Gardens By the Bay 2019/2020

FINANCIAL STATEMENTS 102 STATEMENT OF COMPREHENSIVE INCOME For the financial year ended 31 March 2020 Note 2020 2019 $ $ Revenue 17 105,959,254 103,309,845 Expenses: Staff and related expenses 18 37,424,116 35,461,439 Horticultural works 13,205,979 13,692,071 Facilities maintenance 17,037,824 17,039,131 Utilities 4,512,731 3,987,308 Marketing and communications 6,407,693 6,581,337 Community programmes 9,782,205 5,053,150 Information technology maintenance 1,537,801 1,408,357 Depreciation expense of property, plant and equipment 10 9,045,058 6,421,466 Depreciation expense of right-of-use assets 11 4,261,156 - Rental of premises 19 - 4,257,060 Revamping and rejuvenation expenses 10,200,601 10,025,126 Maintenance of State land 19 1,041,310 1,030,722 Interest expense on lease liabilities 11 137,124 - Other expenses 6,549,627 6,992,499 121,143,225 111,949,666 Deficit before government grants (15,183,971) (8,639,821) Government grants: Operating grants 19 30,254,649 30,588,970 Rental subvention 19 4,068,700 4,257,060 Revamping and rejuvenation 19 3,420,981 10,025,126 Maintenance of State land 19 1,041,310 1,030,722 38,785,640 45,901,878 Deferred capital grants amortised 16 1,364,742 1,674,534 40,150,382 47,576,412 Surplus for the financial year, representing total comprehensive income for the year 24,966,411 38,936,591 See accompanying notes to financial statements.