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01 Changing Lives

Our People
02 03 04 Chairman's Message Territorial Commander's Message Advisory Board Members Organisation Information

Our Efforts

Gracehaven The Haven Prison SUPllortServices - Kids In Play Peacehaven Nursing Home Bedok Multiservice Centre Family Support Services BukH Panjang Family Service Centre youth Development Centre Child Care Centres Red Shield Industries Corps Voluntee~ism

09 10


15 16 17


Our Hope
20 Change OneLife. ChangeThe Future

Our Financials
24 26 55 56 Auditor's Report Financial Statements Monthly Contribution Form One-time Contribution Form




I believe in providing more than just practical aid for those in need, Above and beyond community welfare, my heart is committed to helping individuals be transformed by God's love. The knowledge that these acts of service will continually change lives strengthens my faith, With each initiative and every heart I reach out to, my goal is to help people live to their full potential. One life is worm an Army's protection. I am The Salvation Army.

S! Iv;llion Army A.lnual Report 2010 I Chan!lng UVH I 01

Having served on The Salvation Army Advisory Board for 15 years, I have seen how dedicated. the organisation is in carrying out its mission to change lives. Since the time this international movement came to Singapore in 1935, it has achieved its goal of becoming asocial service, relevant in bridging sncial, economic, and cultural gaps in Singapore. Th e SaIvalio n Army is su ra in its aim to rescue th ose caught in a downward spiral of life's problems. As a beacon of hope to those in need, its mission continues to shine from the lives of many volunteers, donors and beneficiaries. lt re m a Ins steadfa stly acen unta bl e to dono rs and the authorities. It is with gratitude that [ support The Salvation Army's passion to build a caring nation t hro u gil lives tra n sform.ed.

:Mt S Dhanabalan
The Salvation Arm)' Advlsol)' BOonJ, Singapore

The Salvation Army believes that because people matter most, lives can be changed and transformed. We have been working hard at this from our lnceptlon in 1865 unti I today 1 n 121 countries. This Annual Report you hold provides a comprehensive insight into the life-changing work of The SaIvation Army in Singapore. We aim to meet the needs of people in crisis and distress, supporting and enabling them to move forward in their lives and experience-change through renewed hope and purpose. However, even as a recognised international charity, it remains a real and constant challenge to find the resources for us to carry out our mission. We need your partnership and ask for your continued invaluable support so that together, we can make a constructive and enduring impact in our communlty and people's lives.

Colonel Gillian Downer
Territorial Commander
The Salvation Army Singapore, Malaysia and Myanmar Territoii'

{From laltta right. top to blltloml Mr Bill Foo, Mr ~ugene Urn, Mrs Janet Yee, Mr Knk Siew Hoong, Mr luke llm, Mr Richard Yong, Daruk Robart Chua, MrWinslDn Tan, Ueut·Colonel Bllb lee, Mr Gregoij lee

Honol'll'f Member Mr Cecil Wong (wilbout photo)
Salva on Army AIInual Repll!l2010 I Cfll~"2U.n I Our Peop!. 03

Ordinance 23 of 1939 as Salvation Army Ordinance (Chapter 377) IPC Registration Number 000549 RI!'gistered Address 20 Bisha n Street 22.Co10 nel Bob Lee Chief Secretary and Traini ng Princi pal of Will iam Bootl1 College of Mission Lieut-Colonel Wendy Lee Lieut-Colonel Patricia loo Major Darrell Thomas Major Lee Kong Yee Territorial Secretary of Women's Minislries Assistant Com manding Officer Territorial Programme Secretary Commanding Offioer & Assistant to Programme Secretary [West Malaysia) Major Francis Ng Supe ri nten denl and Ass isla nt to Programme Secretary (East Malaysia) Captain fiary Haran Mdm Koh Guek Eng Mr Gregory Lee Territorial Youth & Candidates Secretary Finance Director Public Relations Director 1 Jan 2010 1 Jan 2010 1 Jan 2010 I Jan 2010 1 Jan 2010 1 Jan 2010 1 Jan 2010 1 July 2010 1 Jan 2010 Date of Appointment 1 July 2010 .The Salvation Army was established under the Statutes of Singapore. Singa pore 579768 Finance Council Nama Colonel Gillian Downer Designation Territorial Commander and Territorial President of Women's Ministries Ueut .

Katrina Thomas Major Lee Kon g Yee Litera ry Secretary.The Salvation Army has in place a conflict of interest policy since JanuarY 2009. Editor of Th e War Cry C om rna ndi ng Officer and A.Central Council Name Colonel Gillian Downer Designation Terrilo rial Com mander o ate of App a inlment and Terrilori aI 1 July 2010 President of Women's Ministries Ueul-Colon el Bob Lee Chiel Sec relsry and Irai nin g Pri nel p a I of Willi a m Booth Coli ege of M issi on Ueul-Colonel Wendy Lee Terrilorial Secrelary of Worn en's Mioi stri es Com rna ndi ng Officer Terrilo ria I Program me See reta ry Region a I Officer (Mya nrna r) Regiona I D.. . I errito rial Youth & Can didates Secretary Bankers Sia nd ard eh artered Bank Un iled 0 versea s Ban k LawyeI Don aIdsOM & Burki ash aw Auditors Horwath First Tru st lLP Investment Advisors UOB Asset Management Lio n Glob aI Inves tors ltd Ltd Policy Statement Conflict of Interest Policy .ssistant to the Progra m me Seeretary (Wesl Ma lays ia) Major Rutn Pascoe Captain Hary Haran Com rna ndi ng Officer 1 Jan 2010 IJan 20lO 1Jan 2010 1 Jan 2010 1 Jail 2010 Ueill-Col on ella n Thea n Sen g Major Darre II'T~ om as Major Ian Marshall Major Colleen Marshall IJan 2010 1 Jan 2010 1 Oct 2010 I Oct 2010 1 Jan 21J1O .ireclo r of Worn en's Min istries (Mya nmar) an d :Regional Fellowsh ip of th e Si Ive r Sta r Secretary Major .

Resid ents are also stm ngly enenura ged to give back by doing community service such as hefpingat nursing/aged homes. cooking and c raftwork and entrep rene ursh ip lesson s.Games Singa:pore. res ide ntia I Home for up 10 160 you ng perse ns wh 0 require ea re and prelecli on (d ue to abuse and negi ect) and reba bilila lion (d ue 10 ri sk befla vi ou rs an d Iack of pa renlal su pe !Vision).nd reach Ih ei r fu II potential. sports. . Depe nd ing largely on voJunteer Initiatives .resi dents pa rtle ipate ina host of be nefici aI programmes such as tuition. In 2009. Graceh aven aIso provides a wide va riety of hoi istie and positive lea rni ngexpe rien ces he Ipi"g res idents ave ream e Ihe ir broken pasts to face Ih e future wilh heallhy seIf-esleem and a sanse of rna ra'i and soei aI res pon si b iIiIy. life skills training. creative arts. 10 selected residents had volunteered at tile inaugural ASian Youth .5uppar! isgi ven 10 residents to discover Ihei r siren glhs a. caring and conducive for learning. Caring and dedicaled slaff help children and youlhs work thmugh Iheir personal issues and d ifficu Ilies en oou nle red at ho mea ndin school. Graeehaven is 3.A healthy environment for children to grow up is one that is safe.. Am pie enca ura geme hi and . Th e uII imale goa I is 10 he Ip ea eh yo ung perso n get bac k on th e ri g'hllrac k and retu rn hom a 10 a reconc iled fa m i Iy.


081 Si! IVBlion Army Annual Report 2010 I Chln~lng UV~ lOur Ellorh .

It aims to empo~r the ex-offenders towards successful reintegration into the community which Madam Nura (inmate's wife. After the parent is released from Jail. women and men (ex-offenders). Kids In Play aims to provide the crucial support needed. dedicated staff and other ex-offenders. the Purpose Driven Camp is organized for a small group of ex-offenders and their family members to network and receive support from caring volunteers.Js Ih 'J=>~j Kids In Play is a unique outreach programme that shares a world beyond boundaries with the children of prison inmates. The significance of this meeting the family is immeasurable and many have tears streaming down their faces when it is time to part. the children are permitted to interact with their incarcerated parent without having a physical barrier between them. not real name) will reduce recidivism. Purp ass Drive n Camp Held twice a year. This is one of the ways in which we strive to keep inmates motivated with family support to prevent the brea kdown of the fa miIy unit. Primary caregivers receive practical assistance and counseling to help them manage their situations and keep the family nucleus united in their adversity. At this time. Kids In Play seeks to support ex-offenders by facilitating their reintegration into the community through various aftercare programmes. separate support groups are conducted regularly for children. Family Bonding Programme Amid the extensive scope of its social welfare services. One popular highlight for the children is the structured Family Bonding Programme behind prison walls. As these children struggle to cope with the loss of their parent(s) as a result of incarceration.PRISON SUPPORT SERVICES- K. Salvation Army Annual Report 2010 I Changinll Unsl Our Effurls 09 .



the centre also helped raise public awareness on health issues by partnering health care institutions to conduct insightful talks and workshops on diabetes and dementia care management. and is a cosy haven tor the elderly to enjoy their remaining years in peace with their family and friends. Bedok MultiseMCe Centre tor the Elderly providing day care seMCes lor the elderly situated in the East merged with our Bedok Rehabilitation Centre. Existing programmes such as Integrated Rehabilitation and I ntegrated Care In Place continue to contribute to our nation's goal 01 delivering Quality holistic patient-centriC care. Moving in tandem to meet the needs 01 our ageing population. This communitY-based health care centre has been renamed Bedok Multiservice Centre. In the last year. the newly merged centre has commenced a dementia care programme to provide psychosocial services tor clients with dementia.On 16 October 2009. .

Family Support Services works closely with many corporate and individual volunteers to deliver enriching recreational activities to lonely seniors and disadvantaged families so that they do not feel forgotten and left out in thls fast-paced economy. These significant efforts will enable the needy family to gain reassurance and confidence to work their way to independence and progress. To someone who has no job. youth enrichment and family life education. . Core programmes include social work and case management. The regular food ration. food rations assistance. friendly visit from the social worker and temporary financial assistance are little things that go a long way. Practical support is given to families as well as individuals struggling to cope with difficult situations.~fZll~. Fam i Iy Support Servi ees rnakes the worl d of difference to th eir lives. counselling. elderly drop-in. hungry children FAIW& to feed and unpaid bills. helpful advice.f The family unit is the most valued cornerstone of community life and this one-stop centre is committed to strengthening those ties.tyflll'f S. invitation to a social activity.S.

Firm friendships with peers are also built through positive interactions encouraged by centre staff. Children are welcome before and after school hours to receive guidance and help. 14 I Salvation Army Annual ReP'!rt 2~lO I Chlncln& Uvas lOur EIIorIs- . where seniors form a mutually supportive circle. Young at Heart Life after 55 is still fulfilling and joyful for the seniors who participate in our Young at Heart weekly programme. The student care service aim s to arm ch iIdren w tth bot h aca dem ic and socia f aptit ude to excel in this world with confidence. Young at Heart a Iso aims to nourish the disadvantaged elderly living in the neighborhood by providing them with food parcels upon referral.Student Care SaMee Children learn best in a nurturing and welcoming environment. Communal bonds are created through special outings and recreational activities.

kayaking. Through an opt-in mentorship programme. Home-Run Ministry engages youth on a journey of self-discovery. mature staff focus on key life management areas lor holistic growth to help youth identify and benefit from making wise choices at this crucial phase in theIr lives. Through healthy and invigorating activities. 5alvatioo Aony Ann~. camping and trekking. fOck-wall cl imbing. the spirit of youth is celebrated and dreams are encouraged to grow. motivating them to develop and live out their aspirations This lO-month group-worll program me also Involves parents and teachers to facilitate transformation in the lives of youth.1 Re~rt 2010 I ChDnzl"llJies I Our Efforts IS .The Youth Development Centre aims to serve as a source of hope for latch-key youth from low to middle Income families to lead purposeful lives. in line skating. saecer. SAM (Sports & Adventure) brings out the best in our youth's enthusiasm for new challenges through sports and outdoor adventure program mes they can relate 10. We aim to ignite significant life-changing lessons through activities such as safety cycling.

each child's physical. emotional. cooperation and resilience) ill early childhood.acy Numeracy • • • Aesl'h eti csa nd creative expression Environ mental awa reness Se If an d social awa reness programme aims to cultivate social-emo1ional competence Our character-building in young children. This helps to build positive habits of the mind by laying healthy foundations (confidence. Our-goal is to inspire parents to form home environments !hatare conducive for sharing positive family values with pre-schoolers. organisation. intellectual.. The centres also implement 'Parent Education in Pre-School' that seeks to enhance qua lily of fa m ily Iif!! Iry equi p ping pa rents with releva nts kills and knowl edge to become more effective and laving parents. . persistence. financial assistance is offered to needy fa mil ies on a casa-bs-case ba s is.. T~e participating families tully fund our chlldeara centres.ompasses: • • • Physical aeve!opnienl (including 'orain gym' activities) Langua ge and liter. social and creative potential is developed through an integrated curriculum thatem.At our child care centres.

Genllral Manager. Red Shield Industrius .Tlan Tuh Klan.


To date. volunteers may also initiate signficant projects that further the Army's work with the needy and underprivileged. AnD B Says r. Volunteers are welcome 10 serve directly with benefilliaries through academic mentoring.The Salvation Army welcomes volunteers as partners to march alongside with love and passion. For this. we express our heartfelt thanks to each and every individual who has cantri buted th us fa r. we work towards strategically partnering our volunteers and extending their skills. photography andlor helping at Iundraislng events. just to name a few. Volunts Dr S.salvationarmy. We recognise that meaning1ul engagement and partnership with volunteers will allow us 10 mutually Believing that every volunteer is unique. In addition. serving and enriching lives withont discrimination. knowledge and experience to enrich the care of our beneficiaries. Change lives with the SA-V(Salvation Army Volunteer) family today! For more information. They may also choose indirect precessing. skill-sharing volunteer opportunities such as donations-In-kind and establishing friendships.lvation Aony Annu~1 Reparl20LO I Chlnjlinll Uus lOur Eflam 19 . please visit the SA-V Portal at hHp:l/sg. the impact of our volunteers' effort is greally felt. Partnership opportunities are plentifUl.

With avery seed of hope planted can change 'lives. visit sg. .10 give the most com prehensive care possi bIe to peep Ie inn eed. IDorder to sow a brighter future for the people under our care. You may choose from varied giving options through your Will. insurance policies.salvationall11y. By c hoosi ng to make a lasti ng co nlri butia n to The Salvati on Army. Th ere wi II aIways be people inn eed of assi sta nee beyond you r Iifet ime. no matter how big or small wlU help. The Salvation Army guards its gmwth wHh prudent financial policies. You too. It wou Id be won derful ifs ueh givi ng co uld bs exten ded to the future th rough you r generosity and ki ndness will help sustain our mission that began in 1865. The Salvation Army is most gralefulto donors like yourself who give generously to support 0 U r work dun ng Ihe ir lifeti me. To make a bequest. annuities and Central Provident Fund. '(our gift.

TOICC3012G IIPC NO. SinfilPG'= I S.THE SALVATION ARMY. IPCOD0549) 2. SINGAPORE Social Fund (UEN: T07CC3012G IIPC NO: IPC000549) Financial Statements for the financial year ended 31 March 2010 Together with Statement by the Finance Council and Auditors Report SiMatiun A"'I1 An"ual.1 . Report~OlO IThe Sill\'O!tianA.~i.1 Fund (UEN.rn~.

S:i"ia~Qni I Soeial F!lll~ (UEN: T01CCW12G /IPC .52 221 Salvation Annual Re port 20 I 0 I Th I' Salvltl<l n Anny.F.NO.Financial Statements for the Financial Year Ended 31 March 2010 Contents Stateme nt by the Fl nance Council I ndepen d e nl Aud ito rs' Re port Balance S heel Income aI1d Expe nditure Ac count Staleme nl of Com p rehensive Incom e Stateme nt 01 Cha nges in Fund and Reserve Ac counts Stateme nt 01 Cash.lows Noles to The Fina ne ial State mants Page 23 24 .25 26 27 .28 29 30 31 32.II'C000549) .

e h a pier 37 anel Sin ga pore Fi nanc ial Repo rt ing Sla ndard s so as te prese nt fa irly the state of affa i rs of Th e Sa Ivalion Army. IPCOD0549) Z3 . Report~OlO I The SillVO!tianA. (b) Th e Fina nee Cou neil autho rised the issue of these fin ancial stale menls. TI)lCC3012G IIPC NO. On behalf o1lh eFina nceCounc iI Colenal Gillian 16 August 2010 DOwnilf Territorial Commander SiMatiun A"'I1 An"ual.~i. S i "ga pore Seci aI Funci (the "fw nd") as at 31 March 2. eha rities Act.1 Fund (UEN.rn~. (3) Ih e fi nan ci a I staten ents sel out on pages 26 ln 52 a re drawn u pin a eeo rdan ee wit h Ih e prov is ion s .Financial Statements for the Financial Year iEnded 31 March 2010 State meRt by the Filla nc eColln ell In the opinion of the Finance Council.010 and inco me and expend itu ra account. changes in fund and reserve aceounts and statement of cash naws 01 the iFund for the financial year ended on that date. SinfilPG'= I S. there are reasonable grounds to believe that the Fund will be able to pay its debts as and when they fall due. and at the date of this statement.of 1 he SaIvai io n Army Ord inance. e h a pier 377.

NO. state ment of ehan ges in fu n d and reserve a CiiOU nts an d state ment of cash flaws of the Fund for the financial year then ended. but net lot the purpose of expressing an opinion on the effectiveness of the Fund's internal control.II'COC0549) . We bel. Th e praced ures selected de pend on the au dilo rs' ju dge mest. Th is respon sibility inc ludes: (a) devising and ma. Charities Act. and transactions are properly authorized and fhat they are recorded a 5 necessa ry to perm it the prepa rat io n of true and fa ir profit and IOS5 acco u 1\1 and ba la nce sheet and to maintain accountability of assets. Flna nee Cou nell's R Bsponsi b iIities fa r the Flna ncial State ments Th e Finan ee Cou neil is res ponsi hIe 10r th e pre paralion and.37 (Institutions a PubIic Ch a Annual Re port 20 I 0 I Th I' Salvltl<l n Anny.acter) Regu lalion s 2007 ha s not been exceed ad. fa ir presentatio n of these fi n anc i a I slateme nts in accorda nce with. In making those risk assessments. An audit involves performing proeedures to obtain audit evidence about the amounts and disclosures in the financial statements. statement of earn p re hensive incom e. Those sta ndards req uire th at we co mply wil h eth iea I req uireme nts and pIan and pe rterm the au dit to obta in reason abIe assu fa nee wh ether t:ne f nancia I state ments a re free fro m materi aI misstatem ent. Cha pter 37 (the "Act") and Singapore Financ ial' Reporti ng Sla ndard s.J " Horwath FirstTrust Independent Auditors' Report to the Finance Council of The Sa:lvation Army. S:i"i~. Social Fund (the "Fund") set out on pages 26 to 52.intaining a system of internal accounting controls sufficient to provide. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of aeeounting estimates made by the Finance Council. Ih e provisions of the Salvation Army Ordinance. the auditors consider internal control relevant to the Fu nd 's prepa ratio nan d fa ir presentation of the fin anclal statements in order to des ign au dit proeed ureslhat ara approp riate in the circumstances. whether due to fraud or error. and the income and expenditure account.ieve that the audit evidence we have obtained is sufficient and appropriate to provide a basis lor our audit opinion. Cap. select ing an da ppfyi ng a pprop ri ate a eeeu nti ng pol ie ie $.a reasonable assurance that assets are safeguarded against loss from unauthorised use or disposition. 2-41 Salvation A. which comprise the balance sheet of the Fund as at 31 March 20lO.tes that are reasonable in the circumstances. of (b) (c) The Finance Council is also responsible to ensure that the 30% cap in Regulations 15(1) of Ihe Charities Act.~Qni I Soeial F!lll~ (UEN: T01CCW12G IIPC . incl udi ng the assess men! of the risks of materi aI m lsstateme nt of the financial statements. We co nd IIcted 0 ur aud it in accord anee with Singa pore Sland ards 0 n Aud it ing. Singapore We have audited the accompanying financial statements of The Salvation Army. as well as evaluating the overall presentation of the financial statements. Au d itors' Responslbllitl es Our res ponsi biIity is to express an 0 pinion on tn ese fi na ncia I state ments based on 0 ur au dit. and a summary of si!gnificant accounting policies and other explanatory notes. Chapter 377 (the "Constitutionn). and making accountingestima.

A.~i. IPCOD0549) 25 . TOICC3012G IIPC NO. (a) Ihe finaeeial statements are properly drawn up in accordance with the provisions of Ihe Constitution. (b) Report on Other Legal and Regulations Requirements During the course of our audit. and of the resu lis. and the donations monies have not been used in accordance with the objective of the Fund: as an Iastitutlons of a Publ ie Cha racte r. Si:ngapore (Continued) Opinion In our opinion. SinfilPG'= I S.1 Fund (UEN.apore Financial Reporting Standards so as to preserll fairly in all material aspects thestate I)faffairs I)f the Fund as at 31 Mareh ZO10. c:hanges in fu nd and reserve acceu nts and cas h flows of Ihe Fun d for th e fi nanci a I year ended on th at dale. Horwath First Trust UP Publ ic Accou nta nts and Certified: P~ hi ic Accou nta nts Singapore 16 August 2010 SiMatiun A"'I1 An"ual. the Act and Sing.. and the accounting and other records.rn~. Report~OlO IThe Sill\'O!tianA. nothing has came to our attention to cause us to believe that(a) (b) Ih e Fund did nat com p Iy w illl Regu lati ons 15 of Ih e Chariti as (Institution s of a Pu b Iie Characier) Regu lati ons 2007. Horwath FirstTrust Independent Auditors' Report to the Finance Council of The Salvation Army. required by the regulations enacted under the Act to be kept by tile Fund have been properly kept in accord anee with I hose regu lali ons.

617 9 10 11 93.305 9.196.250 1.836 1.516.084.352.342.719 The annexed notesTOIm an integral part of and should be read in conjunction with t~ese financial statements 261 Salvation Army AI1nualReport2010 I The Salvatlon Anny.958 11.265.747.962 333.768) 65.RVEAND FUND BALANCES Curre nt Ilabll iiias Trade and olh er pa~abl es Rese rve and fu nd bala nues Fair value reserve Capital contribution fund Restricted funds Designated (operational) funds Unrestricted fund 8 1.617 5.081 3. Slngapol'IIl Social Fun~ (UEN!T01CC3012G (IPC NO:IPC000549) .200 1.312 (679.202 471..719 LIABILITY.516.223.564 371.368 9.014 154.528. available-for-sale Current assets Financial assets.580.718 Total Assets 12.302 7.335 Total Liability.722 Total Reserve and Funds 11. available-for-sale Tra de and oth er rece iva bles Fixed deposits Cash and cash equivalents 31 March 2010 $ 31 March 2DD9 $ 3 4 4 5 6 7 160.151.442.384 901.999 2.172 8.165 6.561 9.Balance Sheet as at 31 March 2010 (Amounts In Singapore dollars) Nole ASSETS Hon-current assets Plant and equipment Financial assets.601 1.532.205 2.711 2. RESE.097.434 2.400 74.On.003.174.399 322.338.389. Rasarve and fund Balances 12.097.

481 17.000 Jotallncome resources 483.Income and Expenditure Account for the Financial Year Ended 31 March 2010 (Amounts In Singapore dollars) .459 5.329.006 56B.975 119.385 2. trust funds & ch aritabl e organ isatlc ns I.223.183 Progra m me service incems Government subventlen Grants from foundaNons..389.~i.481 18.1J2 346.614.486 7.975 166.. IPCOD0549) 27 .591.tat~rnenU SiMation Ann' Annual.750 268.329.750 2.202.314 8.521.750 76.921 Nole 12 5.500 212. TOICC3012G IIPC NO.123 3..459 16.1 Fund (UEN. Sin£)!pG'= I S.981.423 89.542 574.531 18.3.nvestment income (Note 13) Renta I inco m e Gain on sate of vehicles Olh er incom e 5.152. Report~OlO I The Sill\'O!tian A'rn~.964 89.021. Designated Restricted (Operational) Funds Funds 31 March .314 8..389.2009 $ $ $ $ Total Total $ Incoming resources Donations Gifts in kind Fund raisi.385 2.006 588.873 The a nnmd notes fIJIin' ani ntegra I part of and sho"J d be ~ad in conjunc~on with thasa IinancJ al.292 463.589 131.976 17.120 153.750 814._-------Unrestri cted Fund Capital Contrib ulion Fund 31 March 2010 --------.531 3.306 18.446 43.750 1.

858 185.957 81.BBO.135 119..607.Assista nee to clients & fa m ilies Fund raising related materials & supplies Pri nli n g & stati 0 nery Maintenance of equipment & furnishings Rental of equipment & furnishings Com mu n lcati a ns Utilities Maintenance of land & buildinl( Rental of bu i Ioi ng Travelling Ma in tena nce of veh lcle Rental of veh lcle Non properij licence & insurance Professiona I & sup port fees Good s & services tax Bad debts written off (trade) Depreciation rr"ote 3) Loss on disposal of investment Impainment loss on financial assets Other expen ses $ $ $ $ $ 5.illutlon Fund 31 March 2010 ------_ Restricted Funds Designated (Operat! Dna Il Funds 31 March 2009 Total Total $ Reso urceselllen ded Staff costs .139 846.069 4.223 195.440.957 81. S:i"ia~Qni I Soeial F!lll~ (UEN: T01CCWt 28 IIPC .House lIeep ing .413 278.NO.595 134.814 I.218.282 1.120 389.559 ]5.918 26.774 779.829 23.026 22.313.200 20.692.191.777 151.597 22.280 101.673 2.612 293.283 50.319 5.566 19.000 35.440.712 1.735 119.856 Total resources eXjlended Net SumlusJ(Delicit) for the year 288.912 530.Educatio n & recreaiio n .8015 154.927.003 850.200 80.031 4.Medical services & supplies .289 324.829 342.610 128.8Bo.235 4.858 185.243.040 276.804 36.202 1.247 129.289 318.546 3.832 874.CIienti nsura nee .B78 15.050 141.II'CCC0549) .194 2.210 80.326 35.189 24.054 342.591 22.122 42.BBO 53.235 4.820 206.128 290.298 16.860 53_.883 132.208 321.236 45.Income and Expenditure Account (Continued) for the Financial Year Ended 31 March 2010 (Amounts 1n Singap ore dolia rs) _-----Unrestricted Fund Capital Contr.2.B4l!.429 6.944 910.130 1..211 151.134 15.529 U.025 15.029 82.010 (37.734 189.040 21B.149 1.Em pi oym ent costs Contra et man powe r services Rec ru itm e nt costs Progra m me relatedcosts .546 -40.010 1&8.202 1.06 307.2 54.134 6.050 129.67.811.183 821.280 151.134 169.659 989.CPF.804 38.293 1.248 Note 12 Thaannexed notes form an integral part of and should be read in 00 njunr:lion with Ihelie financial statements 281 Salvation Army Annual Re port 20 I 0 I Th I' Salvltl<l n Anny.874 1.929 310.899 458.Food & refres hme nts .010) 37.215 5.331 1.739 846.Sa Iaries & bon uses .112 1.275 4U.122 42.395 31.313) IS.Staff ben efits & deve lop ment .610 128.646 310.551 27.888 128..521.429 6.341.246 (28.191.010 41. SOF & FWLcontrin utions .

523) (513..243.236 (28.922) 489.601 209. net ofi ncome tax Transfer to income and expen diture aceounl on disp asaI (Note 4) Fair value loss on financial assets. net of Income tax Transfer ioincome and expen dilure a 1. IPCOD0549) 2.278 The a nnmd notes flJlm ani ntegra I part of and sho"J d be ~ad in conjunc~on with thasa IinancJ al.523) (303.529 206.699) 28..236 (28.529 566.313.(.852 (303.699) 28.~i.253 772.922) (303.010) 195.243.200 OIh er co mprehens ive income for the year.9 . Unrestricted 31 March 2009 Fair Value Reserve Capital Contributio n Fund Restricted Funds Designated (Operational) Funds Fund Net surplusl(deficil} for the year 489.629 530. net of Income tax 206.tat~rnenU SiMation A"'I1 An"ual.922) (32.418 226.782 (31.395 195. TOICC3012G IIPC NO.313) 3.852 $ $ $ $ $ 44.395 172.782 772. SinfilPGr= I S.1 Fund (UEN. available "for-sale recognised directly in reserve (Note 4) Oth er co mprehen sive income fOTthe year.248 Olhe r compre hensive Income lor the year.Statement of Comprehensive Income for the Financial Year Ended 31 March 2010 31 March 2010 Unrestri cled fund fair Value Reserve Capital Contribution fund (31.418 Total $ (32.030 .782 Total com prahensivo inco m eJ (expenses) lor the year 2..629' 44. available -for -sa Ie reeugn ised di racily in rase rve (Note 4) Glhe r compre hensive Income lor the year. Report~OlO I The Sill\'O!tian Arrn~.010) Designated Restricted (Operational) Funds Funds (Amounts In Singapore dollars) $ $ $ $ $ Total $ Net surplusl(deficit) lor the year 2.0 unt on disp osaI (Note 4) Fair value gains on financial assets. net of income tax Total comprehensive ineeme/ (expenses) for the year 209.146.601 (513.373) 2.253 566.

373) (lI0.1200B Tata I co mprehe nsl ve inco m eI (expenses) for the year Transfers Transfer to Genera I Fund Fair Value $ Reserve Restricted Funds $ $ $ 293.196. S:i"i~.305 3.200 195.400) (.399 {37.571) 8.375.400 (15.Statement of Changes in Fund and Reserve Accounts for the Financial Year Ended 31 March 2010 (Amounts In Singapore dollars) Capital Contribution Fund Designated (Operational) Funds Unre stJicted .11'0000549) .368) 1.768) 772.699) l.055 44.146.836 Bala nce at 31·Marc h .265.2010 93.0 489.010} 125.302 (28.278 (15.395 24.72.813 154.084.202 322.571 28.014 11.335 Thaannexed notes form an integral part of and should be read in 00 njunr:lion with Ihelie financial statements 301 Salvation Army Annual Re port 20 I 0 I Th I' Salvltl<l n Anny.223.985.629 $ Total 7.561 Balance at 31 March 2009 Jotal comprehensive Income! (expo nses) for t he yea r Transfers 7.846) (303.598 226.NO.Fund Balance at 1 Apri.030 $ 6.571) 1..532.236 (39.243.852 (38.418 38.342.813.172 2.155 9.~Qni I Soeial F!lll~ (UEN: T01COWt 28 /11'0 .782 65.722 (679.098 (32.600) 477.l56.922) 98.

785) 367.016.128.010 Net .166.087 458.666 38.Statement of Cash Flows for the Financial Year Ended 31 March 2010 (Amounts in Singapore dollars) Note Cash Flows from Operating Activities Surplus for the year Adjustments for: Fair value losses on financial assets.060.228.862 Operating surplus before working capital changes Decrease in receiva bles Increase in payables Net cash ge nerated frn m operating activities Cash Ftows fro m Investl ng Activities Purchase of plant and equi pment Proceeds from sale of investment Purchase of investments Fixed deposits and cash at bank with fund managers Dividend & interest income Proceeds on disposal of vehicles 3 4 7 13 (125.196.601 3.529 3. Salvation Army.437) 3.446) 1.306) 2.518 2.359 179.812) 839.518 Cash and cash equivalents at end of year 7 5.197 133.316 80.699 (15.072 2.571) 17.Sine.026 22.669 (2.220) 212.200 209.750) (179.750 (1.435 4.095) (221.191.1 crea se in cash a nd cash equiva Ients n Cash and cash equival ents at boginning of yea r 1.038.145 (3.444 1.629 4.930.124 273.800 Cash Flows from Financing Activities Depreciation of plant and equipment Transfer to General Fund 3 37.446 Net cash (used inl/generated from Investing activities 1.128 Net cash generated from financing activities 37. available-far-sale on disposal Depreciation of plant and equipment Management fees for financial assets.429 4 13 (3.373.413.T01Ct:3012GIIPC NO.010 32.apore I Social Fund (OEM.200 5.529 (212.320 264.128.953 The annexed notes form an integral ]lart of and should lie read in conjunction with these financial statements Salvation Anny Annual Report2010 I Th.248 31 March 2009 $ 530.453.899. available-for-sale investments Loss on disposal of investments Impairmenlloss Gain on sale of vehicles Dividend & interest income 31 March 2010 $ 2.468.48&.200 &.30& 3.961 4 3 206.889 1. IPC000549) 31 .

32 I Sa lv. Solv. GENERAL INFORMATION The Sslvatlon Army (the "Organisation") was constituted as a Corporation in Singapore under the Statutes of the Republ ie of Singapore. The adoption of the new or revised standards did not require any material modification of the measurement methods or the presentation In the flna ncial statements. Cha pter 37 a nd the Singapore Fi.nancia. Singapore 579768. ministries to delinq uents. The preparation of fina neial statements in conformity with FRS requires management appl~ing the Organisation's accounting policies It also req uires the use of accounting the reported amounts of assets and liabilities at the date of the financial statements. IPC00054S) . The financial statements are presented in Singapore dollars unless otherwise indicated.r~ I Soci01 fund (UEN"T07CC301 :1G{. Cha rilies Ad. The followi ng are the new or revised FRS and INT FRS thai are releva nt to the Company. The financial statements of the Fund for the year ended 31 March 2010 were authorised for issue by the Finance Caunei I on the date of the statement by the Finam:e Council. qualifying donors The fund provides nursi ng home. p. da~ centres for the elderlY. Genera I Fund with effect from 1 Apri I 2009. residsntia I homes for the children and the youth at risk. actual resu 115 may ultimately d. Chapter 377. The registered address of the Organisation is at 20 Bisha" Street 22. lion ~rmy ~n"ual Report 2010 11!0. 2. There have been no significant cha nges in Ihe natura of the principal activities during Ihe financia I year except thai Bukil Panjang Before and After Scheel Care was transferred to The Salvation Army. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of accounting The fin anei aI statsme nls are pre pa red in accord a nee with the hi sto ric a I cost co nventi 0 n. Public Character status. oj Ihe Salvation Army Ordinance. is registered as an exempt charity under the Charities Act. counsell iog services and work therapy for the needy. Chapter 37 and is domiciled in Singapore. Salvation Army Ordinance. Although these estimates are based on Finance and actions. the Organisation adopted the new or amended FRS and Interpretations of FRS ("INT FRS") that are rna ndatory ter application from that date. Socia I fund (the "Fund") is conferred the Instituleof are granted lax deduction for the donations made to the Fund.i!fer from those estimates. to exercise its judgment in the process 01 estimates and assumptions Ihat affect and.tood for families. Chapter 377. Accordingly.Notes to the Financial Statements for the Financial Year Ende'd 31 March 2010 (Amounts in Singapore dollars) 1. The Salvation go Army. sxnenditured uring the financial year.Ipe HD.1Reporting Standards ("FRS"). Sing. the reported amounts of income and Council's best knowledge of current events Adoption of new and :revised standards On I April 2009. except as disci osedin th e acco unli ng policies below and are drawn up in accordance wilh the provisions.

amend ments and interpretations 10 existing standards have been published and are mandatory f.mendments to FRS101 Improving disclosures about financial statements The amendment requires enhancedd iselesures about fa if value measurement and liq uidity risk.FRS 39 Finandallnstruments: Recognition and Measurement Effective for annual periods beginning on or after 1 January 2010 1 January 2010 1 January 2010 1 Jan uary 2010 Tne OrRanlsatinn's assessment 01 the impact of adopling those standards.ny has chosen tv adopt the formereltematlve. Singap.000 are capITalised in the ljl'ied asset register provided they are durable in nature and not consumable ilems. Description Improvements to FRS issued in 2009 . Amendments to FRS 1 Presentation of Financial Statements -Amendments to FRS 7 Statement of Cash Flows .ACCOUNHNG POLICIES (CONTINUED) Adoption 01 new and revised standards (continued) (a) FRS1 {revised} Presentation of financial statements The revised standard prohibits the presentation 01 items of income and expenses (that is. the amendment requires disclosure 01 fai r value measurements by level of a fsi r value measurement iJ·ierarchy. where comparative information Is restated or reclassified.Am en d ments to FR S 17 teases . All ncn-ewner changes in . a restated balance sheet is required to be presented as atlhe beginning comparative period.or tile Organisation's accounting periods beginn.Notes to the Financial Statements (Continued) 2. There is no restatement of the balance sheet as all April 2009 in the current financial year. Ann"al Report 1010 IThe Sal. IPC000549) 33 . Hew accoun1i n g stan d ards and FRS m 10 rp retatin n S Certain new standards. The adoption of the amendment results in additional disclosures but does not have an impact on the accounting policies and measurement bases adopted by Ihe Company. (b) on or alter 1 April 20 10 or later periods and which Ihe Organisation has not ea rly a dopled.r~ I Sg~i"1 Fund IUEM. Individua I additions costing more than $10. The Compa.atiDn Army. In addition. After initial recognition plant and equipment are slated at cost less accumulated dapreclatlon and any accu mulatsd impairment lass. Salvalion lum. Plant and equipment AJI items of plant and equipment are in itially recorded at cost. SUMMARY OF SIGNIFICAIU . "non-owner changes i. amendments and interpretaliens that are not expected 10 have any material impact on the Orga nisation.rC:1CC3012G IIP·C NO.n equity") in the statement of changes in equity.equity are shown in a performance statement but entitiss can choose whether to present one performance statement (the "statement of comprehensive income") or two statements (the income statement and statement of comprehensive income). In particular.

An impairment loss is cha rged to the income a na expenditure account in the period in which it arises. lion ~rmy ~n"ual Report 2010 11!0.usefullile. the asset's recovera ble amount is estimated.r~ I Soci01 fund (UEN" T07C C3 01 :1G I . Scheme in progress is reclassified to the appropriate category 01 property. 1mpairm e nt 'of non" linane i a I asse Is An assessment is made at each balance sheet dale 01 whether there is any indication of im palrment of any asset.rowing costs capita I ised in accordance with the Organisation's accounting policy. however not to ana mount higher than the carrying amount that wou Id have been determined {net of any depreciatlcm had no impairment loss been recognised fer the asset in prior years. The gain or loss arising on disposal or retirement 01 an item 01 plant and equipment is determined as the differenr. method and period of depreciation are consistent with the expected pattern of econumic benelit from items of plant and eq uipment.s fair value less costs to sell. 34 I Sa lv. .IP C00054S) . SUMMARY or SIRIUFICANT A'CCOUNHNG POLICIES (CONTINUED) Plant and equipment (Continued) Scheme in progress incl udss all cost of scheme and other direct costs. for qualifying assets. Scheme in progress is not depreciated. Value in use is the present value 01 estim aled future cash flows expected to arise from the ccntlnu ing use 01 an asset and from its disposal at the end of its . An impaiement loss is recognised only if the carrying amount 01 an asset exceeds its recoverable amount. An asset's reeoverable amount is calculated as the higher of the asset's value in use or it. Uselullives 5 years 5 years Molo r veh icle s Equipment The estimated usefullile and depreciation method are reviewed periodically In ensure that the amount. Fully depreciated assets are reta ined in the flnancia I statements until they are no longer in use. bor. All other items of plant and 'equi pmsnt are depreciated using the: stra igM-line method 10 write-off the cost of the assets over their estimated useful lives as follows. pia nt and eq uipment wilen complete and ready to use. Ila ny such indication exists. or whether there is any indicalion that an impairment loss previously recognised lor an asset in prior years may no longer exist or may have decreased. Solvatl go Army. unless the relevant asset is carried at a reva laed amount in which case the reversal.Notes to the Financial Statements (Con1inued) 2. unless the relevant asset is carried at a revalued amount in which case the impairment loss is treated as a revaluation decrease.Ipe H D. A previously recognised impairment loss is reversed only if there has been a change in the estimates used to determine the recoverable amounlol a n asset. Cost includes professional fees and. A reversal of an impairment loss is credited to the income and expenditure account in the period in which it a rises.e between the sales proceeds and the carf1jing amounts of the asset and is recognised in the income and expenditure account. ot the im pairmentloss is treated as a revaluation increase. Sing' p.

Suoh assets are initially recognised allair value plus transaction costs and are subsequenUy carried at amortised costs using the ellective interest method.atiDn Army. The eflective interest rate is the rate that exactly discounts esti mated future cash receipts or payments through the expected life of the financial instru ments. Income is recognised on an effective in. Gain and losses are recognised in the income and expenditure account when the loans and receivables are dereeugnised or impaired. (ii) financial assets. held-to-matur.ncial assets with fixed or determinable paymerits that are not quoted in an active market. The Fund has no financial assets at fair value through profit or loss and fina ncial assets.1 assets are derecognised when the rights to receive cash flows from Ihe financial assets have expired or have been transferred and the fund have transferred substantially all risk and rewards 01 ownershi p.Ihe date on which Ihe Fund com mits to purchase or sell t he asset. Financia.ity-inveslmenls. IPC000549) 35 . as appropriate.lerest rale basis for debt lnstru ments other than those fina ncial instruments at fair va Iue through profit or loss. . Tiley are included in non-current assets unless Finance Council inlends to d ispose of the assets within 12 months after the ba lance sheet date. a shorter period.r~ I Sg~i"1 Fund IUEM. available-lor-sale Financia I assets. with the . held-te-maturm (i) Loans a nd receivables Loans and receiva bles are non-derivative lina.rO. the d iflerence between the carrying amount and the sale proceeds is reeugnised in the income and expenditure account.lCC3012G IIP. SUMMARY OF SIGNIFICAIU .Notes to the Financial Statements (Continued) 2.e NO. available-Iorcsale are non-derivatives that are e~ther designated in this category or not classified in any of the other categories. (c) Recognition and clerecognition Regular way purchases and sales of financial a ssets are recognised on trade-date. Any amount in the fair value reserve relating to that asset is Ira nsterred to the income and expenditure account Salvalion lum. Singap. the Fund becomes a party to the contractual provisions of the financial instrument The classification depends on the purpose for wh ien theassets were acquired. On disposal of a financial asset. (0) Effective interest method The effective interest rate methed is a method 01 calculating the amortised cost of a financial instrllment and of allocating interest income or expense over the relevant period.exception that the designation ollinancialassets at fair value through prom or loss is net revocable. Financial assets are recognised on the balance sheet when and only when. or where a pptopriate. Ann"al Report 1010 IThe Sal. Management determines Ihe classification 01 its fina ncial assets at initial recognition and re-evaluates this destgnatlon at every reporting date. as wel'l as through tim am 0 rtisa! ion process.ACCOUNHNG POLICIES (CONTINUED) 'Fina nc iaJ assets (a) Classification Financial assets are classified as 'either flnancia I assets at fair value through profit or loss. avallable-fnr-sals financial assets and loans and receivables.

lpe HD. The amount of reversal is recogn ised in the income and expenditure account. and are subsequently measured at amortisedcosl. net of Ira nsacticn costs. cancelled or they expire. Solvatl go Army. loans and receiva bIss and financi aI assel s held-to. (ii) Financial assets. and is measured as Ihe difference between the asset's ca r:ry~ngamount and ths present value of estimated Mure cash [Jaws discounted at the effective interest rate computed at inilia I recognition.matu rily ara carried aI amort ised cost usi ng the effective interest In elh od. which genera Ily are on normal credit lerms. and only when. The impairment losses recognised in the income and expend iture account for eq uity instru ments are not reversed through profit or loss. lion ~rmy ~n"ual Report 2010 11!0. Ihe cumulative loss in the fair value reserve is transferred to the income and expenditure account. less any impairment loss previously recognised in the income and expenditune account. The cumulative loss is the difference between the acquisilion cost (net 01 any pri neipal repayment and amortisation) and current fair value.G POLICIES (CONTINUED) Financial assets (Continued) (d) Initial and subsequent measuremen. Sing' p.ci01 fund (UEN" T07C C3 01 :1G {. 1mpairment lusses are reversed in subsequent periods when an increase in the asset's reeevera ble amount can be related objectively 10 a n event occurring after the im palrment was recognised to the extent tnat the carrying amount of the asset does nol exceed its a mortised cost at the rsversa I date. The Fund dereccgnises fine nciallia bilities when. . which a re recognised at fair value. the fund's obi igations are discharged. Financial assets.r~ I S. are initially measured at fa ir value. The impairment losses recognised in profit or loss for debt instruments are subsequently reversed if an increase in the fair value of the instru ments can be objectively related to event occurring after the recognitiM of tlm impairment [ass. (i) rinancialassets carried at amortised cost An impairment loss is recognised in income and expenditure account when there is objective evidence that the asset is impa ired. available-far-sale and at fair value through profit or loss are subsequently carried al fair value. using the effective interest rate method.I P C00054S) . Transaction costs for financial assets at fair value through profit and loss are recognisedin the income and expenditure account. SUMMARY OF SIGNIFICANT ACCOUNTIN. The caicrying amount ot the asset isreduced Ihrough the use of an allowance accou nt. r (e) Impairment The finance Council assess at each balance sheet date whether there is any objective evidence that a financla I asset or group of fina neial assets is lmpa ired and recognised the im palrmant loss when such evidence exists.Notes to the Financial Statements (Con1inued) 2. Flnanclal llabllltles Payahles.t Financial assets are initially recogslsedat fair value plus transaction costs. except for financial assets at fair value through profit or loss. 36 I Sa lv. avai table-for-sa Ie When the asset is im paired.

highly liquid investments read ily convertible to known amounts of cash and subjected to an insign ificanl risk of cha nges in va'ue and have a short maturity of generally wrlh in three months when acquired. where appropriate. IPC000549) 37 .ONTINUEO) 'Cash and cash equivalents For the purpose of Ihe statement of cash flows. the provision is discounted using a current pre lax rate that reflects. Where the effect of the time value of money is material. the provision is reversed. Unrestricted fund This is Ihe working capital 01 the Fund. Operating lease payments are recognised as an expe~se i. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (C. Singap. When discounting is used. Provisions are reviewed regularly at each balance sheet date and adjusted to reflect the current best estimate. the risks specifiC to the liability.Notes to the Financial Statements (Continued) 2. Gash and cash equivalents are short term.r~ I Sg~i"1 Fund tUEM. as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be required to setlle the obligation. plant and equipment. and a reliable estimate can be made 01 the amount of Ihe obligation. Ann"al Report 1010 IThe Sal. Operating leases Leas as wh era th e lessol effecl ively mlai ns su bsta nIi alIyall th e Ii sks and rewa rd S of ow ners hip of th e leased itern a ra cl ass ilied as operating leases. Designated I(Operational) funds Designated funds are funds specifically set aside by the fund to meet planned or anticipated needs. the increase in the provision due 10 the passage of time is recognised as a fina nee (lost funds and reserve (i) Capital contribution lund Capital contribution fund represent fund set up by the Fund to meet the costs of property.rC:1CC3012G IIP.atiDn Army. cash and cash equivalent com prises cash on ha nd and in banks. Provisions A provision is recogn ised when there is a present obligation.. If it is no longer probable that an outflow of ecenem ic resources will be mquired to settle the obligation.n tile income and expenditure account on a straight-line basis over the lease term. legal or constructive. fair value reserve (i i) (i ii) (iv) (v) Ih e fa ir va Iue reserve arose from the umea Iised lossol iinvestme nts.C NO. Salvation lum. iRestricted lends Restricted lund a re donations held for restricted purposes as specified by the donors.

Gain on sales of investment is recognised on a trade date basis where the sales of an investment is under a contract whose term s require delivery of the investment within the time frame established by the market concerned. It also includes members of the key management personnel or close members 01 the fam ily of any individua I referred to herein and others who have the ability to control.Notes to the Financial Statements (Con1inued) 2.lpe HD. any such individual. Donation-in-kind are recognised when the lair value of the assets. or is under com mon or joint control with these persons. diret:ll!i or ind irectly. it is recognised in the income and expenditure account over the periods necessary to m atch them on a systematic basis to the costs. Dividend income is recognised when the right to receive payment is established. taking into account the principal a mounts outstandinga nd the interest rates applicable on an effective yield melhod. Govern m e nt gra nts Government grants are recognised at their fair value where there is reasonable assurance that the grant will be received and all terms and conditions relating 10 the grants have been complied with.l fund (UEN" T07CC3 01:1G{. lion ~rmy ~n"ual Report 2010 11!0. 38 ISa lv. . Dona. When Ihe grant relates to an expense ltem. joi ntly control or significantly influence by or for which signilicant vol.G POLICIES (CONTINUED) Relate d pa rties A related party includes the Fina nee Cawnci I members who are the key management person nel of the Fund. Interest income from ba nk-daposits and bonds is accrual on a lime proportion basis. is controlled by. II a Iso includes an entity or person that directly or indimclly controls.I PC00054S) . The following specific recognition criteria must also be met before revenue is recognised: Revenue from rendering services and prcgra mrne fees are recognised on an accrual basis as and when the services are rendered.!ions are recognised in the income and expsnditura account when they have been received and on accrua I basis when the donations are com milled to the Homes. SUMMARY OF SIGNIFICANT ACCOUNTIN. Sing' p.r~ ISoci. Jobs Credit Scheme Cash grants received from the government in relation to the Jobs Credit Scheme are recognised as "Government Subvention" income. R evenu e ra cogn iti 0 n Revenue is recognised to the extent that it is probable thatlhe economic benefits will flow to the tund and Ihe revenue can be reliably measured.lvatl go Army. which it is intended to compensate. received can be rea sonably a seerta ined. S.i ng power in such entity resides with. Ope raf n g g rants are aecoo nte d for on a n a ecru a I ba si s.

['oreign currency Ira nsacfions Transactions in foreign currencies are measured in the functional currency of the Fund.e account for the period. Exchange differences arising on the retranslalion o~ ncn-mcnetary items carried at fa ir value are inc Itided in inco mea nd expendil ure accounotlor th B peri odexce pt fo r difteren CBS arisi ng 0 n I he rstra ns.' items.C NO.rC:1CC3012G IIP. Exchange differences arising on the settlement of monelar. and on retranslatien 01 monetary items are included in income and expenditur.' items measured at fa ir value in foreign currencies are translated usi ng the exchange rates at the date when Ihe fair value is detsrm ined. (ii) Employee leave entitlement Employee entitlements to annuel leaee are recognised when they accrue 10 employees A provision is made for the estimated liabilfly as a result of services rendered byem ployees up to the ba lance sheet data.Notes to the Financial Statements (Continued) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (C.i) !Retirement benefITs The Fund makes contribution to the Central Provident Fund (CPF) Scheme in Singa:jJore.i n reserve entity are presented in the currency of the primal)' economic envi.atiDn Army.ronment in which the entity operates (its functional currency). a defined contribution pension schemes.t exchange rates approximating those ru ling at transaction dates. For such non-monetary items. MonetaI)' assets and liabilities denominated in foreign currencies are translated at the closing rate al BYichange ruling at balance sheet date.he Fund. any exchange componentoi that gain or loss is also recognised direr. The financial statements of the Fund are presented in Singapore dollars.1 li on of non-m 0 neta ry a items in respect of which gains and losses are recognised directly in reserve account.8S at the dates of the initial transactions: Non-monetar. IPC000549) 39 .r~ I Sg~i"1 Fund IUEM. Obligations for contributions to defined contribution retirement plans are recognised as an expense in the income and expenditure account as and when theya:re incurred. Singap. Functional and foreign currencies Functional currency and presentation cu rrency The financial statements of . Ann"al Report 1010 IThe Sal. which is the functional cu.' items that are measured in terms of historical cost in a loreign currency are translated using exchange rates .ONTINUEO) Employees' benefits (. and are recorded on initial recognition in the functional currency a.mmcy of t. Non~monelar.tly. Salvalion lum.

812 305.699 98. S:i"ia~Qni I Soeial F!lll~ (UEN: T01CCWt 28 IIPC .891 Less : lm pa irm ant loss (22.Goo 16o.898 4.097 37.progress Total $ 163.532.107 3. at fa ir va Iue 2009 $ 4.899 104.534. 401 Salvation Annual Re port 20 I 0 I Th I' Salvltl<l n Anny. II'CCC0549) .362 The fair value of quoted bonds and equity shares are based on the bid price on the last market day of the financial year.210 144.600 Aceu m ulaled de preclati 0 n As at 1 April 2008 Depreciation for the year 65.000 39.598 35.200 3.010 135.098 6.529) 3.601 65.400 3.529) 3.399 98.497 40. AYAILABLE·FOR·S. at fair value QIloted equity shares.GOI As at 31 Ma rch 2009 As at 31 Ma reh 2008 74.600 $ 179.020. The quoted equity shares are part of the investment portfolio managed by a group of fund menagers in UOB Asset Management LId ant! lion Global Investors Ltd.000 912.091 2.200 6.NO.800 2.600 12.343 6.496 125.496 86.600 68.999 110.554.707 As at 31 Mareh 2009 Depree ialion for t he yea r As at 31 March 2010 Net e a rrylni! a mounl As at 31 March 2010 114..Notes to the Financial Statements (Continu ed) 3.308 As at 31 March 2010 16.400 g.814 6.ALE 2010 .942. FINANCIAL ASSETS.000 $ 39.200 9.$ Quoted bonds.343 (22.800 39.2009 Additions Equipment Scheme in .398 32..831. PLANT AND EQUI P M ENT Motor vehicles Cost As at 1 April 2008 and 31 March .212 249)08 $ 16.

Notes to the Financial Statements (Continued) 4.453.814 (2.400 28.66% (201J9: 0.564 The effective interest rates for theabove quoted bonds range Irom 0.095 (4.529 (22.523) 3.FOR-ULI (Continued) Movemenl of financial assets.383) 209.412 3. TOICC3012G IIPC NO. th ey fa rm pa rt of the eashan d ea sh equiva lents in the statement of ca sh flows.33% and 1.1 Fund (UEN. SinfilPG'= I S.5% to 1%) per annum. available-fer-sale 2010 $ Balance at beginning of financlal year Additions Disposals Fai r val ue losses tra nsferred to incom e and exp end tlu re aceo u nl on disposal Impairment loss Net fair value gains/(losses) recognised in equity 2009 6.060.831.814 3.308.228 108. IPCOD0549) 41 .362 (1.389.400) 5.003. Report~OlO I The SillVO!tian A.rn~.0042% to 1.250) $ 3. SiMatiun A"'I1 Annual. a. ASSETS. FINANCIAL.44%) per annum.081 4.490) 206.205 6.962 Balance at end of financial year Less: non -c urrent po rt ion Current port ion 1.6% (2009: 0. !lowever.785 (1.553 2.831. TRADE AND OTHER RECEIVABLES 2010 $ 2009 335.601 (22.pon pre-mature withdrawal.~i.529) 566.le will be forfeitedu. 5. to 7 months) from the end of the financial year and earn interest rate of 0. FlKED DEPOSITS The fixed depos its at ba Ianee sh ~t date have a m atu rityperi od of betw~n 6 days to 12 months (2009: 2 days.532.000 27.240 333.801 46.110.253 8.14% to 0.113 4.868 $ Aceo unts receiva blss Deposit Daid for pu rehase of a mhu Ianee (Note 16 a) Prepayment Accm ed inle rest Advances 146.603.528.2. As the principal value of the deposits is readily converti ble to cas h.442. AVAILABLE·.'nyinterest receivab.529) (513.24 371. f[)!ed deposits with maturi1y estes more than 3 months can be withdrawn anytime before the malurity·dates without penalty.

of c ash flows * These monies are not freelyavatlable for use by the Fund as the monies are restricted for investment purposes and are part of Ihe investment portfolio managed by a group of fund' managers in UOB Asset Management ltd and lion Global Investors Ltd (Note 4).551 901.128.701 1B2.490..599 (205.814 2.NO.190 84. TRADE AND OTHERPAYABLES 2010 $ 2009 $ 375.747. CASH AN 0 CASH ED.UIVAtENTS Cash and cash equivalents included in the statement of cash flows comprise the following: 2010 $ Cash and bank balances.510.675 (116.923 1.S73) (485.500 6.Notes to the Financial Statements (Continu e d) 7.Medifund .953 Cash and cash eq uivalent! per state ment.721) Fi~ed d epos its (N ate 6) less.590 51.Filled deposits (147.819.072. II'CCC0549) .~Qni I Soeial F!lll~ (UEN: T01CCW12G IIPC .my Annual Re port 20 I 0 I Th I' Salvltl<l n Anny.Cash in hand .379 1.719 164.196 173.958 3.166.With fund managers 2009 $ 24.156 97.500 182.518 17.Cash at banks .973 2.. S:i"ia. B.044 205.882 142.114.961.108) 4.420 97.334 6. With fund managers" .165 2.717 5.151.338.Cash fu nds .312 Accou nts payabl e G rantslrom c h ari ta bIe lou n d at ion received in a dva nce Govemmentgrants received in advance Deposits ProVision for u"consumed leave Fees paid in advance 526.001) 5.384 421 Salvation A.613 176.813 173.434 4.721 2.

859) (l0.106) (59.399 39.655) (52.345) (9.836 477.859) (10.000 (168.699) 'Balance as at 31 March .856) (39.345) (9.462 226.655) (52.836 SiMatiun A"'I1 Annual. trust fu nds & ch arita ble orga nisati ons Less: staff sa Iaries & bon uses Less: CPF.319) (5.600 86. RESTRICTED FUNDS Special Projects Yellow Ribbon Total $ $ $ 293.176) (38.1 Fund (UEN. SinfilPG'= I S.106) (59.291) (16.571 77.176) (38.SDF & .Notes to the Financial Statements (Continued) 9.000 (104.462 2.283) (50.BOO) Bala nce as al31 March 201 0 477.010) (20.000 {113.566) (19. rOlCC3012G IIPC NO.566) (19. trust funds & charitable organisations Less: staff salaries & bonuses Less: CPF.319) (5.692) Balance as at 31 March 2009 Donations Gra nts from lou ndatten s.189) (24.SDF &FWL Less: c Iien't aduc a1ion & rec reati on Less: asslsta nee to cl ients & lam iii as Less: maintenance of equipment &.000 (lO4.202 10.703) 322.600) 130.200 131.furnishings Less: maintenance of land & building Transfer to capital contribution fund (Nole 9) 322.rn~.856) (39.692) Balance as at 1 Ap~il 2008 Donations Grants from foundations.010) Transfer from restricted funds (Note 10) Transfer from designated (operational) lunds (Note 11) Less: depreci atlo n (Note 3) Bala nce as aU I March 20 I 0 154.571 77. CAPITAL CONmlBUTlON FUND $ 'Balance as at 1 April 2008 Les s: de preei atio n (Note 3) 98.000 (54.459 216. Report~OlO I The Sill\'O!tian A.26.892) (7.2009 65.FWl Less: client's education and rscreaten Less: ass ista nee to fa mil ies & cl ients Less: ma inten ance 01 equipmen t & fum ish ings Less: maintenance of land & building 293. IPCOD0549) 43 .307) (20.283) (50.~i.213 (37.200 131.098 (32.459 346.

774 91.516 2.043 69..314 8.423 89.223.213) (62..3.006 568.116) (86. S. tru st tunds& charitable organisation Investrn e01 income Renta I incorne Gain on sale of vehicles other income Total incoming resources 105.352 36.056 17.329)50 614.070 1.155 5.123 3.712.1"50 38. INCOME AND EXPENDITURE . lion ~rmy ~n"ual Report 2010 11!0.527.306 18.021.957 1.325 17.531 3.Notes to the Financial Statements (Con1inued) 11.240 47.476.403 1.213) (63.400 Total $ 1.533 1.090.055 17.571 5.714 620.215) 0..031) (4.054.lvatl go Army.824 330. Sing' p.152.302 14.149 )3.759 $ 288.389.481 18. loss on inve st ment Less: tra nster to Genera I Fund 107.568 $ 10.422 2.28E 37.540) (15.m $ 83.921 30.083 900 55.156.571) Balance as at 31 March 2009 Investment income Gain on sa Ie of vehicles Iranster from unrestricted fund Less: st aII sa Iaries & bonuses Less: CP ~ SD F & FWL Less: transfer to ca pltal ccntri butinn fund (Note 9) Less: transfer to unrestricted fund 105.92£ 44 I Sa lv.699 11.001 21.597 1.677 114.631 3.975 8.723 10)13 105.828 ISO 2.947 58.l fund (UEN" T07C C3 01 :1G {.285 295.r~ I Soci.763 2.828 $ 209.085 38.372 3.400 1.004.214 28.600 2.000 167.297 2.785 (41.624} (86.178 36.000 1.745 $ 5.BY SERVICE TYPE Admin PR Appeals Nursing & Reh abililalio n Children's Homes Families & Youth Community Total $ Incoming resources DonatiDns Gilts in kind Fund raising Progra mme serIIiee inco me Governmen! subvent ion Gfa nIs lrom 10 undati ons.004 8.940) Balance as a! 31 March 201 0 108.600 Reserves $ 44.084.491 31.126 370.571) (6. IP C00054S1 .302 1.393 31.Ipe HD.750 1.070.031) (4.975 179.999 74.561 12.867 40.000 (6.195. DESIGNATED (OPERATIONAL) FUNDS Children EducatiDn Programme Vehicle $ Balance as at 1 April' 2008 Servi ce inca me Investme nt Income Transfer trom unrestricted fund Less.883 3.491 825 Reserves $ 1.540) (l5.223.385 (41.049 $ $ 5.620 18.215) 39.693 117 157.750 76.385 2.158 916.570 248.338 14.

369 171 992 Reciuitmen I cosh Programme related costs • food & refresh ments • Medic aI serv ices & supplies.191.260 230 23. recreation • Housesee pi ng • Client lnsu ra nee Assista nee 10 C Ile rrt:s 11< III m ilites fun d ra isiog re Ialed materia Is & su pp lies Printing & stationery Maintenance of equipment & furnishings 'R~nla I ul equi pmen! & fum ish jngs Com municalio ns Utilities Maintenanc~ of land & building Renta I uf bui Iding Travelling Maintenance of vehicle Rental ul v€ hlc Ie Non pm peity Iice" ~B & j nsum nee Pmfess ion aI & sup port fees Good s & sel1Jices tax Depreei alion Loss on dispnsa I 01 inV€stments Other .537 17.210 80.763 9.397.53.032 (959.874 1.313.134 68.790 I.487.686 1.478 883.711 3.322 689.653 10.081 1.316 32.537 2.355 65.514) 530.804 36.360 26.221.484 27.atiDn Army.289 324.003 850.149 1.152 9.77Z 1.880.766 1.503 10.495 4.516 572 3M 2.050 19.937 63.889) 4.483 3.158 17l.673 (130.739 7.959.428 243.842 1.860 .372 31.836 23.722 42.125 540.236 2.172 47.050 148.554 257 111.273 859 532 4)69 216.384 11.200 Salvation lum.36~ 2.860 7.46S 10.el(llen ses Tulal r~sources expend~d (Defic it}/Surplus 10r the year 2.817..180.957 27.851 163.087 29.792 10.m 198 9.m 169.924 10.294 3. Ann"al Report 1010 IThe Sal.234 594.739 846.291) (279.e NO.429 5.878 15.129) (295.884 149.941 (414.360 99.983 4.092 37.m 624.975 8.957 81.777 151.062 1.248 (Deficit)/Surpi us lor Ih e lin ancle I year en dell 31 Marc h 2009 (454.212 2.1 DB) 237.692 7.202 1.735 119.864 1.900 119.923) 750.m 989 95.536 3.474 173 311.Notes to the Financial Statements (Continued) 12.BY SERVICE TWE (Continued) Nursing & Admin PR $ Resa urces exp ended Staff costs • Salaries & bonuses • CPF.382) (254.114 26.795 9.419 4.548 5.155 2.200 80. rC:1CC3012G IIP.879 2.521.27~ 58.597 22.909) (244.411 547 1.:123 250.704 34.067 275. INCDME AND EXPENDITURE .866 3.779 69.075 17.258 0.779 60 7.361 50.697.259 89.466 ].679 15.054 342.235 4.31~ 24.840 1.987 30.286 14.535 23.m 6.320 9.SDF & FWL cnntri b utien 5 · Staff be nefits & dewelopme nt • Em ptoym en! costs GonlraGt man powe r SBI1J ices $ App eals Rehab iI italion $ $ Children's Homes Youth Families & Community $ $ $ Tctal $ 167.891 15.511 78.467 1.546 40.610 128.2BO 151.545 1.062.04Q 276.034.550.846 109.691 650 894 4.337 I..421 3.559) 0.195 54.554) 2.IJ6 251. Singap.936 71.225 (79.889 3.076 4.357 488.422 12.248) 70.r~ I Sg~i"1 Fund tUEM.889 456.671 342.440.936 7.058) (316. • Ed ucsti on &.388 33.929 310.412 3.858 785.648.243 2.071 38.900 70.968 2.386 15.043 140.206 327. IPC000549) 45 .638 3.910 2.809 138 1.777 473 426.

823 Dividend income Inle rest inca me .219 102.Notes to the Financial Statements (Continu ed) 13. The Finance Council members.446 1'4.536) of which $97. 461 Salvation A.500 (2009.624 127. There is no claim by the Finanee Cou neiI mem bers for services provi ded '10 the Fund. During the financial year. or ather benefits.200 1. 15. the Fund has issued tax exempt receipts for donations collected amounting 10 $6.259 11.464.751.500) is included in Trade and Other Payables as Grants received in advance from charitable foundations (Note 8).Is have been recorded in The SaIvatio n Army. $97.024 $ 2009 $ 68.381 Key management personnel comprise members of the Rnance Council.NO.670 1.682 .240 1. fmm the Fund for which they are responsi.023 106.ble. INVESTMOO . RELATEDPARlYlNFORMATlOH In add ilion 10 Ih e related pa rty i"form ation d isclased elsewhe re in the fina nci aI ststeme nts. sl gn ificant tra nsacli ons with rei ated parties on te rm s agreed between th epa rties were as foil ows.317 10.427.261 (2009: $6.natlons made to the fund. S:i"i~.INCOM.E 2010 62. TAX-EXEMPT RECEIPTS DOltATION The fund enjoys a concessionary lax trealment whereby qualifying donors are granted tax deduction for the do.II'CCC0549) . The key management person neI received rem uneratia n or olhe r benefits at wh ic h lh e arnau". 2010 Transactions witll General Fund Singapore Expend itu re Staff Training development THQ Admin Support Travelling levy $ 2009 $ s Annual Re port 20 I 0 I Th I' Salvltl<l n Anny.030 77.967 43.930 650 Transactions witll Property Fund Singapore Expendltu re Property MaInten anee Levy Rental a! Building Renta I of Quarters 30. have nat received remuneration.306 212. either by rei m burseme nt to the Finance Council members or by providing the Finance Council' members with an aHowance or by direct payment to a third party.bonds 179.831.395. or people connected with them.280 1.fixed deposits .~Qni I Soeial F!lll~ (UEN: T01CCW12G IIPC . or from instilutions connected with the fun d.536. General Fund.852 960 84.

805 25. By virtue of section 13(1)(zm) of the income Tax Act Chapter 134.after 1 year not later than 5 years 29. A si gn ifieant portio n of the risk m anagem ent is entru sted 10 two erum a I j und man agers (" FM'r) (Note 4) wn 0 operate ba sed on th e investment mandates entereainte. the Fund is exempled from income lax.191 44.~i.1 Fund (UEN.400 was pa. SiMatiun A"'I1 An"ual. TOICC3012G IIPC NO.861 $ 19. SinfilPG'= I S. Chapter 37.Notes to the Financial Statements (Continued) 16.ion. TAXATION The Organisation is registered as an exempt eha~jty under the Charities Act.8 s Scheme in prngress (Note 3).600 was pa i d fo rth e co m puter system and taken up . Report~OlO IThe Sill\'O!tianA. The Finance Council conducts regular reviews on tile investment performance of funds under FM's management. Ihe Fund overall strategy remains un eh a n ged from for the ambulances and taken up as I rade an d at her receiva bles (Note 5). a) COMMITMENTS Capital Commitment During Ihe financial year ended 31 March 2010. the Fund entered into an agreement to purchase two ambulances and a computer system for $271.'r . None of the leases includes coniingentrental.MAIfAGEMENT Flnancial risk managem enl ohle ctlves an dpollci es The Fund's activiti as expose it loa variety of finane ia I risks. Pmgressive paym ent of $39. Overall ris k management is determined by the Finance Council. b) Operating lease Commitments As at 31 March. H.725 29. and advises matters relating to investmenl administral. There has been no significant change in the manner in w'hich it manages and measures the risk. 18. The written policy is periodically reviewed by the Finance Council to ensure that the Orga ni s ation pol icy gu idel ines a re co m plied with. RISKS AND . additional debt or further leasing.000 respectively. Itle Fund hascemmitnents for future minimum lease payments under non-cancellable respect of renta I of eq ui p me ot a s fa lIows: operating leases in 2009 2010 $ future minimum lease payments ~ not later than 1 yea.996 59. A deposit of $108.000 and $132. IPCOD0549) 47 . The Organisation does not have a formal overall risk management policy except for a written policy covering investment of excess cash.586 Lease terms do not centain restrictions on the Fund's activities concerning dividends. inel ad ing the effect of ell an ges in interest rates.rn~. FINANCIAL.

fixed rates FIXed de posit Quoted bo nd s 3. The Fu nd is exposed to interest rate risk as ch a ngas in interes! rates affect the market va'lue of its investment portfol io. Th e Fund has no interest-baa ring f nan cia I Ii a bil'lli es.750 More .than one year .717 3.531. (i I) Interest rale ~jsk The Fund co nsta ntly man itors its i nterest rate ri sk and does not uti lise forwa rd contracts or other instruments outstanding.~Qni I Soeial F!lll~ (UEN: T01CCWl2G IIPC .400 2. the Fund is not exposed to any foreign currency risk.400 2.442. of the Fund's financial instruments. sensitivity ana Iysisis not necessary (b) Uquidlty . As su ch. by maturity. se nsitivity ana Iysi s is not necessa ry. S:i"i~.003. The Fun d does not use derivative fi nanc ial in stru m ents to hedge its interest ris k.risk The Fund monitors ils liquidity risk and maintains a level of cash and cash equivalents deemed adequate by Finance Council to finance tile Fund's operations and to mitigate the effects of fluctuations in cash flows.oted bo nd s 1.151.fixed rates Q D. . II'COC0549) . Finane iaI assets I Continue d) (s) Market 'fisk (j) Fa reign excha n ge risk As the Fund's transactions are denominated in Singapore Dollar.434 $ 499.As at 31 Ma rc h 2010. there were no interest rate swa p contracts or other derivative ana n geme flls for The following table sets out the carrying Annual Re port 20 I 0 I Th I' Salvltl<l n Anny. Typica:lly the Fund ensures that it has suffic ientca 5 h 0 n dem and to meet expected 0 peratia nal expenses.072. The ct her fin anc ia.! in stru ments of the Fund that arIOnat in cl uded in the above ta bIe ana not subject to interest rate ri sks.NO. 481 Salvation A. As su eh. The Fund's income and expenditure account and reserve are not significanl~ affected by changes in interest rates as Ihe interest-bea ri ng f nancl aI instru me nts ta rry fixed inte rest rates an dare measu red at am arti sed cost.ed to Interest rale risk: 2010 2009 $ Within one year . that are expo!.250 Interests an fin anc ia I j nstru me mts are fixed unti I til e maturity of the i"stru me nts. Ira di ng 0 r specu Iative pu rpeses.(Continu e til Notes to the Financial Statements FINANCiAl RISKS AND MANAGEMENT (Continued) 18.

Report~OlO I The Si!IVO!tianA. (b) FINANCIAL RISKS AND MANAG. Sinfi!pG'= I S.071 (e) CredIt risk The carrying amounts of cash and cash equivalents.156 been drawn up based on the undiscounted cash flows 01 financial liabilities based on the earliest date on whTch the Fund ca n be leq u ired to pay.9"5 Ae<:Qunts payables Deposits Others 2009 375. Therefore. TOICC3012G IIPC NO. No olh er fi nan ci a I assets ea rry a si gn ifieant exposu ra to ered it risk.les represent the Fund's maxi mum expo s ure to credit Iisk in retati on 10 fi na neia I assets. The credit period on account receivables are generally on 7 . IPCOD0549) 49 . SiMatiun A"'I1 An"ual.420 113. credit risk arises mainly from the inabiliiy of its customers to make payment of account receivables when due. On demand or 2010 within I yea r $ Ae<:Qunts payables Deposits others 521.EMENT(Continued) Liqu idity risk (Contin uad) The following tables detail the remaining contractual maturity for non-derivative financial liabilities.&13 882.~i.719 6.1 Fund (UEN.rn~. funds with fund managers and receivab. The tables ha. Th e Fund pi aces its man aged invesl ment portfoH 0 and ba nk bala nees aml fixed de posits wit h reputa b Ie esta bI ished fi n a ncia I institutions. The Fund has no significant concentration of credit risk with any single customer.Notes to the Financial Statements (Continued) 18.60 days (2009: 7" 30 days) term. Cuslomerson credit terms are regularly monitored andlherefore. Th e carl}li ng amo untoffi nan ci a I assets reco rded in the fina nc ia I stateme nls rep resents the Fund '5 maxi mum exposu re to cred it risk.196 555. the Finance Council does no1 expect the Fund to incur significant credit losses.882 182.

387 21. II'COCD549J . $167.Past due 61 .618 (326.196 167. for which the Organisation has not provided fo rim pa irme nt loss as there has not beenasi gn ificant eh a nge inc red it qua Iit)' and thea mou nt are consi d ered recovera ble.Past due over 90 days 89. avallahle-fer-sale. Price sensitivIty analysis The sensitivity analysis below ha.~Qni I Soeial F!lll~ (liEN: T01CCWl2G IIPC . Available-far-sale investments lire held for strategic rather than Iradi ng purposes. The Fund is exposed to market plice risk arising from its investment in Qlloted bonds and quoted eq. available-forsale that wOIII'd affect the fair vallie reserve of the Fund.380 56.228 335.618) $ 191.NO. The folJowing table demonstrates the sensilMty to 5% of increase or decrease in the market prices on tile financial assets.067 22. which are past due at the balance sheet date.122 129.488 $ $ No! past due and nat impaired Past due but not impaired .861 ( Annual Report 20 I 0 I Th I' $alvltI<l n Anny. These financial instruments are managed by 1 he Fin a nee COlinci I for q uoted bon ds IInd II gro u p of fu nd rna na ge r$ for q !loted eq IIity i"slru ments.591) . FINANCiAl RISKS AND MANAGEMENT(Continued) Finane iaI assets I Continue d) (c) Credit risk (Conti nued) The age analysi s of tra de rece iva bl es is as follows: 2010 2009 168.90 days .380). Fa if va III e reserve 2010 Market prices 200!! $ 326. (d) Market price ri s k Market price risk is the risk that the fair value of the Fund's financial instruments will fluctuate because of changes in market prices (other Ihan interest or exchange rates).uity instruments and alternative investments.861 148. Both IIre Classified as financial assets.844 950 34.062 16.868 The carrying amount ot $56.Notes to the Financial Statements (Continu ed) been determined based on the exposure to price risks at the reporting date.591 (191. S:i"i~.Decrease 5% ( 2009 : 5% ) 501 Salvation A.Past due 31-60 days .lncrease 5% ( 2009 : 5% ) .

cash and cash equivalents. IPCOD0549) 51 . as pri ces) 0 rind ireclly (i.queted equity shares (Levell) (LevelZ) $ $ (Level 3) $ 4.Qu oted pri cas (u nad] usled) in a ctive rnarkets fo r . (ij) Fair value of financia I'i nstrum 0 nts by classes th'at are not carried at fair va lue and wh ose ea Trying am 0u nts are reasonable appro. de rived from prices). Ava i Ia bl e.~i.e.534. there ara no fi nan 01a I I nstru moots in th I s category.1 Fund (UEN: TOICC3012G IIPC NO. The fair value hierarchy have the following levels: Level-l . Sinfi!pG'= I S. Report~OlO I The Si!I\'O!tianA.rn~. (III) Fair value of nnanclallnstrumenb by classes that are not carried at fair value and whose carrying amounts are not reasonable a p prexfmatlon of fa Ir value At ba Ianee sheet date.ldentical assets or lia b iIit ies Level-2 -Inputs other than quoted prices included within Levell that are observable for the asset or IIabililty..D91 A131 March 20lD 6.544.Inputs for the asset Dr liability that ara not based' on observable market data (unobservable Inputs) Deterrn ination of fai r va Iue Qu oted eq ulty Instrum ent a ntl bon ds (Nole 4): fBi r va Iue is determ I n ed d Ireclly by refe renee to fhe ir pu b IIsh ed m arke! bi d price at Ihe ba Ia nee sheet date.800 2.020.for -sa Ie fin a ncia lassets (Nate 4. II.EMENT (Continued) Fair value of financiallnslrumenb Fair value of finantialinslrumenb that are tarried at fair value The following table shows an analysis of financial instruments carried at fair value by level of fair value hierarchy: 2010 Quoted pri ces in Signilica nt other active markets obsllrvable inputs for idenlical Inslru me nts Significant unobservable inputs Total $ Finantia I assets.534.lm ation of fal r value The carrying amoun'isof trade and other receivables.) .8DD 2.891 fair value hierarchy The Fund classify fair value measurement using a fair value hierarchy that reflects the significance of the inputs used In maklng Ihe measurements. SiMatiun A"'I1 Annual. either directly (i.D2D. trade and other payables are reasonable approximation of tairvaluas due to their short-term nature.891 0.Notes to the Financial Statements (Continued) 18. (e) (i) FINANCIAL RISKS AND MANAG.091 4. and Level-3 .544.qu oted bonds ..

i I has reviewed the main income and expenditure streams and the financial risks associated with them. • The investee announcing a change in business model. that have a significant risk Ofc3U'sing a material adjustment to the carrying amounts of assets and lia. (a) Critical [udgsments in applying the Fund's accounting policies The Fina nee Council is of the opinion that any instances of application of judgements are not expected to have a Significant effect on the amou nts recognised in the "financial statements except as follows: (i) Impairment of investments Finance Council has concluded that the fall in values of certain of its investments is a 'significant or prolonged declinei n lair val ue of those instruments below its costs' as the Finance Council believes that the fall was brought a bout by tile ccntin uous decline in global debt and equity markets. IP C00054S) . the Finance Counci I is required to make judgements. The Fund relies on donations which by their nature are unpredictable.hilities within the next flna nelal yea L 52. Unrestricted tu nd excludes designated funds. disconti nued operations. and • lncrease in investeas' cost of capital. $22. The level of designated funds is reviewed on an annual basis. l!1. The Finance Counc.NTY Note 2. experiEnce and other factors. including expetlations of future Actual results may diller from these esti mates. The Finance Council willa im to increase unrestricted fund to the targeted level through careful budgetary control.529) relating to the Fund has been recognised during tbe year. a no other ~ey sources of estimation uncertainty at the balance sheet date. and liabilities that are not readily apparent from other sources. or in the period of the revision and future periods.1(2009. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTI. amongst others: • Cost Of. if the revision affects both current and future periods. The estimates and underlying assumptions are reviewed on an ongoing basis.Notes to the Financial Statements (Continued) 18. The Fund needs reserves 10 ensure that the operation 01 its social progra mmes ca n continue in the event of fluctuations in voluntary income and unexpected expenditure. fi nance Council's management considered the following factors. Sing' p. in making its judgement. which are described in estimates and assumptions about the carrying amounts of assets The estimates and associated assumptions are based on historical events that are believed to be reascna ble under the cireumstances. Solvatl go Army. FINANCIAL RISKS AND MANAGEMENT (Continued) Reserve The Fund's reserves policy lecusss on the level of unrestricted fund. In applying the Fund's accounting policies.MATION UNCERTA.lpe HD. The Finance Council considers that the Fund requires an unrestricted balance of a pproxim~lely $12 million to ensure continuing operations. restructuring.r~ I Soci01 fund (UEN" T07C C3 01 :1G {. • The length of time fa ir value has remained lower than cos!: • The market capitalization of the invsstee being lower than tile book value of net assets. Revisions to accounting-estimates are recognised in the period in which theeslimate is revised if the revision affects only that period. Consequently impa irrnenllosses of $Ni. (0) Key sources of esti mation uncertairrly Tile Finance Council's management is ·ofthe opinion that there are no key assumptions concerning the future.I. lion ~rmy ~n"ual Report 2010 11!0. The level of unrestrleted fund will be reviewed on an annual basis laking into account the risks faced by Ihe Fund a nd changes in the major income and expenditure strea ms. The designated funds are mainly fu nds set aside by the Finance Council to meet known future com rnitmants such as replacement of motor vehicles. I Sa lv.3 specific investment relative 10 'its current fair val ue. etc.


dependable and cost-effective source of funds for The SalVation Army's social centres and programmes. Fill Dill your personal and bank partieulars using the monthly donation applleatlon form on the left and mall the completed form back to us. Decide on the amount you wish to contribute each month. • Simplerel:eive a single summary of all your gifts in a year. . strong. then select your deduction by lmer-bank giro or by credit card. 2. • Affordable- it is easier to find $10 a month than it is to find $120 a year. l.Join our Red Shield Club! The Red Shield Club is a recurring-donation programme providing a steady. • Llf e-cha n. • Flexiblealter or cease your pledge at any time. How it works: 1. • Cost-efficientreduce the ArmV's gift processlng and malling costs. Your desired monthly donation will be automatically deducted on the 4"' of eve ry month. Benefits of regular giving: • Convenlentavoid tMe hassle of writing a cheque or worrying about enclosing cash in envelopes .li nr regular income enables us to plan and develop our services and programmes more effectively to help people.

The appl icati on is hereby REJECTE for the fall owi ng reason( s) 0 Slgnatu relTh umbp Mof' differs from the H na nela II nstitu lion's records Signatu relTh umbp ri nt! i nco mpletelu nclea rII Accn unt operated by si gn atu reJt. Date Part 2: For The Salvation Army's completion Signature(s) or thumbprint as in bank record Part 3: For Financiallnstitulion's completion To: The Salvation Army. c) This authcnsabon will remain in lome unlillerminated by your written notice sent to my/our address last knawn to you or upon receipt of my/aur written revocation through The Salvation Army.rbank Giro Dr IMr/Msl Mdm I Mrs _ Personal Particulars IC No. Donation by CreditlC harge Card Auth uri sed Sign at ure Date Iwould like to 'Make a monthly contribution of/Increase my monthly contribution to $ MasterCard Visa Diners Amex _ _ Name as on card Card No. IIIIIIIIIIII I would: like to 'Make a new contribution offJpcreasemy contribution 10 $ _ a) lNIe hereby instruct you to process The Sa Ivaticn Army's instructions 10 de b it mylou r aoeeu nt. 'Please de·lete wIlere inappli~able . please go \ll the braneh with YllUride ntiFrcation. an tile account and impose charges accordingly.JFIN Address Tel _________ tv meluda Mobile E~mail _ Please state Yllur NRIC number til e~able IRAS a 1110tax delluction in )'Ilur Notice of TaJ Assessmerrt. oj You are enl:itled to reject The SaIvalion Army's d eM in stru clio ns if my/au r acce unl does not have sufficie nt fu nd san dch arge melu s a fee for this.AIC No. Card Expiry W I W (month/year) I I I I I-I I I I I ~ I I I I I-I I I I I Date Signature(s) or thumbprint as in bank record All GIRO and Cr€diVCnarge Card Payment will b~made on the 4th day of evefJ' mbpMnt' Wro ng aceou nt n umber Amen dm ents not COli ntersi gned by cu stomer others: Name of Approving Officer rw th umbpri nts. You may also at )'Qurdiscretion allow tile debit even ifthis results in an overdraft. Part h For donor's completion To: The Manager.Name • YourC ontributionC ounts Donati on by Inte. Bank My.

Yes. I w aof a tax -ded ucti bIe receipt..meas on card Signature I I I 1.I I I I I-I IIII _ Expiry Date A tax-deductible Y2S. receipt will only be issued for a donation of $50 and above. unless indicated here. I will help by giving $500 Personal Particulars You Can Help Change Lives $200 $100 $_- • _ _ Dr I Mr I Ms I Mdm I Mrs Name Tel No. Email Address ________________ Personal donation Ie No! FIN Corp orate donallo n Company Name Postal Code UEN Oonalion Deta ils I enclose my cheque rnade payable to The Salvatio n Army Cheque No Bank _ Pleasec ha rge my donatio n to: Visa MasterCard Amex !liners I I I I I-I Na. Thank you for you r don atl on. Please mail your donation with this slip to: The SaIvation Arm y Ang Mo Kio Central PO Box 640 Singapore 915605 .