i'mpact Singapore Tourism Board Annual Report 2010/2011
i'mpact Singapore Tourism Board Annual Report 2010/2011
i'mpact Singapore Tourism Board Annual Report 2010/2011
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NOTES TO THE FINANCIAL STATEMENTS<br />
31 March <strong>2011</strong><br />
6 TRUST AND AGENCY FUNDS<br />
Trust and agency funds are set up to account for monies held in trust where STB is not the owner and beneficiary of the<br />
funds. Income or expenses of these funds are taken directly to the funds. The net assets relating to the funds are shown as a<br />
separate line item in the statement of financial position.<br />
<strong>2010</strong>/<strong>2011</strong> 2009/<strong>2010</strong><br />
$’000 $’000<br />
Balance at beginning of the year 2,180 5,238<br />
Add: Receipts - Funds received 198,981 162,085<br />
Less: Disbursements - Funds disbursed to<br />
- External parties (199,054) (163,450)<br />
- Returned to Government - (1,693)<br />
Balance at end of the year 2,107 2,180<br />
Represented by:<br />
Cash at bank 2,147 1,981<br />
Trade receivables 23 476<br />
Fixed deposits - -<br />
Trade payables (63) (277)<br />
Net assets at end of the year 2,107 2,180<br />
The trust and agency funds are used for tourism-related incentive schemes and for tourism-related development projects.<br />
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