Expenditure Statement. The
cumulative gain or loss previously recognised in other comprehensive income is reclassified from equity to profit or loss as a
reclassification adjustment when the financial asset is de-recognised.
Investments in equity instruments whose fair value cannot be reliably measured are measured at cost less impairment loss.
Subsequent measurement
The subsequent measurement of financial assets depends on their classification as follows:
(i)
Financial assets at fair value through profit or loss include financial assets held for trading and financial assets designated
upon initial recognition at fair value through profit or loss. Financial assets are classified as held for trading if they are acquired
for the purpose of selling or repurchasing in the near term.
(ii)
40
Held-to-maturity investments
Subsequent to initial recognition, financial assets at fair value through profit or loss are measured at fair value. Any gains or
losses arising from changes in fair value of the financial assets are recognised in Income and Expenditure Statement. Net
gains or net losses on financial assets at fair value through profit or loss includes interest and dividend income.
Loans and receivables (including conservancy and service fees receivables)
De-recognition
A financial asset is de-recognised where the contractual right to receive cash flows from the asset has expired. On de-recognition
of a financial asset in its entirety, the difference between the carrying amount and the sum of the consideration received and
any cumulative gain or loss that had been recognised in other comprehensive income is recognised in Income and Expenditure
Statement.
Non-derivative financial assets with fixed or determinable payments that are not quoted in an active market are classified
as loans and receivables. Subsequent to initial recognition, loans and receivables are measured at amortised cost using the
effective interest method, less impairment. Gains and losses are recognised in Income and Expenditure Statement when
the loans and receivables are derecognised or impaired, and through the amortisation process.
41
2.
2.
2.9
Financial instruments (continued)
2.10 Impairment of financial assets
(b)
Financial liabilities
The Town Council assesses at each reporting date whether there is any objective evidence that a financial asset is impaired.
Initial recognition and measurement
(a)
Financial liabilities are recognised when, and only when, the Town Council becomes a party to the contractual provisions of the
financial instrument. The Town Council determines the classification of its financial liabilities at initial recognition.
All financial liabilities are recognised initially at fair value and in the case of other financial liabilities, plus directly attributable
transaction costs.
For financial assets carried at amortised cost, the Town Council first assesses whether objective evidence of impairment exists
individually for financial assets that are individually significant, or collectively for financial assets that are not individually significant.
If the Town Council determines that no objective evidence of impairment exists for an individually assessed financial asset, whether
significant or not, it includes the asset in a group of financial assets with similar credit risk characteristics and collectively assesses
them for impairment. Assets that are individually assessed for impairment and for which an impairment loss is, or continues to be
recognised are not included in a collective assessment of impairment.
If there is objective evidence that an impairment loss on financial assets carried at amortised cost has been incurred, the amount
of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash
flows discounted at the financial asset’s original effective interest rate. If a loan has a variable interest rate, the discount rate for
measuring any impairment loss is the current effective interest rate. The carrying amount of the asset is reduced through the use
of an allowance account. The impairment loss is recognised in Income and Expenditure Statement.
When the asset becomes uncollectible, the carrying amount of impaired financial assets is reduced directly or if an amount was
charged to the allowance account, the amounts charged to the allowance account are written-off against the carrying value of
the financial asset.
To determine whether there is objective evidence that an impairment loss on financial assets has been incurred, the Town Council
considers factors such as the probability of insolvency or significant financial difficulties of the debtor and default or significant
delay in payments.
If in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an
event occurring after the impairment was recognised, the previously recognised impairment loss is reversed to the extent that
the carrying amount of the asset does not exceed its amortised cost at the reversal date. The amount of reversal is recognised in
Income and Expenditure Statement.
Financial assets carried at amortised cost
Subsequent measurement
Other financial liabilities
After initial recognition, other financial liabilities are subsequently measured at amortised cost using the effective interest rate
method. Gains and losses are recognised in Income and Expenditure Statement when the liabilities are derecognised, and
through the amortisation process.
De-recognition
42
A financial liability is de-recognised when the obligation under the liability is discharged or cancelled or expires. When an existing
financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are
substantially modified, such an exchange or modification is treated as a de-recognition of the original liability and the recognition
of a new liability, and the difference in the respective carrying amounts is recognised in Income and Expenditure Statement.
43
2.
2.
2.10 Impairment of financial assets (continued)
(b)
(c)
Financial assets carried at cost
If there is objective evidence (such as significant adverse changes in the business environment where the issuer operates, probability
of insolvency or significant financial difficulties of the issuer) that an impairment loss on financial assets carried at cost has been
incurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of
estimated future cash flows discounted at the current market rate of return for a similar financial asset. Such impairment losses are
not reversed in subsequent periods.
2.11 Impairment of non-financial assets
The Town Council assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists,
or when an annual impairment testing for an asset is required, the Town Council makes an estimate of the asset’s recoverable amount.
An asset’s recoverable amount is the higher of an asset’s or cash-generating unit’s fair value less costs of disposal and its value in use and
is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other
assets or groups of assets. Where the carrying amount of an asset or cash-generating unit exceeds its recoverable amount, the asset is
considered impaired and is written-down to its recoverable amount. In assessing value in use, the estimated future cash flows expected
to be generated by the asset are discounted to their present values using a pre-tax discount rate that reflects current market assessments
of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions
are taken into account, if available. If no such transactions can be identified, an appropriate valuation model is used. These calculations
are corroborated by valuation multiples or other available fair value indicators.
In the case of equity investments classified as available-for-sale, objective evidence of impairment include: (i) significant financial
difficulty of the issuer or obligor; (ii) information about significant changes with an adverse effect that have taken place in the
technological, market, economic or legal environment in which the issuer operates, and indicates that the cost of the investment
in equity instrument may not be recovered; and (iii) a significant or prolonged decline in the fair value of the investments below its
costs. ‘Significant’ is to be evaluated against the original cost of the investments and ‘prolonged’ against the period in which the
fair value has been below its original cost.
2.12 Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits, fixed deposits, less cash and fixed deposits with fund managers
that are readily convertible to known amount of cash and which are subject to an insignificant risk of changes in value.
If an available-for-sale financial asset is impaired, an amount comprising the difference between its acquisition cost (net of any
principal repayment and amortisation) and its current fair value, less any impairment loss previously recognised in profit or loss, is
transferred from other comprehensive income and recognised in Income and Expenditure Statement. Reversals of impairment
losses in respect of equity instruments are not recognised in Income and Expenditure Statement; increase in their fair value after
impairment are recognised directly in other comprehensive income.
2.13Provisions
Provisions are recognised when the Town Council has a present obligation (legal or constructive) as a result of a past event, it is probable
that an outflow of resources embodying economic benefits will be required to settle the obligation and the amount of the obligation can
be estimated reliably.
In the case of debt instruments classified as available-for-sale, impairment is assessed based on the same criteria as financial
assets carried at amortised cost. However, the amount recorded for impairment is the cumulative loss measured as the difference
between the amortised cost and the current fair value, less any impairment loss on that investment previously recognised in profit
or loss. Future interest income continues to be accrued based on the reduced carrying amount of the asset, using the rate of
interest used to discount the future cash flows for the purpose of measuring the impairment loss. The interest income is recorded as
part of finance income. If, in a subsequent year, the fair value of a debt instrument increases and the increases can be objectively
related to an event occurring after the impairment loss was recognised in Income and Expenditure Statement, the impairment loss
is reversed in Income and Expenditure Statement.
Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If it is no longer probable
that an outflow of economic resources will be required to settle the obligation, the provision is reversed. If the effect of the time value of
money is material, provisions are discounted using a current pre tax rate that reflects, where appropriate, the risks specific to the liability.
When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.
2.14Lease
Operating lease payments are recognised as an expense in the profit or loss on a straight-line basis over the lease term. The aggregate
benefit of incentives provided by the lessor is recognised as a reduction of rental expense over the lease term on a straight-line basis.
2.15 Revenue recognition
44
Conservancy and service fees and agency fees are recognised on a time-proportion basis for the period when the service is rendered.
Interest income from fixed deposits is recognised on a time-proportion basis using the effective interest method.
Investment income from investments in financial assets held at fair value through profit or loss and available-for-sale instruments
is recognised in the Sinking Fund while investment income from investments in held-to-maturity financial assets is recognised on a
time-proportion basis using the effective interest method.
45
2.
3.
Significant accounting judgements and estimates
The preparation of the Town Council’s financial statements requires management to exercise its judgements, estimates and assumptions
that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Uncertainty
about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the
asset or liability affected in the future period.
Income derived from investments;
Fees, rent and other charges received from non-residents or non-owners of properties in the Town for use of common properties;
Key sources of estimation uncertainty
Donations from non-residents or non-owners of properties in the Town.
The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period, that have
a significant risk of causing a material adjustment to the carrying value amounts of assets and liabilities within the next financial year are
discussed below:
(a)
2.16 Income tax
Tax is provided on the following income:
(i)
(ii)
and
(iii)
In respect of Government grants received, the Town Council has been granted remission under Section 92(2) of the Income Tax Act
(Chapter 134). Conservancy and service charges and agency fees are not subject to tax.
Income tax expense comprises current tax. Current tax is recognised in the Income and Expenditure Statement except to the extent that
it relates to items recognised directly in equity.
The Town Council follows the guidance of FRS 39 Financial Instruments: Recognition and Measurement (“FRS 39”) on classifying nonderivatives financial assets with fixed or determinable payments and fixed maturity as held-to-maturity. This classification requires
significant judgement. In making this judgement, the Town Council evaluates its intention and ability to hold such investments to
maturity.
If the Town Council is unable to keep these investments to maturity other than for specific circumstances explained in FRS 39, it will
be required to reclassify the whole class as available-for-sale. The investments would therefore be measured at fair value and not
amortised cost.
If the class of held-to-maturity investments is tainted, the fair value would increase by approximately S$48,000 (2014: increase by
S$36,000), with a corresponding entry in the fair value reserve in Town Council Funds.
Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively
enacted at the end of the reporting period and any adjustment to tax payable in respect of previous financial years.
2.17Contingencies
Classification of held-to-maturity investments
A contingent liability is:
(a)
a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence
of one or more uncertain future events not wholly within the control of the Town Council; or
(b)
a present obligation that arises from past events but is not recognised because:
(i)
It is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or
(ii)
The amount of the obligation cannot be measured with sufficient reliability.
The Town Council assesses at the end of the reporting period whether there is objective evidence that a financial asset or a group
of financial assets is impaired. For the case conservancy and service fees receivables, the Town Council considers factors such
as the probability of insolvency or significant financial difficulties of the debtor and default or significant delay in payments to
determine whether there is objective evidence of impairment.
Allowance for impairment is made in the financial statements for amount in arrears which are outstanding for more than twelve
months (2014: twelve months) and/or where collection is doubtful. All known bad debts are written-off in accordance with the
Town Council Financial Rules.
46
A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence or nonoccurrence of one or more uncertain future events not wholly within the control of the Town Council.
Contingent liabilities and assets are not recognised on the balance sheet of the Town Council, except for contingent liabilities assumed
in a business combination that are present obligations and which the fair values can be reliably determined.
(b)
Impairment of conservancy and services fees receivables
47
4.
Inter-fund transfer
8.
Income tax expense
Under Section 33(9) of the Town Councils Act (Chapter 329A), the Town Council may transfer an amount not exceeding the surplus from
any of its other funds established by the Town Council, to a fund which is in deficit to make good the deficit in that fund.
(a)
5.
Agency fees
These are fees received for routine maintenance of HDB’s car park in the Town Council.
6.
Managing agent’s fees
The Town council does not have any other employees on its payroll as management of its daily operations have been outsourced to
a managing agent for a fee of S$5,335,749 (2014: S$5,056,165) for the financial year ended 31 March 2015. Included in the managing
agent’s fee, there is an allocation of 10% managing agent’s fee amounting to S$519,372 (2014: S$Nil) were allocated to Sinking Fund
during the financial year (Note 11b).
7.
General and administrative expenditure
The general and administrative expenditure comprise the following:
288
199
277
203
200
212
57
37
35
5
22
165
417
(174)
1,943
2014
S$’000
293
159
199
224
202
237
59
28
41
18
15
162
347
(198)
1,786
^
Staff costs include contributions made to the Central Provident Fund of S$5,385 (2014: S$4,996).
*
Government grants received by the Town Council are considered non-taxable supplies. Therefore, input tax claimable is based on
a formula determined by the Inland Revenue Authority of Singapore (“IRAS”). The non-claimable portion is charged to the Income
and Expenditure Statement.
48
Accumulated surplus:
Current income tax
Over provision in respect of previous years
Sinking Funds:
Current income tax
Current income tax expense
S$’000
Computer services
Advertising, publicity and public relations
Office supplies and stationery
Town Councillors’ allowances
Property tax
Legal fee
Depreciation of plant and equipment
Insurance premium
Plant and equipment not capitalised
Staff costs^
Non-claimable goods and services tax*
Others
Allocation of 10% G&A to Sinking Fund
2015
S$’000
Income tax expense attributable to income is made up of:
Current income tax
2015
Office rental and upkeep expenditure
Income tax expense
732
(19)
713
722
(18)
704
334
*
334
310
(7)
303
398
(19)
379
412
(11)
401
713
704
The tax expense on surplus differs from the amount that would arise using the Singapore standard rate of income tax is explained
below:
2015
S$’000
Investment and interest income received
Other income
Allowable expenses
Tax calculated at a tax rate of 17% (2014: 17%)
Adjustments:
Income not subject to tax
Tax effect of certain income taxed at concessionary tax rate
(b)
2014
S$’000
*
2014
S$’000
3,012
2,160
(229)
4,943
3,018
2,009
(231)
4,796
840
815
–
(108)
(19)
713
(26)
(67)
(18)
704
Amount is less than S$1,000.
Current income tax liabilities
2015
S$’000
Taken up in:
- Accumulated surplus
- Sinking Funds (Note 11)
644
791
1,435
2014
S$’000
834
1,123
1,957
49
9.
Government grants
10.
Accumulated surplus
Government grants recognised in the Income and Expenditure Statement during the financial year are as follows:
The surplus for the financial year attributable to the various activities is carried forward as accumulated surplus in the respective funds as
follows:
Total
Note
Government grants received/receivable
during the financial year
Town Improvement and Project
Funds
Conservancy and
Payment from
Service Charges Citizen’s Consultative
Grant
Committee
2015
2014
2015
2014
S$’000
S$’000
S$’000
S$’000
2015
S$’000
2014
S$’000
10
9,745
9,342
4,858
4,549
11
(2,171)
(2,022)
(1,591)
(1,494)
12
(3,207)
4,367
(3,265)
4,055
–
3,267
–
3,055
3,207
3,265
–
–
(3,207)
–
GST Subvention
Grant
2015
2014
S$’000
S$’000
1,680
(3,265)
–
–
1,100
Operating income
Conservancy and service fees
Less: Operating income transfer
to Sinking Funds
1,528
(580)
(528)
Agency fee
Other income
–
1,000
Total grants received as at 1 April
Add: Grants received during the financial year
Total grants received as at 31 March
Operating (deficit)/surplus
Add: Investment and interest income
Less: Town Improvement Works
2014
S$’000
332,572
324,021
9,872
8,551
342,444
332,572
(Deficit)/surplus before taxation
and grants
Less: Income tax expense
Surplus/(deficit) for the financial year
Add: Accumulated surplus at 1 April
Less: Transfer to Nee Soon Town Council
Less: Appropriation to Town
Improvement and Project Funds
45,321
41,180
43,268
39,357
2,053
1,823
(15,650)
29,671
4,368
3,268
37,307
(37,627)
(14,296)
26,884
4,288
3,228
34,400
(37,850)
(14,931)
28,337
–
2,745
31,082
(32,794)
(13,603)
25,754
–
982
26,736
(32,242)
(719)
1,334
–
430
1,764
(1,052)
(693)
1,130
–
2,187
3,317
(1,357)
12
(320)
34
–
(3,450)
44
(627)
(1,712)
28
–
(5,506)
39
(627)
712
1
–
1,960
*
–
680
5
–
96
5
–
8(a)
(286)
(334)
(4,033)
(303)
(1,684)
(290)
(6,094)
(263)
713
(8)
1,960
(7)
685
(36)
101
(33)
(620)
(4,336)
(1,974)
(6,357)
705
1,953
649
68
9
11
9,745
(2,171)
9,342
(2,022)
9,655
(2,171)
9,281
(2,022)
90
–
61
–
–
–
–
–
12
(3,207)
4,367
(3,265)
4,055
(3,117)
4,367
(3,204)
4,055
(90)
–
(61)
–
–
–
–
–
3,747
4,101
–
(281)
11,436
(6,159)
2,393
–
–
(2,302)
–
108
705
4,101
–
1,953
10,323
(5,750)
649
–
–
68
1,113
(517)
–
(2,194)
2,194
866
5,672
–
(895)
5,631
(1,530)
–
649
–
–
664
(664)
5,672
4,101
649
11
10(a)
(Deficit)/surplus before grants
Add: Government grants
Transfer to Town improvement
and Project Funds
50
Residential
2015
2014
S$’000
S$’000
Less: Operating expenditure
The total amount of grants received (including grants received in advance) since the formation of the Town Council is as follows:
2015
S$’000
Total
2015
2014
S$’000
S$’000
Note
13
Inter-Fund Transfer
(258)
7,590
–
(895)
4,101
–
(1,124)
1,269
–
Accumulated surplus at 31 March
7,590
4,101
1,269
*
12
–
Commercial
2015
2014
S$’000
S$’000
Car park
2015
2014
S$’000
S$’000
–
–
–
4,368
93
4,461
(3,781)
–
–
–
4,288
59
4,347
(4,251)
–
51
10a. Other income
11.
2015
S$’000
Late payment penalty
Liquidated damages
Sale of tender documents
Sundry fines
Sundry income
Temporary Occupational Licence income
Use of common property income
Use of void decks
Use of water and electricity at void decks
11.
Note
276
186
12
30
42
2,166
13
53
450
3,228
Represented by:
Current assets
Other receivables
Non-current assets
Held-to-maturity financial assets
Total assets
Sinking funds
Total
At 1 April
Transfer to Nee Soon Town Council
Add:
Income
Operating income transfer from conservancy and
service fees
Transfer from government grants
Less:Expenditure
Income tax expense
Add: Fair value reserve
At 31 March
52
2014
S$’000
274
120
16
52
186
2,246
14
59
301
3,268
Note
2015
S$’000
2014
S$’000
Residential property
2015
2014
S$’000
S$’000
13
174,808
–
174,808
308,903
(133,033)
175,870
150,242
–
150,242
255,856
(104,116)
151,740
11(a)
10
4,510
15,650
1,461
14,296
4,384
14,931
1,423
13,603
9
2,171
22,331
(17,281)
(379)
4,671
179,479
2,022
17,779
(18,440)
(401)
(1,062)
174,808
2,171
21,486
(16,233)
(368)
4,885
155,127
2,022
17,048
(18,155)
(391)
(1,498)
150,242
Commercial property
2015
2014
S$’000
S$’000
24,566
–
24,566
Current liabilities
Current tax liabilities
Total liabilities
53,047
(28,917)
24,130
Net assets
11(b)
8
843
359
180,322
175,167
Sinking funds (continued)
126
719
–
845
(1,048)
(11)
(214)
24,352
38
693
–
731
(285)
(10)
436
24,566
(a)
15
17
21
20
21
8(b)
2015
S$’000
2014
S$’000
95,345
552
57,466
359
682
3,807
158,211
100,629
339
66,094
300
746
288
168,396
7,822
16,800
182,833
7,557
2,317
178,270
(1,720)
(791)
(2,511)
(1,980)
(1,123)
(3,103)
180,322
175,167
917
2,806
428
359
4,510
868
–
127
466
1,461
Income
Fixed deposit interest income
Net increase in fund with fund managers
Bonds interest income
Income from other investments
53
11.
Sinking funds (continued)
12.
(b)
Expenditure
Total
Note
2015
S$’000
Note
2014
S$’000
At 1 April
Reroofing works
Electrical rewiring
Lift works
Redecoration and repainting
Replacement of:
- Refuse handling plant & chute flushing system
- transfer and booster pumpsets
- water pipes and stainless steel water tank lining
Consultancy fee and other charges
Net decrease in fund with fund managers
Provision of impairment loss on held-to-maturity financial assets
Non-claimable goods and services tax*
Allocation of 10% managing agent’s fee
54
*
6
1,298
1,516
4,088
6,775
4,098
157
7,657
3,717
793
420
263
859
–
118
632
519
17,281
–
36
796
709
870
3
397
–
18,440
Government grants received by the Town Council are considered non-taxable supplies. Therefore, input tax claimable is based on
a formula determined by the Inland Revenue Authority of Singapore (“IRAS”). The non-claimable portion is charged to the Income
and Expenditure Statement.
Transfer from government grants
Less: Expenditure
Deficit for the financial year
Town Improvement works transferred to
Income & Expenditure statement
Appropriation from/(to) accumulated surplus
2015
S$’000
897
13
9,10
12(a)
10
10
2014
S$’000
922
–
Commercial property
2015
2014
S$’000
S$’000
870
897
52
–
897
3,207
(3,300)
(93)
(608)
314
3,265
(4,204)
(939)
–
–
3,117
(3,208)
(91)
(580)
290
3,204
(4,121)
(917)
–
897
90
(92)
(2)
(28)
24
61
(83)
(22)
–
(93)
258
627
(312)
895
–
(91)
1,124
627
(290)
–
–
(2)
(866)
–
(22)
895
1,033
29
897
At 31 March
1,062
897
Represented by:
Current asset
Other receivables
3,256
3,348
(141)
(2,053)
1,062
(994)
(1,457)
897
Current liabilities
Due to accumulated surplus
Residential property
2015
2014
S$’000
S$’000
–
55
12.
Town Improvement and Project Funds (continued)
14.
(a)
Expenditure
Note
2015
S$’000
Construction of covered walkways
Upgrading of open spaces
Construction/upgrading of playgrounds/fitness corners etc.
Lift Surveillance System
General and administrative charges
Consultancy fees and Managing Agent’s fees
Other amenities
Construction of barrier free access facilities
Large Scale Town Wide (LSTW) Projects
2014
S$’000
1,048
107
1,258
30
17
328
174
–
338
3,300
Accumulated surpluses transferred to Nee Soon Town Council
Following the restructure of Sembawang-Nee Soon Town Council into two separate entities - Sembawang Town Council and Nee Soon
Town Council on 1 April 2013 and the gazetting of the Town Councils (Declaration of Towns) Order 2013 on 12 March 2013, the following
funds were transferred to Nee Soon Town Council on 1 June 2013:
Note
Accumulated (deficit)/ surplus
Sinking funds
Town Improvement Project Fund
Net funds transferred
Fair value reserve
Represented by:
Net assets transferred
Net current liabilities transferred
10
11
12
14
Residential
Property
Funds
S$’000
108
(104,116)
(580)
–
(104,588)
Commercial
Property
Funds
S$’000
(5,750)
(28,917)
(28)
–
(34,695)
Car park
Fund
S$’000
(517)
–
–
–
(517)
Neighbourhood Renewal
Programme
Fund
S$’000
–
–
–
517
517
At 1 April
942
166
1,253
1,087
44
251
455
6
–
4,204
13.
56
Total
S$’000
(6,159)
(133,033)
(608)
517
(139,283)
(597)
(139,880)
(76,648)
(71,744)
8,512
(139,880)
13
Funding from HDB
Payments to contractors
119
–
119
6,652
(6,190)
462
At 31 March
Represented by:
Current assets
Due from accumulated surplus
15.
2015
S$’000
2014
S$’000
1,512
517
2,029
5,064
(6,974)
(1,910)
581
119
581
581
119
119
Note
Cash and bank balances
Fixed deposits
Cash and fixed deposits held in trust by fund managers
17
Taken up in:
Accumulated surplus:
- Cash and bank balances
- Fixed deposits
Sinking Funds:
- Cash and bank balances
- Fixed deposits
- Cash and fixed deposits held in trust by fund managers
Cash and bank balances
17
11
2015
S$’000
2014
S$’000
12,037
77,319
13,474
102,830
7,161
74,515
24,270
105,946
7,485
–
7,485
317
5,000
5,317
4,552
77,319
13,474
95,345
6,844
69,515
24,270
100,629
102,830
105,946
57
15.
Cash and cash equivalents (continued)
18.
At the end of the reporting period, the carrying amounts of cash and cash equivalents approximate their fair values.
The fixed deposits with financial institutions mature between two month to eleven months (2014: between one month to eleven months)
after the financial year end. The interest rate as at 31 March 2015 was between 1.25% and 1.50% (2014: between 1.10% and 1.15%).
Cash and bank balances and fixed deposits
Less: Cash and fixed deposits held in trust by fund managers (Note 17)
Cash and cash equivalents per cash flow statement
102,830
(13,474)
89,356
Less: Allowance for impairment losses
2014
S$’000
105,946
(24,270)
81,676
2015
S$’000
Sinking Funds:
- Listed equities
- Bonds securities
11,17,
27(a)
The financial assets at fair value through profit or loss have been designated to be held for trading purposes.
17.
Funds with fund managers
At the end of the reporting period, the funds with fund managers comprise the followings:
Add: Other receivables
1,867
(478)
1,389
6,259
584
102,830
1,616
(411)
1,205
5,673
381
105,946
Total loans and receivables
111,062
113,205
Concentration of credit risk relating to conservancy and service receivables is limited due to the Town Council’s many varied customers.
These customers widely dispersed. The Town Council’s historical experience in the collection of conservancy and service fee receivables
that no additional credit risk beyond amounts provided for collection losses is inherent in the Town Council’s conservancy and service fee
receivables.
Conservancy and service fee receivables that are past due and impaired
Cash and fixed deposits
Accrued interest
Management fees payable to fund managers
19,826
37,640
14,942
51,152
57,466
66,094
Gross conservancy and service
fee receivables
2015
2014
S$’000
S$’000
Not past due
Past due 0 - 30 days
Past due 121 -364 days
Past due more than 365 days
Note
2014
S$’000
11,16,
27(a)
15
19
2015
S$’000
57,466
13,474
215
(23)
71,132
31
431
277
559
569
1,867
41
376
251
448
500
1,616
Allowance for
impairment losses
2015
2014
S$’000
S$’000
–
–
–
–
478
478
2015
S$’000
–
–
–
–
411
411
Movement in allowance for impairment is as follows:
2014
S$’000
66,094
24,270
304
(39)
90,629
2014
S$’000
Note
58
2015
S$’000
For the purposes of the statement of cash flow, the cash and cash equivalents comprise the following:
2015
S$’000
16.
2014
S$’000
At 1 April
Charge for the year
411
–
67
925
(527)
13
At 31 March
478
411
Based on historical experience, the Town Council believes that no impairment allowance is necessary in respect of conservancy and
service fee receivables not past due or past due but not impaired.
59
19.
20.
Other receivables and prepayments
Note
Penalty on late payment
Citizen Consultative Committee grant receivable from HDB
GST subvention grant
Accrued interest
Others
17
Prepayments
Other receivables that are past due and impaired
The ageing of other receivables at the end of the reporting period was:
2015
S$’000
2014
S$’000
278
3,256
420
215
2,090
6,259
198
6,457
Note
266
3,348
391
304
1,364
5,673
159
5,832
At 1 April
Redemption
Return of capital
Fair value gain/(loss) recorded in fair value reserve
Gross other receivables
2015
2014
S$’000
S$’000
Not past due
Past due more than 365 days
5,905
55
112
122
153
6,347
5,027
52
369
118
185
5,751
–
–
–
–
88
88
60
2015
S$’000
23
20,029
(8,612)
(3,420)
(8)
(432)
At 31 March
27(a)
7,822
7,557
Taken up in:
Sinking Funds
11
7,822
7,822
7,557
7,557
Available-for-sale financial assets include the following:
2015
S$’000
–
–
–
–
78
78
2014
S$’000
7,557
–
(212)
(7)
484
Allowance for
impairment losses
2015
2014
S$’000
S$’000
Quoted equities
Quoted real estate investment trusts
5,516
2,306
7,822
21.
Held-to-maturity financial assets
Included in below are the assets at carrying amounts, categorised by the earlier of contractual repricing or maturity dates:
2014
S$’000
5,522
2,035
7,557
Movement in allowance for impairment is as follows:
2015
S$’000
2015
S$’000
2014
S$’000
At 1 April
Charge for the year
78
–
10
178
(101)
1
At 31 March
88
78
Quoted bonds with fixed interest of 1.01% to 4.00% (2014: 2.42% to 4.10%)
- Current
- Non-current
3,807
16,800
20,607
2014
S$’000
288
2,317
2,605
Based on historical default rates, the Town Council believes that no impairment allowance is necessary in respect of other receivables
not past due or past due but not impaired.
61
21.
22.
Held-to-maturity financial assets (continued)
Note
Quoted bonds with fixed interest of 1.01% to 4.00% (2014: 2.42% to 4.10%)
Impairment losses
Taken up in:
Sinking Funds
11
2015
S$’000
2,609
(4)
2,605
20,607
2,605
The change in impairment losses in respect of held-to-maturity financial assets during the financial year was as follows:
2014
S$’000
At 1 April
Provision for impairment loss
4
–
118
3
(2)
3
At 31 March
122
4
The effective interest rates for the bonds were as follows:
Quoted bonds with fixed interest
2014
S$’000
20,729
(122)
20,607
2015
S$’000
2015
%
2014
%
1.18 to 2.64
1.94 to 3.72
The fair values for the held-to-maturity financial assets were as follows:
Fair values
2015
2014
S$’000
S$’000
Quoted bonds with fixed interest
62
20,655
Plant and equipment
2,641
Furniture,
fixtures
and fittings
S$’000
Cost
At 1 April 2013
Additions
Written off
Office
equipment
S$’000
Data
processing
equipment
S$’000
Total
S$’000
1,286
(638)
(1)
497
(235)
3
(12)
256
(120)
49
(11)
2,039
(993)
52
(24)
At 31 March 2014 and 1 April 2014
Additions
Written off
647
5
(3)
253
3
(18)
174
10
(80)
1,074
18
(101)
At 31 March 2015
649
238
104
991
1,190
(581)
14
466
(212)
7
247
(118)
7
1,903
(911)
28
(1)
(12)
(11)
(24)
At 31 March 2014 and 1 April 2014
Depreciation charge for the financial year
Written off
622
14
(3)
249
3
(18)
125
20
(80)
996
37
(101)
At 31 March 2015
633
234
65
932
Net carrying amount
At 31 March 2014
25
4
49
78
At 31 March 2015
16
4
39
59
Accumulated depreciation
At 1 April 2013
Depreciation charge for the financial year
Disposals
The held-to-maturity financial assets are denominated in Singapore Dollars.
63
23.
26.
Financial risk management objectives and policies
Overview
The Town Council has a system of controls in place to create an acceptable balance between the cost of risks occurring and the cost of
managing the risks. The management continually monitors the Town Council’s risk management process to ensure that an appropriate
balance between risk and control is achieved.
The Town Council is exposed to credit, interest rate and other market risk in the normal course of the Town Council’s business.
(a)
Fair value reserve
Note
At 1 April
Fair value gain/(loss) on available-for-sale financial assets for the financial year
20
At 31 March
24.
2015
S$’000
2014
S$’000
359
–
484
1,388
(597)
(432)
843
359
2015
S$’000
Accounts payable
Work order accruals
Other accruals
Sundry creditors - utilities
Sundry deposits
Others
Total creditors and accrued expenses, representing
total financial liabilities carried at amortised cost
2014
S$’000
1,200
123
3,213
766
152
142
–
*
5,533
878
203
227
5,596
6,841
The contractual undiscounted cash outflows on creditors and accrued expenses are expected to approximate their carrying amounts
and settled within one year except for sundry deposits that are repayable on demand.
*
25.
Expenditure commitments
Expenditure commitments approved by the Town Council but not provided for in the financial statements:
2015
S$’000
Amount approved and contracted for
Amount approved but not contracted for
64
9,805
1,461
11,266
Credit risk
Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting from financial loss to the Town
Council. For conservancy and service receivables, at the end of the reporting period, there were no significant concentrations of
credit risk. For investment in financial assets, the Town Council adopts a policy of only dealing with high quality counterparties.
The Town Council manages credit risk through the setting of guidelines for its investments. The guidelines are reviewed and
approved by the Finance Committee. Ongoing monitoring is undertaken by management to ensure that all investment activities
are in compliance with the guidelines.
Cash and fixed deposits are placed with banks and financial institutions which are regulated.
The maximum exposure to credit risk is represented by the carrying amount of each financial asset in the balance sheet.
Liquidity risk
(b)
The Town Council adopts prudent liquidity risk management by maintaining sufficient cash to meet its routine and sinking fund
expenditure.
The financial assets and financial liabilities at the end of the reporting period based on contractual undiscounted repayment
obligations have a maturity of less than one year other than held-to-maturity financial assets disclosed in Note 21 to the financial
statements.
2014
S$’000
13,018
2,987
16,005
65
26.
Financial risk management objectives and policies (continued)
27.
Fair value of financial instruments
(c)
Market risk
(a)
Market risk is the risk that changes in market prices, such as interest rates, foreign exchange rates and equity prices, will affect the
Town Council’s income or the value of its holdings of financial instruments:
(i)
(ii)
Note
The Town Council’s exposure to market risk for changes in interest rates relate to interest-bearing fixed deposits with financial
institutions. The Town Council’s surplus funds are placed with reputable financial institutions. The interest rates on these funds
are at prevailing rates.
16
20
Price risk
The Town Council’s equity instruments are listed. A 10% increase in the underlying equity prices at the reporting date would
increase equity and profit or loss by the following amount:
Equity:
Fair value reserve
Statement of Income and Expenditure:
Fair value through profit or loss
2015
S$’000
2014
S$’000
57,466
7,822
65,288
66,094
7,557
73,651
Determination of fair values
2015
S$’000
2014
S$’000
782
756
1,983
1,494
The fair value of financial assets at fair value through profit or loss and available-for-sale financial assets is determined by reference
to their quoted bid prices at the end of the reporting period.
Financial instruments not carried at fair value and whose carrying amount are reasonable approximation of fair value
(b)
The carrying amounts of financial assets and liabilities with a maturity of less than one year (including cash and cash equivalents,
interest receivables, conservancy and service fee receivables, other receivables, conservancy and service fees received-inadvance, creditors and accrued expenses and government grant received-in-advance) are assumed to approximate their fair
values because of the short period to maturity.
Financial instruments not carried at fair value
(c)
The table below analyses financial instruments carried at fair value, by valuation method. Level 1: quoted prices (unadjusted) in
active markets for identical assets are as follows:
Interest rate risk
Sensitivity analysis-equity price risk
Financial instruments carried at fair value
This analysis assumes that all other variables remain constant.
The aggregate net fair values of financial assets and liabilities which are not carried at fair value in the balance sheet as at 31
March are represented in the following table:
2015
Carrying
amount
S$’000
Financial assets
Unrecognised gain
20,607
2014
Fair
value
S$’000
20,655
48
Carrying
amount
S$’000
2,605
Fair
value
S$’000
2,641
36
Determination of fair values
66
The fair value of held-to maturity financial assets is determined by reference to their quoted bid prices at the end of the reporting
period.
67
28.
Key management remuneration
Key management refers to the Town Councilors. The remuneration paid to the Town Councilors are disclosed in Note 7 to the financial
statements.
29.
Authorisation of financial statements for issue
The financial statements of the Town Council for the financial year ended 31 March 2015 were authorised for issue by the members of the
Town Council on 14 August 2015.
68
Woodlands Oﬃce
Blk 306A Woodlands St 31, #02-00
Singapore 731306
Woodlands Collection Centre
Blk 900 South Woodlands Drive, #02-02
Singapore 730900
Tel: 6368 3100 Fax: 6368 2271
Email: feedback@sbtc.org.sg
Facebook: Kampung Sembawang
(for Town news)
(for Town Council matters)
Mobile App: iTown@SG
SMS/MMS: 9110 9877

annual report - Sembawang Town Council

Transcription

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