8.
Other assets
2015
$
2014
$
Advances for financial assistance
–
52,961
Finance assistance and donation in kind vouchers
49,838
21,174
Prepayment
43,198
26,195
93,036
100,330
9.
Cash and cash equivalents
2015
$
2014
$
Not restricted in use
26,358,735
24,862,996
Interest earnings balances
22,605,031
22,687,441
The rates of interests for the cash on interest earning balanceswere between 0.25% to 1.68% (2014: 0.25% to
1.10%) per annum andmaturewithin 12months (2014: 12months).
10.
Reserve policy
% Increase/
(Decrease)
2015
$
2014
$
Unrestricted fund (“Reserve”)
25,977,639
25,053,511
3.7
Ratio of Reserve toAnnual OperatingExpenditure
3.32:1
3.34:1
The Foundation shall maintain a reserve that is equivalent to at least 3 years of its operating expenses. This is
to ensure continuity in providing the necessary services to its beneficiaries.
With the unanimous approval of the Management Committee, the Foundation is able to draw down from its
reserve tomeet its operating expenses to ensure ongoing services are not disrupted.
Ona yearlybasis, theManagement Committee reviews theamount of reserve that is required toensure that the
reserve is adequate to fulfil the continuing obligations of the Foundation.
11.
Other payables
2015
$
2014
$
Outside parties and accrued liabilities
719,301
748,509
Deferred grant (a)
485,841
–
1,205,142
748,509
(a) The deferred grant relates to the Care and ShareMatching Grant from theMinistry of Social and Family
Development (“MSF”) to fund programmes or activities of the Foundation. The Foundation shall utilise the
grant within three years from the end of 31 March 2016. A total of $1,123,223 has been disbursed since
2014.
45
