| Behind SRC’s healthy surplus
is the meticulous team from the Finance Department.
Despite Singapore’s ailing economy, the Finance
Sub-Committee, together with the department, still
managed to achieve a healthy pre-depreciation and
tax surplus over $300,000 in FY 2003. Their performance
is commendable, given the falling interest rates
and asset depreciation.
On top of the finance team’s daily task
of overseeing costs and balancing accounts, the
department is also constantly on the look out
for cost-reduction measures and revenue-generating
ideas, thus making their jobs challenging and
perilous at the same time. However through frequent
meetings with the Finance Sub-Committee, the finance
team was able to map out a strategy to meet targets
set out each year.
Income generated for the Club comes from many
sources, which include food and beverage sales,
rental of the Padang, SRC Swim School, administration
fees from membership transfers and car park charges.
Therefore, the finance department works hand in
hand with other departments in the Club and aims
to make SRC the preferred choice for members. |
