2002/03 Annual report - Agri-Food & Veterinary Authority of Singapore

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Operating Income Operating income comprised mainly certificates and permits from regulatory functions and rental income from fishing port properties and facilities. The operating income has seen an increase in the certificate and permit fees due to higher import for meat and meat products, fruits, vegetables and seafood products; as well as increased laboratory fees due to increased issuance of health certificates for export purposes. The transfer of the Food Control Department from the Ministry of Environment has also resulted in an increase in the certificate and permit fees for processed food and licence fees for licences issued to food factories. The rental income had remained fairly constant. Other income has declined as last year's other income included revenue from the auction of snakes skin that was confiscated at the custom. Page 80 FY 02/03 FY 2002/2003 FY 2001/2002 Increase/(Decrease) S$’000 S$’000 S$’000 % Certificate and permit fees 13,232 12,525 707 5.6% Berthing & conservancy fees 1,146 1,249 (103) (8.2%) Laboratory fees 1,277 1,041 236 22.7% Licence fees 2,332 2,207 125 5.7% Inspection fees 854 779 75 9.6% Rental 5,587 5,624 (37) (0.6%) Vehicle entry fees 1,114 1,214 (100) (8.2%) Other income 566 671 (105) (15.6%) FY 01/02 Rental 21% Inspection fees 3% Licence fees 9% Laboratory fees 5% Rental 22% Inspection fees 3% Vehicle entry fees 4% 2% Other income Vehicle entry fees 5% Licence fees 9% Laboratory fees 4% 4% Berthing & conservancy fees 3% Other income 26,108 25,310 798 3.1% 5% Berthing & conservancy fees 52% Certificate and permit fees 49% Certificate and permit fees Operating Expenditure The operating expenditure comprised mainly staff cost, rental, repair & maintenance and depreciation cost. The staff cost has increased by 10.8% mainly due to the transfer of the Food Control Department from Ministry of Environment to AVA with effect from 1 July 2002. Similarly, professional fees has recorded a substantial increase by 117.7% as it included laboratory testing expenses for testing food samples collected on processed food. The provision for property tax payable on alienated properties in the current year has also resulted in the increase in repairs and maintenance cost by 11.2%. Depreciation expenses has increased due to the capitalisation of development work in progress for Marine Aquaculture Centre project at St John’s island, with effect from 1 April 2002. Reduction in the other operating expenses was mainly due to a once-off GST claim written off in last financial year. This claim was related to the six properties that were alienated to AVA in its first financial year. FY 02/03 Depreciation of property, plant & equipment 11% Office, computer & laboratory supplies 5% FY 2002/2003 FY 2001/2002 Increase/(Decrease) S$’000 S$’000 S$’000 % Staff cost 46,241 41,718 4,523 10.8% Office, computer & laboratory supplies 3,692 3,884 (192) (5.0%) Rental 6,925 7,064 (139) (2.0%) Repair & maintenance 7,259 6,526 733 11.2% Professional fees 2,471 1,135 1,336 117.7% Depreciation of property, plant & equipment 8,464 7,575 889 11.7% Other operating expenses 3,497 4,157 (660) (15.9%) FY 01/02 Professional fees 3% Repair & maintenance 9% Rental 9% Depreciation of property, plant & equipment 11% Professional fees 2% Repair & maintenance 9% Rental 10% Office, computer & laboratory supplies 5% 4% Other operating expenses 6% Other operating expenses 59% Staff cost 78,549 72,059 6,490 9.0% 57% Staff cost Page 81
Capital Expenditure Capital expenditure for the year was $26.5 million, representing an increase of $18.3 million (223.9%) over last financial year. Of the $26.5 million, $19.2 million was for the construction of the Veterinary Public Health Centre and $3.5 million for the Animal and Plant Health Centre at Lim Chu Kang. Page 82 FY 02/03 FY 2002/2003 FY 2001/2002 Increase/(Decrease) S$’000 S$’000 S$’000 % Change Equipment 377 1,669 (1,292) (77.4%) Development work-in-progress 26,107 6,508 19,599 301.2% FY 01/02 1% Equipment 99% Development work-in-progress 26,484 8,177 18,307 223.9% 20% Equipment 80% Development work-in-progress Auditors’ Report To the Agri-Food and Veterinary Authority We have audited the financial statements of the Agri-Food and Veterinary Authority for the financial year ended 31 March 2003 set out on pages 84 to 95. These financial statements are the responsibility of the Authority’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Singapore Standards on Auditing. Those Standards require that we plan and perform our audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the Authority’s management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, (a) the accompanying financial statements are properly drawn up in accordance with the provisions of the Agri-Food and Veterinary Authority Act 2000 ("Act") and Singapore Statements of Accounting Standard and so as to give a true and fair view of the state of affairs of the Authority at 31 March 2003, and its results, changes in fund and grant accounts and cash flows for the financial year ended on that date; and (b) the accounting and other records required by the Act to be kept by the Authority have been properly kept in accordance with the provisions of the Act, including records of all assets of the Authority whether purchased, donated or otherwise. During the course of our audit, nothing came to our notice that caused us to believe that the receipt, expenditure and investment of monies, and the acquisition and disposal of assets by the Authority during the financial year have not been made in accordance with the provisions of the Act. PricewaterhouseCoopers Certified Public Accountants Singapore, 28 July 2003 Page 83
Page 1 and 2: The Look of Life\ Agri-Food & Veter
Page 3 and 4: The contrast of textures
Page 5 and 6: Board of Directors Mr Koh Poh Tiong
Page 7 and 8: The spontaneity of expression
Page 9 and 10: AVA placed several advertorials in
Page 11 and 12: Enhancing the Safety of Our Food No
Page 13 and 14: A total of 177,427 import permits w
Page 15 and 16: These surveillance programmes enabl
Page 17 and 18: Singapore Food Manufacturers’ Ass
Page 19 and 20: To ensure that the introduction and
Page 21 and 22: Animal Control Measures Stray anima
Page 23 and 24: The inevitable result of urbanisati
Page 25 and 26: Forging Global Ties and Facilitatin
Page 27 and 28: As the national authority for agric
Page 29 and 30: Synergising Staff and Resources An
Page 31 and 32: which was attended by 22 badminton
Page 33 and 34: AVA Service Centres AVA Service Cen
Page 35 and 36: Food Supply and Technology Agri-Tra
Page 37 and 38: Consumption, Import and Local Farm
Page 39 and 40: Three-Year Financial Summary FY 02/
Page 41: Financial Position As at 31 March 2
Page 45 and 46: Statement of Changes in Fund and Gr
Page 47 and 48: Notes to the Financial Statements F
Page 49 and 50: Notes to the Financial Statements F

2002/03 Annual report - Agri-Food & Veterinary Authority of Singapore

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