Central Provident Fund Board
Income & Expenditure Account
for the year ended 31 December 1979
INCOME
Interest from:-
Investments
1979
1978 $
Funds with bankers
410,442,725 428,327
331,770,381
431,545
Contributions paid late
3,576,528
3,101,447
414,447,580
335,303,373
Profit from investments
707,765
3,380,356
Rental & service charges from tenants
4,250,419
3,391,456
Car park receipts
353,498
267,053
Agency & data processing fees
764,705
637,050
Miscellaneous revenue
38,978
43,198
TOTAL INCOME
420,562,945
343,022,486
Less:
EXPENDITURE
Salaries, CPF contributions & staff benefits
4,526,159
3,978,491
Transport expenses
Stamp duty
Printing, stationery & office supplies
Postage, telegrams & telephones
Postal Services Department charges
75,690
62,376
68,978
63,618
425,244
392,027
370,117
353,583
40,212
53,847
Machine maintenance
Computer software expenses
Insurance
Miscellaneous expenses
Allowance for Board members
Audit fee
Property tax
Building maintenance
Office security
166,035
162,057
19,891
23,985
52,522
51,760
76,329
56,860
10,413
8,700
36,425
36,425
1,180,232
1,090,439
354,619
324,990
27,680
27,421
Car park expenses
89,620
82,295
Public utilities
783,244
722,612
Depreciation of fixed assets
2,239,688
1,992,443
TOTAL EXPENDITURE
10,543,098
9,483,929
NET INCOME
410,019,847
333,538,557
Less: Interest credited to members' accounts
410,507,528
333,483,661
(487,681)
54,896
Exceptional items:-
Interest on apportioned cost of CPF building
payable by Currency Board
3,948,679
Reduction in assessment of property tax for 1977
467,273
SURPLUS/(DEFICIT) FOR THE YEAR
(487,681)
4,470,848
The accompanying notes form an integral part of these Accounts.
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