- FINANCIAL STATEMENTS
- Financial Statement Highlights
- Statement by Directors
- Auditor's Report
- Consolidated Statement of Comprehensive Income
- Consolidated Balance Sheet
- Consolidated Statement of Changes in Equity
- Consolidated Cash Flow Statement
- Statement of Backing of Currency in Circulation
- Notes to the Consolidated Financial Statements
FINANCIAL STATEMENT HIGHLIGHTS
During the financial year ended 31 March 2015, the Authority's total assets, including the Currency Fund, increased by 1.8% to $387.39 billion mainly due to higher foreign financial assets and receivables. Total liabilities increased in tandem, by 1.9% to $346.73 billion, as the currency-in-circulation grew and MAS bill issuance increased, partially offset by lower money market borrowings and deposits of financial institutions.
The Currency Fund's net external assets grew by 7.1% to $46.18 billion, backing the currency-incirculation by 125%, compared to 127% a year ago.
Including currency translation effects, the Authority recorded a net profit of $0.28 billion in Singapore dollar terms. The negative translation effect arose as the Singapore dollar strengthened against the Euro and Yen by 17.6% and 6.7% respectively, which more than offset translation gains as the Singapore dollar weakened by 8.3% against the US dollar.
The Authority's total expenditure rose by 31.2% to $1.20 billion, stemming from the higher investment and interest expenses.
Based on the framework for Contributions to Consolidated Fund, no contribution to the Consolidated Fund is required for this financial year as there are carried forward losses from previous financial years to offset against the net profit for the year. The net profit for the year will not be returned to the Singapore Government but will be added to the Authority's reserves, in accordance with the Monetary Authority of Singapore Act.