Who We Are
Financials

Financial Management and Internal Controls

The Lodge maintains a system of internal controls that is reviewed annually. Written policies and control procedures are in place for revenue and receipts, procurement and payments, financial management, payroll, fixed assets and inventories.

These written policies and control procedures are reviewed and updated by the Treasurer, CEO and Finance & Compliance department on a periodic basis. These updates or changes to the policies and control procedures are then subject to the further review by the Audit-sub committee and approved by the Board. Periodically, the Head of Finance & Compliance is responsible for carrying out test checks of the controls in operation to ensure proper compliance.

The Lodge maintains a system of approvals for purchases whereby different requirements for approval, review and waiver are in place depending on the payment amount. This includes, but is not limited to, the need to source for multiple quotations (minimum 3) for non-recurring purchases above $2,000 per single item and obtain approval by CEO; as well as the need to prepare an ‘Invitation to Tender’, a ‘List of Vendors’, and obtain MC’s approval for purchases above $100,000.

Income & Expenditure

AHL is funded by the Government and from public donations. AHL also collects nominal fees from the relatives of the residents. Such fees are based on the family’s financial background and their ability to pay. Ninety per cent of the residents are subsidized by the Government.

Details of Income & Expenditure available on the same website.

Incoming Receipts

2018-Restated
(S$)

2019
(S$)

2020
(S$)

2021
(S$)

2022
(S$)

% Changes
2022 vs 2021

Donations
-Tax Deductible
-Non-Tax Deductible

892,305
278,168

80,109
79,740

125,628
254,195

353,040
442,648

295,489
53,790

(16.3)
(87.8)

Government Grants

6,702,078

7,963,019

11,465,306

9,299,178

9,311,714

0.1

Residents fees

1,559,098

1,641,894

1,669,161

1,561,090

1,519,346

(2.7)

Investment income

143,986

123,702

137,848

57,793

82,754

43.2

Others

58,008

79,922

75,527

60,766

57,500

(5.4)

Total Receipts

9,633,643 

9,986,386 

13,727,665 

11,774,515 

11,320,593

(3.9)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

2018-Restated
(S$)

2019
(S$)

2020
(S$)

2021
(S$)

2022
(S$)

% Changes
2022 vs 2021

Direct Charitable Expenses
- Local
- Overseas

7,593,275

8,830,170

9,302,294

9,332,882

10,812,261

15.9

Operating /
Administration Expenses

400,425

530,348

545,822

669,109

641,119

(4.2)

Fundraising

10,275

750

N/A

N/A

N/A

N/A

Total Expenditure

8,003,975

9,361,268

9,848,116

10,001,991

11,453,380

14.5

Excess (Deficit)

1,629,668

607,118

3,879,549

1,772,524

(132,787)

(107.5)

 

Balance Sheet

2018
(S$)

*2019-Restated
(S$)

2020 
(S$)

2021 
(S$)

2022 
(S$)

% Changes
2022 vs 2021

 ASSETS

Land & Building

7,872,207

9,773,566

9,741,901

8,182,932

6,623,964

(19.1)

Tangible Assets

356,234

566,979

781,619

574,865

422,622

(26.5)

Inventories

19,778

25,886

83,947

115,950

86,758

(25.2)

Accounts Receivable

2,603,534

1,873,606

1,924,610

2,690,473

712,137

(73.5)

Cash & Deposits

12,525,768

10,956,788

16,168,717

17,184,131

19,783,354

15.1

Total Assets

23,377,521

23,196,825

28,700,794

28,748,351

20,582,249

(28.4)

 FUNDS

General Fund

6,191,099

6,170,956*

7,622,458

8,719,184

6,946,147

(20.3)

Building Fund

7,957,770

9,012,017

10,070,056

11,128,094

13,000,000

16.8

Community Silver Fund

1,746,827

1,325,540*

882,480

1,217,894

1,524,789

25.2

Maintenance Fund

284,438

0

0

0

0

N/A

Medifund Fund

42,607

729,056

1,546,922

647,470

468,267

(27.7)

Programme Fund

1,168,558

702,942

479,305

100,000

115,000

15.0

President’s Challenge 2019 Fund

0

0

165,000

165,000

0

(100.0)

Silver is Gold Fund

0

0

33,333

25,000

0

(100.0)

Asset Capitalisation Reserve

201,897

946,115

2,784,427

2,454,351

2,090,740

(14.8)

Total Fund

17,593,196

18,886,626

23,583,981

24,456,993

24,144,943

(1.3)

 LIABILITIES

Long-Term Liabilities

2,728,194

2,425,062

2,902,146

2,085,511

1,515,666

(27.3)

Current Liabilities

3,056,131

1,885,137

2,214,667

2,205,807

2,127,906

(3.5)

Total Liabilities

5,784,325

4,310,199

5,116,813

4,291,358

3,643,572

(15.1)

Total Liabilities & Funds

23,377,521

23,196,825

28,700,794

28,748,351

27,788,515

(3.3)

 

 

Other Information

2018

2019

2020

2021

2022

% Changes
2022 vs 2021

Donations/ Grants & Sponsorship given to other Charities (S$)

0

0

0

0

0

N/A

No. of Employees

128

137

141

139

135

(2.9)

Total Employee Costs (S$)

4,112,694

4,486,703

5,026,449

5,211,714

6,179,589

18.6

Total Related Party Transactions (S$)

7,900

1,200

3,400

4,550

32,949

624.2

Fund-raising efficiency

3.3

N/A

N/A

N/A

N/A

N/A

Ratio of reserves

1.8

1.7

1.8

2.0

1.7

(15.0)

Annual Salary Range of 3 highest paid staff (S$)

200,001 to 300,000

100,001 to 200,000

 

1

2

 

 1

 2

 

1

3

 

1

3

 

1

2

 

N/A

N/A

Legend: 

Fund-raising Efficiency reflects the ratio of the total fund-raising expenses against the total gross receipts from fund-raising.
Ratio of Reserves is based on Unrestricted Funds, comprising General Reserves and Building Fund, over Direct Charitable Activities and Operating/Administration Expenses.

 

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