(Established 1949) Annual Report 2015 · Approved by Registrar of Societies: Letter ROS 0110/49...

Singapore Indian Fine Arts Society(Established 1949)

Annual Report 2015

SINGAPORE INDIAN FINE ARTS SOCIETY

(Est. 1949)

C O N T E N T S

PARTINOTICE 03

MINUTES OF THE 65th ANNUAL GENERAL MEETING 04

66th REPORT OF THE MANAGEMENT COMMITTEE 07

ANNEX 1 ATTENDANCE LIST OF MANAGEMENT COMMITTEE MEETINGS 20

ANNEX 2 ATTENDANCE LIST AGM 2014 21

ANNEX 3 LIST OF SUB-COMMITTEES 22

ANNEX 4 PROGRAMMES PRESENTED AT SIFAS FESTIVAL OF MUSIC ANDDANCE - CHENNAI 2014 24

ANNEX 5 PROGRAMMES PRESENTED AT SIFAS FESTIVAL OF MUSIC ANDD ANCE-2 0 1 5 25

ANNEX 6 EXAMINATION RESULTS 2015 27

PART II

AUDITED STATEMENT OF ACCOUNTS

CONTENTS PAGE 30

PART IIINOTES 68 - 70

NOMINATION FORM FOR THE TERM 2015 - 2017 71 - 72

^ a- tto. ICjjl/Ulo) ,_ V t io tm ,— ^ \ j (d S-vvt vy -^ ^ __ . \?Wlvu>

0 1C ~ \4 v\ ~ (^C A'r***'r* A tL o tv ^ l ' H iv v / W m o

a c m & ~ *V ^ v j ^ o i ^ V ^ ^ ^ 1S T

P - n _ w j u - t w ^ a * ^ ^ v - * vr j h H X o \ U

V - I t - ^ w H i > ^ w

p i f - W . W R o ~ » * 04 I ? S ^ ^

l W * * f d H * ° £ 1 C c v \ « ' '

p l H - ^ k c . v v U ? vlq n

O ^ ttJ L ^ C c w * r ^

ZixamA' \ l ^ c „ %LcJl \>m& C©-rw.cUmo VH T - W l fU »v ^ ***- ^ ^

feWU -CXa U "

SINGAPORE INDIAN FINE ARTS SOCIETY (Est. 1949)

2A, Starlight Road, Singapore 217755 Tel: 62995929 Fax: 62951238

Email: [email protected] Website: www.sifas.org

Singapore Indian Fine Arts Society was set up in 1949 as a society. It was registered under the Charities Act

in 2006.

UEN Number: S62SS0048J

Registered Address: 2A Starlight Road, Singapore - 217755

Approved by Registrar of Societies: Letter ROS 0110/49 dated 19.12.2005

Approved by Commissioner of Charities: Letter Ref 8 / K / 48 / 12041 —C l KSKT, dated 23.02.2006

Charity Registration Number: 1935

Effective Date of Charity Registration: 23.02.2006

GST Registration number: M90358381E

Effective Date of GST Registration: 01.09.2007

Bankers:

1. DBS Bank Ltd

2. State Bank of India

3. UCO Bank

4. Indian Overseas Bank

Auditors - MGI Menon & Associates.

The objects of the Society are:

1) to promote and strengthen the classical traditions, aesthetics and values in Indian Fine Arts in

Singapore;2) to promote appreciation by Singaporeans of the artistic achievements of Indian culture through high

quality performances and displays of Indian Fine Arts and3) to develop the Society as a centre of excellence in the teaching and the performance of Indian Fine

Arts in Singapore.

SINGAPORE INDIAN FINE ARTS SOCIETY(Est. 1949)



NOTICE is hereby given that the 66th Annual General Meeting of the Society will be held on Sunday 29th Nov. 2015 at 10.00 am. at 2A Starlight Road Singapore 217755 to transact the following business:-

1. To confirm the Minutes of the 65th Annual General Meeting held on 9th November 2014.

2. To consider and if approved, receive:a) The Report of the Management Committee for the period 1st August 2014 to 31st July 2015.b) The Audited Accounts for the year ended 30th June 2015.

3. To consider (a) resolutions or (b) questions of which notice in writing have been received by the Hon.Gen.Secretary at least 7 clear days before the date of meeting.

4. To elect a Management Committee for a term of two years as follows:

a) Presidentb) 6 Vice Presidentsc) Honorary General Secretaryd) Honorary Assistant General Secretarye) Honorary Treasurerf) Honorary Assistant Treasurer andg) 4 Committee Members.

5. To appoint an Auditor.

6. To elect trustees.

7. Any other business that may be properly transacted at an annual general meeting.

By order of the Management Committee

f ) s r V tl r■ 4 ' l ~ h tk ^

S.T.KASINATHAN (DR)HON. GEN. SECRETARY

Dated: 2nd November 2015

mailto:[email protected]

http://www.sifas.org



Minutes of the Sixty-Fifth Annual General Meeting of the Singapore Indian Fine Arts Society (“SIFAS”) held on Sunday 9th November 2014 at 10.00 a.m. at the SIFAS Auditorium at 2A Starlight

Road Singapore 217755.

1 Meeting Called To Order

Mr P.Selvadurai called the Meeting to order at 10.00 a.m. The requisite quorum of one quarter of the total membership was not present. Consequently, the meeting was adjourned for half an hour in accordance with Article 14 of the Rules of SIFAS. The meeting was reconvened at 10.30 a.m. A total of 29 members were present and as this constituted a quorum for the adjourned meeting, the Chairman called the meeting to order.The Chairman requested the Meeting to stand and observe a one-minute silence for Prof. A N Rao - former Life Member and Trustee who had passed away on the 8th June 2014.

2 Confirmation of Minutes of 64th Annual General Meeting held on 10th November 2013.

The Minutes of the 64th AGM were confirmed, proposed and seconded respectively by Mr. Shashilal Kashyap and Mr. Somasuntharam Niranjan.

3 To Consider and If Approved Receiver-

fa) Report of the Management Committee 2013-2014 Dr Kasinathan took the meeting through the Report.Mr Bala Subramanion then took the floor and referred to the report of the Management Committee 2013-2014 and enquired about the property loan repayments and current balance.The chairman directed Mr Bhuvanakrishna (VP - Finance) to respond. Mr Bhuvanakrishna provided the following information. An amount of $700K was taken as a term loan on June 14th, 2012. Total regular monthly repayments of $140K and accelerated payment of $200K was made up to June 30th, 2014. The loan balance as at the date of balance Sheet - June 30th, 2014 was $360K. Total regular monthly repayments of $24K and accelerated payment of $200K was made during the post Balance Sheet period of four months ended Oct 31st, 2014. The loan balance as at Oct 31st, 2014 is $136K. SIFAS should be able to repay the property loan in full before the end of financial year June 30th, 2015.Mr N Bala Subramanion appreciated that the statements on the loan have been prepared well, further he suggested that in future the details on the loan taken be available in the statement on financial situation.The report of the management committee 2013 - 2014 was adopted as proposed by Dr. N Varaprasad and seconded by Mr P S Somasekharan.(b) Audited Accounts for the year ended 30th June 2014Mr Bhuvanakrishna (VP - Finance) took the members through the financial statements for the year ended June 30th, 2014. He highlighted the followings:Tuition Fees revenue increased marginally during the year compared to previous year though student subjects decreased over the same period. On the expenditure side, controllable costs had been managed well. Certain costs such as salaries,

foreign workers’ levy increased considerably over the past ten years. He gave an example where foreign workers levy increased from $10K in 2008/ 2009 to $75K in 2013/14. Earnings increased during the year mainly due to the grant of S$ 80K received from Cultural Matching Fund.The above accounts were approved as proposed and seconded respectively by Mr. K.V.Rao and Prof Mr A.Sachithananthan.

4 To consider resolutions or questions of which notice in writing had been received by the Hon. Gen. Secretary at least 7 clear days before the date of the AGM

Dr. S. T. Kasinathan informed the meeting that no resolutions or questions had been received.

5 Re-appointment of Auditors

Messrs MGI Menon and Associates were re-appointed as auditors of the Society until next Annual General Meeting proposed and seconded respectively by Mr. P S Somasekharan and Mr. K V Rao.

6 Re-election of Trustees

The existing trustees Mr. M.Bala Subramanion and Dr N.Varaprasad were reelected and Mr E Sukumar was elected as trustee, until next Annual General Meeting proposed and seconded respectively by Mr. P.S.Somasekharan and Mr. Shashilal Kashyap.

7 Any Other Business

Dr N Varaprasad took the floor and requested for clarifications on two matters.i. Position regarding the premises for the society in terms of expansion and the

extension of the lease hold period left behind in this current premisesii. Steps taken by SIFAS to manage the decline in the number of students

The Chairman requested Mr Bhuvanakrishna (VP - Finance) to reply. Mr Bhuvanakrishna told the members that on an analysis of movements in students by grades (years), the number of students increased in higher grades even though there is an overall decline in total number of students. This is reflected by increased tuition fees revenue. The reason for the decreased students in lower grade is due to travel time / cost for students living away from SIFAS and competition from individual tutors / institutions based in proximity. On the other hand, the increased numbers in higher grades are due to the quality of institutionalized teaching, structured syllabus and recognised examinations conducted at SIFAS. He further said that the decision of SIFAS to move into heartlands is contributing to manage the students decline at lower grades.Mr P Selvadurai clarified on the queries relating to the SIFAS premises. He informed that SIFAS would ideally like to remain in the same premises and has indirectly discussed matters with the people in government through the NAC to get an indication on their thinking whether SIFAS can remain in the current premises. The available period of leasehold for the current premises is six years.

8 Vote of Thanks

The meeting ended at 11.10 am with a vote of thanks to the President, Members of the Management Committee and SIFAS Secretariat for the good work done in the previous year.Recorded by:S. Niranjan Nanthagopan Asst. Secretary with inputs from Attendees Vetted by:Dr S.T.Kasinathan, Hon.Gen.Secretary

SINGAPORE INDIAN FINE ARTS SOCIETY(Est. 1949)



SIXTY- SIXTH REPORT OF THE MANAGEMENT COMMITTEE 2014-2015

1. The Members of the Management Committee for the period 2013-2015 were elected in November 2013. Subsequently there were some changes and the latest list is as follows:-

President Mr. P.Selvadurai

Vice-President Mr. P. S. Somasekharan (Academy)

Vice-President Ms. Anuja Venkatesh (Administration)

Vice-President Mr. K V Rao(Building Fund & Construction)

Vice-President Mr. B. Bhuvanakrishna (Finance)

Vice-President ^JVIfrShashi Lai Kashyap (Performing Arts)

Vice- President Mr. A. Sachithananthan (Publicity)

Honorary General Secretary Dr. S. T. Kasinathan

Honorary Assistant Secretary Mr. S Niranjan Nanthagopan

Honorary Treasurer Mr. Balasubramanian Narayanan With effect from November 2014

Honorary Assistant Treasurer Ms. Sarita Sriram

Committee Member

Co-opted Member

Mr. R.Rajaram Mr. K.Jayaprakash Mr. Sundar Raman Mr. V Thulasidas

The Table of Attendance at Management Committee Meetings held during the period 2014-2015 is attached in Annex 1.

The Attendance List of Members at the last AGM is attached in Annex 2.



1. Mr. V.M. Shaw2. Mr. Sat Pal Khattar3. Mr. K. V. Aiyappan

3. TRUSTEES

1. Mr. M. Bala Subramanion,2. Dr. N. Varaprasad3. Prof. A.N.Rao deceased on 08/06/2014.4. Mr. E. Sukumar with effect from November 2014

4. BOARD OF ADVISORS

1. Mr. J.Y. Pillay2. Mr. Tharman Shanmugaratnam3. Mr. Chandra Das4. Mr. S Iswaran5. Mr. Haider Sithawalla6. Mr. P Selvadurai

5. OTHER SUB-COMMITTEES

Details of the Sub-Committees are attached in Annex 3.

6. CEO AND ACADEMY REGISTRAR

Mr. V .Krushna kumaar was appointed as the CEO during the period of this report. Mr. N R Prashanth continued as Academy Registrar during the period of this report.

7. SECRETARIAT

The secretariat is served by Mrs.G.Kanthimathi, as Accounts Manager / HR Executive and Mrs. Shruthi Prakash, Mrs. Showmya Natarajan, Mrs. Vidhya Venkatesh, Ms Sheela d/o Muthiah Ms.Tripurashree Ramesh and Ms Ravethy Selvaraj as Administrative Officers.

8. MEMBERSHIP 31st July 2015 31st July 2014

Life Membership 253Ordinary Membership 1,570Total Membership 1,823

2261,2381,464

9. FINANCE

The society’s activities generated a surplus of S$ 177,117 [year 2014 - S$87,350] during the financial year under consideration. The Society’s revenue has increased, all controllable costs have been managed well. The net surplus for the academy working account is S$582,000, higher than the previous year’s surplus of S$490,216. The SI FAS festival of music and dance 2015 generated a surplus of S$ 13,081 during the year. The finance and the management committee of the society actively looks in to various methods for increasing the income and reducing the expenses of the society to generate more surplus.

1.1 Music Programmes, Workshops, Lee -Demo & Talk Series by visiting artistes/ alumni

S. No Date Artiste Venue

1 4.10.2014 A Hindustani Classical Vocal Concert By Dr Smt Shruti Sadolikar SIFAS Auditorium

2 24.10.2014 Secrets of Krishna - A Lecture Concert by Ms Charumathi Ramachandran SIFAS Auditorium

3 25.10.2014 SIFAS Mehfil Series - A Hindustani Vocal concert by Mrs Gauri Pathare SIFAS Auditorium

4 8.11.2014Sangeetha Rasonmesha - A Carnatic vocal concert by

Dr S T SathyavathiSIFAS Auditorium

515.11.2014

&16.11.2014

Tributes to Krishna by SIFAS Alumni Rehearsal Room

6 3.1.2015 Short film on Tamil Isai Sri Aurobindo’s Room

7 18.1.2015 Strings of Harmony - A Sitar recital by Smita Nagdev SIFAS Auditorium

8 7.2.2015 Workshops on Manodharma Sangeetham & Concert Planning by Sri Alepey Venkatesan Sri Aurobindo’s Room

9 8.2.2015 Interactive Lecture-Demonstration cum Workshop on “Ragam Tanam Pallavi” by Sri Allepy Venkatesan Sri Aurobindo’s Room

10 13.2.2015 Demonstration-Topic compositions of Shri “Poochi” Srinivasa Iyengar by Sri Alepey Venkatesan SIFAS Auditorium

11 15.2.2015SIFAS Talk Series - A Film screening and talk by Ms Rupa Gopal on the life of legendary Carnatic musician Sangeeta Kalanidhi M L Vasanthakumari

Sri Aurobindo’s Room

12 28.2.2015 & 1.3.2015 Seasons of Music - Spring by SIFAS Alumni Rehearsal Room

13 26.4.2015 SIFAS Mehfil Series - A Hindustani Vocal concert by Ms Meenal Datar SIFAS Auditorium

14 23.5.2015 A Carnatic Vocal Recital by Ananya Ashok SIFAS Auditorium

15 13.6.2015Voice culture - Virtuosity and expression in Indian Classical music - Hindustani and Carnatic Vocal by Dr Sriram Parasuram

Rehearsal Room

16 14.6.2015 Painting with the bow - Workshop on Violin by Dr Sriram Parasuram Rehearsal Room

17 20.6.2015 Alumni Music production on Remembering GNB concert Rehearsal Room

18 20.6.2015 A Carnatic Vocal Recital by Sankari Krishnan SIFAS Auditorium

19 3.7.2015 A Carnatic Vocal Recital by G Ravi Kiran SIFAS Auditorium

20 5.7.2015 Parampara - A Tabla Workshop by Acharya Pandit Sankha Chatterjee SIFAS Auditorium

21 12.7.2015 SIFAS Mehfil Series A Hindustani Vocal Concert by Sangeetacharya Dr Jyoti Kale

SIFAS Auditorium

22 18.7.2015 Aham - Reflections of the self - Music & dance production by SIFAS Alumni

NLB Dram Centre Theatre

23 30.8.2015 A Carnatic Vocal Concert by Jayamangala Krishnamani SIFAS Auditorium

24 12.9.2015 A Tribute to Legendary Carnatic Vocalist Smt M S Subbulakshmi - by Trichur Shubasree SIFAS Auditorium

25 19.9.2015 A Thematic Carnatic Vocal Concert on Shiva Rama Krishna by Smt Gayathri Mahesh SIFAS Auditorium

26 23.10.2015 A Thematic Carnatic Vocal Concert on "Thri Shakthi’ by R Suryaprakash SIFAS Auditorium

1.2 DANCE PROGRAMMES BY VISITING ARTISTE / ALUMNI

S.No Date Artiste Venue

1 15.1.2015 Bharatanatyam performance - by Purna Venugopalan SIFAS Auditorium

2 5.6.2015 Bharatnatyam workshop - Basics of learning Bharatanatyam" by Prof A Janardhanan SIFAS Auditorium

3 10.6.2015 Epic Women- by Dr Gowri Ramnarayan with Savita Narasimhan & Anjana Anand SIFAS Auditorium

4 22.8.2015 Seasons of Dance - Monsoon Rhythms’ by SIFAS Alumni SIFAS Auditorium

1.3 PROGRAMMES PRESENTED BY TEACHERS / STUDENTS

S. No Date Teacher / Programme Venue

1 3.10.2014Navarathri Celebration - Accompanying by Gurus V K Sivakumar, N Ravindran & Thirupunithura Sreekanth

PGP Hall, Sri Perumal Temple

2 5.10.2014 Krishna Manjari - Kathak Dance performance by Guru Jyotika Joshi PGP Hall, Sri Perumal Temple

3 5.10.2014 Shivoham Dance Production - Accompanying by Gurus Sanjit Lai & P Susanth NUS ,UCC

4 7.10.2014 Mandolin U Srinivas condolence meeting Sri Aurobindo’s Room

5 11.10.2014 Hindustani Vocal - Student’s Nite by Students of Guru Sonali Sinha Biswas SIFAS Auditorium

6 13.10.2014 Workshop on Krithi and Kayal by Gurus M S Vidya & Sonali Sinha Biswas Rehearsal Room

7 17.10.2014Deepavali celebrations - Basic Military Training Centre in Palau Tekong - Kathak dance performance by Guru Jyotika Joshi

Basic Military Training Centre in Palau Tekong

8 18.10.2014Deepavali celebrations at Teck Ghee RCL - Bharatanatyam & Kathak dance by Students of Gurus Jyotika Joshi & Ramya

MP Theatre Blk 306A Teck Ghee Vista, Ang Mo Kio

9 22.10.2014 Deepavali Musical Event - Accompanying by Guru Mihir Kundu Singapore Polytechnic

10 26.10.2014 Deepavali Utsavam - Bharatanatyam & Kathak dance concert by Gurus & SIFAS Students Gardens by the Bay

11 28.10.2014 Choral assembly - Sitar & table performance by Gurus Susanta Chowdhury & Mihir Kundu Tanglin Trust School

12 1.11.2014 Carnatic Vocal - Students’ Nite by Students of Guru Janaki Sadagopan SIFAS Auditorium

13 7.11.2014 Hindustani Vocal - Student’s Nite by Students of Guru Deepa Paliwar SIFAS Auditorium

14 9.11.2014 SIFAS Sangamam Deepavali celebrations - Concerts by SIFAS Gurus, Students & Alumni SIFAS Auditorium

15 25.11.2014 Kala Utsavam - Accompanying by Gurus Mihir & Susanta for Kathak dance Esplanade

16 28.11.2014Shantanjali Festival of Arts - Kathak & Bharatanatyam Dance by students of Gurus Jyotika Joshi & Sanjit Lai

Hong Lim Park

17 30.11.2014

Shantanjali Festival of Arts - Hindustani Vocal performance by Students of Guru Sonali Sinha Biswas Hong Lim Park

18 10.1.2015 Sri Thyagaraja Swamy’s 168th Aradhana SIFAS Auditorium19 10.1.2015 SIFAS Open House Class Room

20 16.1.2015 & 21.1.2015

Art Walk 2015 - precarious performance of Tabla & Mridangam by Students of Gurus Mihir Kundu and Thirupunithura Sreekanth

Campbell Lane, little India

21 18.1.2015 Pungool Celebration at Bukit Panjang CC - Art workshop by Guru Prakash Bukit Panjag CC

22 26.1.2015 Republic Day Celebration - Inauguration song & Kathak Dance performance by SIFAS Students Shangri La Hotel, Singapore

23 03.02.2015Natarajar Isai Aradhanai - Participating in Chorus singing by Carnatic vocal students & Gurus Janaki & Santhitika

Sri Senpaga Vinayagar, Temple

24 07.02.2015Sri Senpaga Vinayagar Mandalabhishekam - Accompanied by Guru N Ravindran on Violin for Carnatic Vocal (Archana & Aarthy Sisters)

Sri Senpaga Vinayagar Temple

2510.02.2015,

11.02.2015 & 12.02.2015

Sri Warisan and Asian Arts and Culture Week - Workshop and performance by Gurus Gayathri & Nishanthe

UWCSEA

26 13.02.2015Sri Senpaga Vinayagar Mandalabhishekam - Accompanied by Guru Naveen Kumar on Violin for Pannisai Othuwar Satgurunathan


27 15.02.2015Sri Senpaga Vinayagar Mandalabhishekam - Accompanied by Guru N Ravindran on violin for Carnatic Vocal: Allepy Venkatesan


28 16.02.2015

Sri Senpaga Vinayagar Mandalabhishekam - Accompanied by Guru Naveen Kumar on Violin & Guru Sreekanth on Mridangam for Carnatic Vocal: SIFAS Guru Santhirika Manikavel


29 17.02.2015Shivarathri celebration at Sivan Koil - Carnatic and Hindustani Music concert by SIFAS Hindustani & Carnatic Gurus.

Sri Sivan Temple 24 Geylang East Ave 1

30 21.02.2015

Sri Senpaga Vinayagar Mandalabhishekam - Accompanied by Guru N Ravindran on Violin & Guru Sreekanth on Mridangam for Carnatic Vocal: Guru M S Vidya


31 21.2.2015Aurobindo Mothers birthday celebration - Hindustani Vocal concert by Guru Shibani Roy & Guru Mihir Kundu on Tabla

Aurobindo Society, SIFAS

32 27.2.2015 Kathak dance - Students’ Nite by Students of Guru Jyotika Joshi SIFAS Auditorium

33 28.02.2015Sri Senpaga Vinayagar Mandalabhishekam - Accompanied by Guru N Ravindran on Violin for Carnatic Vocal: Malladi Brothers


34 28.02.2015Sri Purandar Namana Thematic Music concert led by local Kannada artists & SIFAS Gurus B S Anand & M S Vidya

Kg Chai Chee, CC, 200 Bedok North, Ave 1

35 01.03.2015Sri Senpaga Vinayagar Mandalabhishekam - Accompanied by Guru Naveen Kumar on Violin for Carnatic Vocal: Sushma Somasekaran


36 02.03.2015 Sri Senpaga Vinayagar Mandalabhishekam - Bharatanatyam & Kathak concert by SIFAS Gurus Sri Senpaga Vinayagar Temple

37 03.03.2015Sri Senpaga Vinayagar Mandalabhishekam - Accompanied by Guru Naveen Kumar on Violin for Carnatic Vocal: Poornima Satish


38 03.03.2015 Art Workshop by Guru Prakash at Temasek Primary School Temasek Primary School

39 07.03.2015 Carnatic Vocal -Students’ Nite by Students of Guru T P Nishanth SIFAS Auditorium

40 08.03.2015Vidhya Ravinchandra’s Arangetram (non SIFAS Student) - Accompanied by Guru V K Sivakumar on Flute

Anglo Chinese School, Barker Road

41 08.03.2015 Sri Senpaga Vinayagar Mandalabhishekam - Instruments concert by SIFAS Gurus

Sri Senpaga Vinayagar, Temple

42 14.03.2015

Sri Senpaga Vinayagar Mandalabhishekam - Accompanied by Guru N Ravindran on Violin & Guru Sreekanth on Mridangam for Carnatic Vocal: Akkarai Sisters


43 18.4.2015 Carnatic Vocal - Students’s Nite by Students of Guru Sushanth P SIFAS Auditorium

44 20.04.2015 & 21.04.2015 Singapore Youth Fest - Judgment By Mr Sanjit Lai UCC, NUS

45 24.04.2015

Indian New Year Celebration 2015jugalbandhi of Bharatanatyam and Kathak dance bySIFAS Gurus Afsar Khan, Jyotika, Sanjit Lai &Haritha

Opp Serangoon Plaza ground, Serangoon Road

46 24.04.2015 Carnatic Vocal Students’s Nite by Students of Guru M S Vidya SIFAS Auditorium

47 25.04.2015 Bharatnatyam - Students’s Nite by Students of Guru Gayathri C SIFAS Auditorium

48 02.05.2015 Hindusani Vocal- Students’Nite by Students of Guru Shibani Roy SIFAS Auditorium

49 03.05.2015Chitra Poornima celebration - Vocal by Susanth P, Accompanied by Naveen Kumar, Sreekanth & Mihir Kundu

@ Mr Param’s residence

50 07.05.2015 Indian Heritage Centre inauguration Kathak performance by Students of Guru Jyotika Joshi

Indian Heritage Centre 5 Campbell Lane, Singapore

51 08.05.2015 Carnatic Vocal - Students’ Nite by Students of Guru B S Anand SIFAS Auditorium

52 15.05.2015IHC inauguration - Carnatic ensemble - by M S Vidya, Ravindran, Sreekanth & student of Sreekanth.


53 16.05.2015IHC - inauguration - Hindustani ensemble by Sonali, Mihir, Shibani, Susanta & Chiradip & Students of Sonali & Susanta


54 05.06.2015

SEA Games 2015, Opening Ceremony , Big Singapore Welcome - Bharatanatyam performance by SIFAS Students and vocal & instruments support by SIFAS Carnatic gurus

Singapore Sport Hub

55 11.06.2015 Vasanthostsavam - Bharatanatyam & Kathak dance performance by SIFAS Students Sri Perumal Temple

56 19.06.2015Nritya Rang - Expressions of Kathak by Ponnamma Devaiah , Accompaniment on Sitar by Guru Susanta Chowdhury

Esplanade, Theatre Studio

57 27.06.2015 Carnatic Violin - Students’ Nite by Students of Guru Naveen Kumar SIFAS Auditorium

58 11.07.2015 SIFAS Open House Class Rooms

59 18.07.2015

Kalamanjari - SG50 book release - Music ensemble by Ms Janaki, Mr Nishant, Mr Sreekanth, Mr Naveen, Mr Sivakumar, Susanta Chowdhury & Mr Chiradip, Kathak Dance by Mr Mulla & Students

NLB, Possiblity Room

60 19.07.2015 Carnatic Vocal & Flute - Students’ Nite by Students of Guru Sivakumar SIFAS Auditorium

61 26.07.2015 Carnatic Violin - Students’ Nite by Students of Guru N Ravindaran SIFAS Auditorium

62 31.07.2015 Tabla - Students’ Nite by Students of Guru Mihir Kundu SIFAS Auditorium

63 03.08.2015 Hindustani & Carnatic Vocal - Workshop for HWA CHONG Institution by Guru Shibani & B S Anand Rehearsal Room, SIFAS

6414.08.2015,

15.08.2015 & 16.08.2015

Chennai Festival 2015 & SIFAS Festival 2016 Auditions

SIFAS Auditorium & Rehearsal room

65 16.08.2015 Vachananjali 2016 - Accompaniment on tabla by Guru Mihir Kundu Tampines East CC Auditorium

66 23.08.2015 Carnatic Vocal & Veena - Students’ Nite by Students of Guru Sreedevi SIFAS Auditorium

67 05.09.2015 SIFAS Academy Day Republic Polytenic

68 27.09.2015 Hindustani Vocal & Sitar Students’Nite by Students of Guru Susanta Chowdhury SIFAS Auditorium

69 10.10.2015 Nava Krithi - Workshop On 9 Devi Krithis by Sushma Somasekharan & Chitra Poornima Sathish Rehearsal Room, SIFAS

70 11.10.2015 Mahalaya - Kathak performance by SIFAS Kathak students East Coast Park

Navarathri Celebration 2015

71 13.10.2015

1. Carnatic Vocal recital by Guru T P Nishant2. Kathak dance by Gurus Jyotika Joshi & Mulla Afsar

Khan

SIFAS Auditorium

72 14.10.20151. Hindustani Vocal recital by Gurus Sonali Sinha

Biswas & Shibani Roy2. Sitar recital by Guru Susanta Chowdhury

SIFAS Auditorium

73 15.10.2015 1. Violin duet: by Guru Ravindran & Guru Naveen2. Flute Recital by Guru V.K. Sivakumar SIFAS Auditorium

74 16.10.2015 1. Veena recital by Guru Sreedevi2. Carnatic Vocal: Guru Sushanth Parambath SIFAS Auditorium

75 17.10.2015 Keyboard Students Nite by Students of Dr K Sivaraj SIFAS Auditorium76 18.10.2015 Alumni Music & Dance Programmes SIFAS Auditorium

77 19.10.20151. Carnatic Vocal Recital by Guru N R Prashanth2. Bharatanatyam recital by Guru Geetha Nadhan

and Guru HarithaSIFAS Auditorium

78 20.10.20151. Carnatic Vocal Recital by Guru B.S Anand2. Bharatanatyam recital by Guru Sreeliji and

Guru VikasSIFAS Auditorium

79 21.10.2015

1. Carnatic vocal recital Guru Janaki and Guru Santhirika

2. "DEVI AVYAHAM" Grand Jugalbandhi Finale byGurus Haritha, Vikas, Jyotika Joshi and Mulla Afsar Khan

SIFAS Auditorium

80 17.10.2015 Navarathri Performance at the Sri Mariamman Koil - Bharatanatyam Sri Mariamman Temple

81 19.10.2015Navarathiri Celebrations 2015 at Sri Senpaga Vinavaaar Temole - Vocal Carnatic & Bharatanatvam performance bv SIFAS Gurus

Sri Senpaga Vinayagar Temple, 19 Ceylon Road

82 20.10.2015Workshop on Krithi & Kayal for NJC - conducted By Gurus B S Anand, Ravindran, Sreekanth, Shibani Roy & Mihir Kundu

Rehearsal Room, SIFAS

83 25.10.2015 Bharatanatyam - Students’Nite by Students of Guru Nishanthie SIFAS Auditorium

84 30.10.2015 Carnatic Vocal - Students’ Nite by Students of Guru Santhirika

SIFAS Auditorium

85 31.10.2015 Tabla - Students’Nite by Students of Guru Chiradip SIFAS AuditoriumBanerjee

1.4 ARANGETRAM (DEBUT) PERFORMANCES

S.No. Date Programme Venue

1 21.06.2015 Bharatanatyam - Ms Meenalochini Ulu Pandan CC, Singapore

2 04.07.2015 Taal Saadhana - Tabla - Mr G Lakshmanan The Singapore Airlines Theatre, LASALLE, Singapore

3 01.08.2015 Bharatanatyam - Ms Sambhavi Rajangam NUS-_ University Cultural Centre, Singapore

PAPANASAM SIVAN COMPETITION WINNERS LISTSI.No Students Name Discipline Category Tutors name Position

1 Sayeeswaran Syan Vocal Carnatic Junior Ms Santhrika I

2 R Krishaa Vocal Carnatic Junior M S Vidya III

3 Kanikisetty Sai Harshitha Vocal Carnatic Junior M S Vidya III

4 Balaji Krithika Vocal Carnatic Junior M S Vidya III

5 Rachana Murali Narayanan Vocal Carnatic Subsenior M S Vidya I

6 Vaishnavi Ram Vocal Carnatic Subsenior M S Vidya II

7 Sandhya Ramachandran Vocal Carnatic Subsenior M S Vidya II

8 Pranav Krishna Prasad Vocal Carnatic Subsenior M S Vidya II

9 Kireeti Desiraju Vocal Carnatic SubseniorMs Sundari Devi II

10 Suparna Samavedham Vocal Carnatic SubseniorMs Sundari Devi II

11 Janani Arun Vocal Carnatic SubseniorMs Sundari Devi III

12 Mridula Kumar Vocal Carnatic SubseniorMs Sundari Devi III

13 Ananya Ravishankar Diddapur Vocal Carnatic Subsenior Mr Sushanth III

14 S.Sathya Selvan Vocal Carnatic SeniorMs Sundari Devi II

15 R.Meenakshi Vocal Carnatic SeniorMs Sundari Devi III

16 Akshaya Sivaram Vocal Carnatic Spl Category Ms Vidya I

17 Poojyatha Venkatesh Vocal Carnatic Spl CategoryMr N R Prashanth III

18 Shruthi Kumar Violin Subsenior (Group) Mr Ravindran I

19 Swathi Kumar Violin Subsenior(Group) Mr Ravindran

20 Subiksha Raman Violin Subsenior (Group) Mr Ravindran I

21 Sudhasaki Raman Violin Subsenior(Group) Mr Ravindran

22 Kishan Hebbar Violin Subsenior(Group) Mr Ravindran II

23 Ganesh Ravishankar Violin Subsenior(Group) Mr Ravindran

24 Sandhya Ramachandran Violin Subsenior(Solo)MrNaveenkumar I

25 Subiksha Raman Violin subsenior(solo) Mr Ravindran I

26 B K Rakshith Violin Subsenior(Solo) Mr Ravindran III

27 Navein Gunasekaran Violin Senior Mr Ravindran I

28 Akshaya Sivaram Violin Adult Mr Ravindran I

29 Surup Sowmithri Thathachaar Violin Spl Category Mr Ravindran I

30 Sathwikaw Manikandan Veena SubseniorMs Sundari Devi I

31 Mridula Kumar Veena SubseniorMs Sundari Devi II

32 Niranjan Sunthra Ramanan Mridangam Subsenior Mr Sreekanth I

33 Akash Blajee Mridangam Subsenior Mr Sreekanth I

34 Navaneethan Adityaraj Flute Subsenior Mr Sivakumar I

35 Gopika N L Bharatanatyam Subsenior Ms Sakitha II36 Maanasa Sri Ganesh Bharatanatyam Senior Ms Sakitha I

11. SIFAS ISAI VIZHA IN CHENNAI4

For the fifth year running, SIFAS, together with the Singapore Company Carnatic Radia.com, organised Carnatic Music Festival in Chennai from 8th December to 12th December 2014. This was held at Madras Music Academy’s Mini Hall, Chennai and was inaugurated by Chief Guest HiE-Hoy KOH Ngee Seng Consul General of Republic of Singapore in Chennai.The attendance at most concerts was good, which is encouraging. Full details of the performances are shown in Annex 4.

12. SIFAS FESTIVAL OF MUSIC AND DANCE 2015

The Society, for the 13th successive year, organised the SIFAS Festival of Indian Classical Music and Dance held from Monday 30th March 2015 to Sunday 12th April 2015.The Festival presented concert by outstanding musicians Pandits Rajan Sajan Mishra and dance drama by Rukmani Devi’s Kannapar Kuravanji, a dramatic tale of devotion presented by Kalakshetra Foundation. About 49 local concerts were held at SIFAS Auditorium which provided a platform for local and regional artistes to showcase their talents. The list of various programmes presented during the Festival is attached in Annex 5.

13. MUMMOORTHIGAL VIZHA

The annual Mummoorthigal Vizha which pays tribute to the Carnatic Music Trinity was celebrated on Sunday 12th April 2015 after the closure of a successful run of the Festival of Indian Classical Music and Dance 2015. The Mummoorthigal Vizha opened with the usual prayers and congregational singing led by SIFAS Gurus and continued with cultural programmes presented by the students of SIFAS. Over 100 students participated in the function, which was attended by more than 300 people.

14. SIFAS ALUMNI ASSOCIATION

SIFAS ALUMNI ASSOCIATION was formally established on 13th September 2008 with the attendance of 18 alumni members. The objective was to get the whole diaspora of music and dance graduates of SIFAS to interact with SIFAS Academy and carry out academic activities like workshops, seminars etc and to periodically feature alumni in SIFAS programmes and events.

Alumni concert was presented at SIFAS Festival 2014 and the alumni continue to be actively involved in SIFAS events.

The current SIFAS ALUMNI COMMITTEE is as follows:President: Ms. Meera BalasubramaniamVice-President: MsSushma Somasekharan , Ms Deneshwari SingamSecretary: Ms. Shruthi RameshAsst Secretary :Sudha RamanTreasurer: Vidhya NatarajanAsst. Treasurer: Sharanya RaoMusic IC: Mr Sudarshan NarasimhanDance IC : Ms. Shivani RajaramPublicity IC : Mr.Nishanth ThiagarajanEditor: Ms Periya Sundaram

15. ACADEMY DAY 2015

The 65th Academy Day was held on Saturday 5th September 2015 at the Republic Polytechnic Cultural Centre. The Guest of Honour Mr. Ong Bon Chai, Honorary Director of Soka Association, Singapore , applauded the efforts of SIFAS and presented certificates and Awards to all awardees. This year’s Kala Ratna title was awarded to Mr E.S.Jagadis Chandran, conferred for his invaluable contributions, accomplishments and support for the development of Indian arts in Singapore. The evening’s cultural programme was followed by the presentation of Certificates, Diplomas, Awards and Titles by the Guest of Honour. The event was well attended by SIFAS members.

16. NAVARATHRI PROGRAMMES

The Navarathri festival was held from 13th October to 21st October 2015. SIFAS Gurus and Students Presented an array of music and dance programmes during this period which engulfed SIFAS in a divine atmosphere.

17. SATELLITE CENTRE

On 22nd July 2014, the first Satellite Centre was started in partnership with Tampines Changkat Community Centre, to enable students to have access to Levels 1 to 4 of SIFAS curriculum in all 12

disciplines that are being offered at the main campus. Tampines Changat CC opted for Carnatic vocal classes. SIFAS looks forward to start more Satellite Centers island-wide.

18. MOVEMENT OF STUDENTS

Students registered for the various courses as at 31st July 2014 and 2015 are shown below:

Subject 31st July 2014 31st July 2015Dance Bharatnatyam 357 346Dance Kathak 96 124Hindustani Vocal 192 200Carnatic Vocal 372 365Flute 18 20Violin 79 75Veena 29 26Mridangam 43 49Tabla 100 104Sitar 20 30Key-board 106 103Visual Arts 143 165Total 1555 1607

19. MOVEMENT OF TEACHERS

The following teachers left the employment of the Academy during the period August 2014 to October 201 Si-

Name Subject Month Resigned

1. Mr. Sanjit Lai2. Mrs Sakita Kugamoorthy3. Ms Gayathri Chachithanathar4. Ms M.S.Vidhya5. Mr Mishra Surender Kumar

Bharatanatyam Bharatanatyam Bharatanatyam Carnatic Vocal Visual Arts

The following teachers joined the Academy:-

Resigned, August 2015 Resigned, July 2015 Resigned, July 2015 Resigned, June 2015 Resigned , June 2015

Name Subject Month Joined

1. Ms Shibani Roy Hindustani Vocal January 20152. Ms. Haritha Bharatanatyam March 2015-^3. Ms Nishantie Bharatanatyam October 20/f54. Mr Naveen Violin October 20(l 55. Mr Mulla Afsar Khan Kathak March 20156. Ms Sreeliji Bharatanatyam July 20157. Mr Geethanadhan Bharatanatyam July 20158. Mr Vikas Parayil Bharatanatyam August 20159. Mr Rajesh Kumar Visual Arts June 2015

20. ACADEMY EXAMINATIONS 2015

Academy Examinations were conducted from 31st May 2015 to 15th June 2015 .786 students sat for the examination.

The External Examiners were Dr.Sriram Parasuram and Prof Janardhanan, Emeritus Professor, Kalakshetra Chennai.

46 Students were issued certificates for having passed the fifth year examinations with 12 students in Bharatanatyam, 14 students in Carnatic Vocal, 6 students in Violin, 1 student in Flute, 4 students in Mridangam, 5 students in Hindustani Vocal, 2 students in Kathak, and 2 students in Tabla.

There were 5 Diploma Holders, 1 in Bharatanatyam, 1 in Carnatic Vocal, 1 in Tabla , 1 in Mridangam and 1 in Kathak.

There were 5 best student awards comprising of 1 in Carnatic Vocal, 1 in Bharatanatyam, 1 in Violin, 1 in Flute and 1 in Mridangam .

There were 3 Natya Visharad title awardees.

21. REPRESENTATIONS IN OTHER ORGANISATIONS

Members of the Society continued to be active in the People’s Association, National Arts Council, Tamil Language Council and SINDA.

Mr. P. Selvadurai People’s Association, Representative, Corporate Member.

Dr. S. T. Kasinathan Chairman Sri Senpaga Vinayagar Temple, Advisor to Ceylon Sports club.

Mr. A. Sachithananthan PBM Member of Citizens Consultative Committee Mountbatten Constituency

AMember Indian Activity Group Sachi

Mr. P. S. Somasekharan National Arts Council, Member, Indian Music Competition Advisory Committee

Mr. R Raja ram Tamil Language Council - Chairman

SINDA Executive Committee, Member

Lee Kuan Yew Fund for Bilingualism Committee, Member

Mr. K.V. Rao Singapore Indian Development Association (SINDA): Chairman, Information Technology Resource Panel - SINDAMember, Executive Committee - SINDA Member, Audit Review Committee - SINDA Singapore Business Federation (SBF) - South Asia Business Group Executive Committee - Vice ChairmanSri Aurobindo Society - Vice Chairman, Executive Committee

Mr Sashilal Kashyap Sri Aurobindo Society Singapore: ChairmanGita Jayanthi: AdvisorSri Krishna Our Guide: Patron

22. FUTURE PLANS

1. To sign Memoranda of Understanding with leading overseas arts institutions.

2. To set up satellite centres in Singapore and in overseas cities.

23. ACKNOWLEDGEMENTS

The society places on record its grateful appreciation to the following organisations.

National Arts Council

Shaw Foundation

Lee Foundation

OLI 96.8

Vasantham

The Straits Times

Tamil Murasu

Members, well-wishers and supporters.

FOR AND ON BEHALF OF THE MANAGEMENT COMMITTEE

DR.S.T. KASINATHAN

HON.GEN.SECRETARY

TABLE OF ATTENDANCE AT MANAGEMENT COMMITTEE MEETINGS

NOVEMBER 2014 TO SEPTEMBER 2014 (9 meetings)

NAME OF COMMITTEE MEMBER NUMBER OF MEETINGS ATTENDED

Mr. P. Selvadurai 06/09

Mr. P.S. Somasekharan 07/09

Mrs. Anuja Venkatesh 07/09

Mr. K.V.Rao 04/09

Mr B.Bhuvanakrishna 07/09

Mr. Shashi Lai Kashyap 04/09

Mr. A. Sachithananthan 06/09

Dr S.T.Kasinathan 09/09

Mr. S Niranjan Nanthagopan 07/09

Mr Balasubramanian 07/09

Ms Sarita Sriram 07/09

Mrs Kokila Rajan01 / 09( Resigned on May

2015)

Mr R.Rajaram 05/09

Mr K.Jayaprakash 01 / 09

Mr. Sundar Raman 06/05 (Co-opted Mar 2014)

Mr. V Thulasidas 05/01 (Co-opted Aug 2014)

ATTENDANCE LIST OF MEMBERS AT AGM HELD ON 9TH NOVEMBER 2014

S. No. Name1. Mr S. Varadharajan2. Mr S. Madhusudhanan3. Mr Satheesh Kumar T4. Mr B. Bhuvana Krishna5. Mr S. Niranjan Nanthagopan6. Mr M. Balasubramanian7. Mr P.Selvadurai8. Dr. S T Kasinathan9. Mr Sundarraman10. Mr Sachithanandan11. Ms Kavitha Sudesh12. Ms Kokila Rajam13. Mr S. Madheswaran14. Mr K V Rao15. Mr P S Somasekharan16. Ms Hema Prakash17. Mr R Rajaram18. Mr Balasubramanian19. Dr N Varaprasad20. Mr S. Planiappan21. Mr Sashilal Kashyap22. Mr R Sivakumar23. Mr V Krushna Kumaar24. Ms Rekha25. Ms Indhujaa Soham26. Mr K Rajasekhar27. Mr Shankar Rajan28. Mr S. Ramasway29. Ms Sarita Sriram

LIST OF SUB - COMMITTEES (As at 25th September 2015)

ACADEMY SUB-COMMITTEE

1. Mr. P S Somasekharan - Vice-President (Academy)

2. Mr. P Selvadurai

3. Dr. S T Kasinathan

4. Mr. B Bhuvana krishna

5. Ms. Anuja Venkatesh

6. Mr. R Rajaram

7. Mr. K Jayaprakash

8. Mr. Balasubramanian

9. Mr V. Krushna kumaar CEO

10. Mr. N R Prashanth (Academy Registrar)

ADMINISTRATION SUB-COMMITTEE1. Ms. Anuja Venkatesh - Vice-President (Administration)

2. Mr. P Selvadurai


4. Mr. A Sachithananthan

5. Mr. P S Somasekharan

6. Mr. B Bhuvana Krishna

7. Mr.R Rajaram

8. Ms. Sarita Sriram

9. Mr. Sundar Raman

10. Mrs. Radhika Narayanamohan Resigned on February 2014

11. Mr V. Krushna Kumaar ( CEO)

BUILDING FUND & CONSTRUCTION SUB-COMMITTEE1. Mr. K V Rao - Vice-President (Building Fund & Construction)

2. Mr. P. Selvadurai


4. Mr. Shashilal Kashyap



1. Mr. B Bhuvana Krishna - Vice-President (Finance)

2. Mr. V.Krushna Kumaar - Upto September 2014

3. Ms. Sarita Sriram

4. Dr. S.T. Kasinathan


6. Ms. Anuja Venkatesh

7. Mrs. Kokila Rajan - Upto April 2015

8. Mr. S Niranjan Nanthagopan

9. Mr. Sundar Raman

10. Mr V. Krushna Kumaar ( CEO) - w.e.f October 2014

11. Mrs. G. Kanthimathi (Accounts Officer)

PUBLICITY SUB-COMMITTEE

1. Mr. A Sachithananthan - Vice-President (Publicity)

2. Dr. S.T. Kasinathan


4. Mr. S Niranjan Nanthagopan

5. Mrs. Sarita Sriram

6. Mrs. Viji Gopi

7. Mr. E Sukumar

8. Dr. Seshan Ramaswami

9. Mrs. Rhama Shankar

10. Mr. N S Vijaya Ranga Prasad


PROGRAMMES PRESENTED AT THE SIFAS FESTIVAL OF MUSIC AND DANCE - CHENNAI 2014From 8th December to 12™ December 2014Madras Music Academy, Mini Hall, Chennai

SNo Date / Day Programmes

1

08.12.2014Monday

‘Mangala Isai’ - T K R Ayyappan & TK R Meenakshisundaram Nagaswaram, T K Sekar & T G Babu - Thavil

2 INAUGURATION by Cheief Guest H E Roy KOH Ngee SengConsul General of Republic Singapore in Chennai

3 Carnatic Vocal - by Nishanth Thiagarajan, Shreya Gopi - Violin & Sai Akileshwar Mridangam

4 09.12.2014Tuesday

Carnatic Vocal by Sharad Rajaraman, Shreya Gopi - Violin & Sudharshan Narasimhan - Mridangam

5 Carnatic Vocal by Nanditha Gurunath, Sharad Rajaraman-Violin & Sai Akileshwar- Mridangam

610.12.2014Wednesday

Carnatic Vocal by Sudarshan Narasimhan, Srikanth Radhakrishnan-Violin & Thulasidas Vasudeven-Mridangam

7 Meera Balasubramanian - Bharathanatyam

8 11.12.2014Thursday

Carnatic Vocal by Mythili Rajaraman, Srikanth Radhakrishnan-Violin & Sudharshan Narasimhan-Mridangam

9 Madhumitta Venkatesan - Bharathanatyam

10 12.12.2014Sunday

Carnatic Vocal by Srikanth Radhakrishnan, Sharad Rajaraman-Violin & Sai Akhileshwar-Mridangam

11 Manasa Sri Ganesh - Bharathanatyam

PROGRAMMES PRESENTED AT THE SIFAS FESTIVAL OF MUSIC AND DANCE 2015FROM 30th March TO 12th April 2015

S.No. Date Programmes Venue1 Inauguration of Festival 2015

2 30.03.2015 Carnatic Vocal by Sudarshan Narasimhan SIFAS Auditorium

3 Bharatanatyam - Meera Balasubramanian

4 Carnatic Vocal by Mytreyi S R

5 31.03.2015 Carnatic Vocal by Shruti Anand SIFAS Auditorium6 Kathak by A.D. Ponnamma7 01.04.2015

Sitar By Huren Sivaraj

8 Bharatanatyam by Sharanya SIFAS Auditorium

902.04.2015

Carnatic Vocal by Nishanth ThiagarajanSIFAS Auditorium

10 Bharatanatyam by Diya Gopalan

11 Hindustani Vocal by Sandhya R

12 Carnatic Vocal by Ananya Ravishankar Diddapur

13 Hindustani Vocal by Sukrut Yogesh Gondhalekar

14 Hindustani Vocal by Trina Banerjee

15 Carnatic Vocal by Venkata Yoga Aayush Veturi

16 SIFAS Tabla Students Ensemble

17 03.04.2015 Carnatic Vocal by Rajalakshmi Nageswaran SIFAS Auditorium

18 Bharatanatyam by Shruti Sridhar

19 Bharatanatyam by Vaishnavi Dinesh

20 Bharatanatyam by Shobana Ravichandran

21 Kathak Group Performance by SIFAS Students

22 Bharatanatyam by Isha Chandra Gowda

23 Bharatanatyam by Kalyani Hema Nair

24 Bharatanatyam by Aarthi Devarajan

2504.04.2015

Hindustani Workshop by by Pandits Rajan - Sajan Mishra

PGP Hall, Srinivasa Permal

Temple

26 Carnatic Vocal by Harshitha V SIFAS Auditorium

27 Carnatic Vocal by Sharadh Rajaraman

28 Carnatic Vocal by Yoga Advaith Veturi

29 Bharatanatyam by Nishanthei Jeganathan

30 Kathak Group Performance by SI FAS Senior Students

31 Bharatanatyam by Periyachi Roshini

3205.04.2015

Carnatic Vocal by Nandhitha Gurunath SIFAS Auditorium

33Antar Yatra The Journey within by Pandits Rajan - Sajan Mishra Esplanade Theatre

34 06.04.2015 Flindustani Vocal by Ramya Sivaramakrishnan SIFAS Auditorium35 Odissi Dance by Manasi Raghunandan

36 07.04.2015 Carnatic Vocal by S.SriPriya SIFAS Auditorium37 Bharatanatyam by Raghu Nandan S

38 08.04.2015Carnatic Vocal Duo by Ganesh Balasubramanian & Sriram Balasubramanian SIFAS Auditorium

39 Bharatanatyam by Dr Smt Siri Rama

40 09.04.2015 Senior Flute by R.Seenivasan SIFAS Auditorium41 Bharatanatyam by Shruthi Ramesh

42 10.04.2015 Violin Solo by Surup Sowmithri Thathachar SIFAS Auditorium43 Bharatanatyam by Shanthigodu Sadhana Tholpady

44

11.04.2015

A Lec-Dem by Ms Priyadarshini Govind

SIFAS Auditorium45

Hindustani Vocal Duo by Tanuja Sane & Seema Ovalekar

46 Violin by Bombay V Anand

47 Carnatic vocal by M.S.Vidya

4812.04.2015

Mummoorthigal Vizha49 Kannapar Kuravanji A Dramatic tale of Devotion by

Kalakshetra FoundationEsplanade Theatre

ANNEX 6

DETAILS OF THE EXAMINATION RESULTS 2015

YEAR A B C + C D F ABSENT TOTAL2015 2015 2015 2015 2015 2015 2015 2015

1 156 45 33 16 19 2 3 274

2 84 39 23 13 10 3 6 178

3 66 25 17 3 7 4 5 127

4 39 21 10 4 5 9 2 90

5 9 18 22 0 4 1 3 57

6 6 10 8 2 4 0 1 31

7 11 4 2 0 0 0 0 17

8 6 4 2 0 0 0 0 12

TOTAL 377 166 117 38 49 19 20 786

% 47.96% 21.12% 14.89% 4.83% 6.23% 2.42% 2.54% 100.00%

100.00%

* F - Fail

SINGAPORE INDIAN FINE ARTS SOCIETY(UEN Number: S62SS0048J)

(A Society Registered in the Republic of Singapore)

Annual ReportFor the financial year ended 30 June 2015

Contents

Page

Statement by the Management Committee 31

Independent Auditor's Report 32 - 33

Statement of Financial Position 34

Statement of Comprehensive Income 35

Statement of Changes in Funds 36

Statement of Cash Flows 37

Notes to the Financial Statements 38 - 63

Detailed Income Statement 64 - 67(This statement does not form part of the audited financial statements)

STATEMENT BY COMMITTEE MEMBERS

We, the Management Committee are responsible for the preparation of the accompanying financial statements of SINGAPORE INDIAN FINE ARTS SOCIETY (“Society”) that give a true and fair view in accordance with the provisions of the Singapore Societies Act (Cap. 311), the Singapore Charities Act (Cap. 37) and the Regulations enacted thereunder (together the “Acts"), the Society’s Constitution and Singapore Financial Reporting Standards. This responsibility includes:

(a) devising and maintaining a system of internal accounting controls sufficient to provide a reasonable assurance that assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised and that they are recorded as necessary to permit the preparation of true and fair statement of comprehensive income and statement of financial position and to maintain accountability of assets;

(b) selecting and applying appropriate accounting policies;

(c) making accounting estimates that are reasonable in the circumstances; and

(d) assessing the risk of fraud and communicate to the Members of the Society on outcome of those assessments.

In our opinion,

(a) the accompanying financial statements, together with the notes thereon, are properly drawn up so as to give a true and fair view of the state of affairs of the Society as at 30 June 2015 and of the results, changes in funds and cash flows of the activities of the Society for the financial year ended on that date; and

(b) at the date of this statement, there are reasonable grounds to believe that the Society will be able to pay its debts as and when they fall due.

The Management Committee authorised these financial statements for issue, on the date of this statement.

On behalf of the Management Committee

.ip ,

(P. SELVADURAI) Honorary President

.... i ' . 1.... (P v fP(S. T. KASiNATHAN)Honorary General Secretary

1 ^ / <v k *>

(NARAYANAN BALAS U BR AM AN I AN) Honorary General Treasurer

Singapore,

01 NOV 2015

i

m g i/yMGI MENON & ASSOCIATESCHARTERED ACCOUNTANTS OF SINGAPORE

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF



Report on the Financial Statements

We have audited the accompanying financial statements of SINGAPORE INDIAN FINE ARTS SOCIETY (“Society”), which comprise the statement of financial position as at 30 June 2015, and the statement of comprehensive income, statement of changes in funds and statement of cash flows for the financial year ended on that date, and a summary of significant accounting policies and other explanatory information, as set out on pages 4 to 33.

Management Committee’s Responsibility for the Financial Statements

The Management Committee’s of the Society is responsible for the preparation of financial statements that give a true and fair view in accordance with the provisions of the Singapore Societies Act (Cap. 311) , the Singapore Charities Act (Cap. 37) and the Regulations enacted thereunder (together the “Acts"), the Society’s Constitution and Singapore Financial Reporting Standards. This responsibility includes devising and maintaining a system of internal accounting controls sufficient to provide a reasonable assurance that assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised and that they are recorded as necessary to permit the preparation of true and fair financial statements and to maintain accountability of assets.

Auditor’s Responsibility

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 comply with ethical requirements and plan and perform our audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

MGI Menon & Associates 60 Robinson Road #11-01 Bank of East Asia Building

Singapore 068892 Tel:+65 6227 6123 Fax: +65 6227 2061

Email: [email protected] Website: www.ingimenon.com

MGI Menon & Associates 60 Robinson Road #11 -01 Bank of East Asia Building

Singapore 068892 Tel: +65 6227 6123 Fax:+65 6227 2061

Email: [email protected] Website: www.mgimenon.com

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF



Opinion

In our opinion, the financial statements are properly drawn up in accordance with the provisions of the Society’s Constitution, the Acts and Singapore Financial Reporting Standards so as to give a true and fair view of the financial position of the Society as at 30 June 2015, and the financial performance, changes in funds and cash flows for the financial year ended on that date.

Report on Other Legal and Regulatory Requirements

In our opinion, the accounting and other records required by the Act and the Society’s Constitution to be kept by the Society have been properly kept the provisions of the Acts.

^ y ? 4 f 1 -trx ^ J J 4 "MGI MENON & ASSOCIATES /PUBLIC ACCOUNTANTS AND CHARTERED ACCOUNTANTS

Singapore,

2 November 2015

m g jy y

^ MGI MENON & ASSOCIATESCHARTERED ACCOUNTANTS OF SINGAPORE


http://www.ingimenon.com


http://www.mgimenon.com



STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2015

NOTE 2015S$

ASSETS

NON-CURRENT ASSETS

Property, plant and equipment (4) 1,824,195

Total non-current assets 1,824,195

CURRENT ASSETS

Inventories (5) 8,600Fees receivables (6) 7,070Other receivabies (7) 144,476Deposits 30,473Prepayments 42,089Fixed deposits (8) 806,132Cash and cash equivalents (9) 175,256

Total current assets 1,214,096

TOTAL ASSETS 3,038,291

FUNDS AND LIABILITIES

General fund 2,257,818Restricted funds (10) 339,342

Total Funds 2,597,160

LIABILITIES

NON-CURRENT LIABILITIES

Term loan (11) -

CURRENT LIABILITIES

Other payables and accruals (12) 441,131Term loan (11) -

Total current liabilities 441,131

TOTAL LIABILITIES 441,131

NET FUNDS AND LIABILITIES 3,038,291

2014S$

1,870,269

1,870,269

9,52611,485

103,86022,17317,095

707,824312,517

1,184,480

3,054,749

2,080,701325,350

2,406,051

87,430

288,714272,554

561,268

648,698

3,054,749

The accompanying notes form an integral part of these financial statements.

STATEMENT OF COMPREHENSIVE INCOME

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2015

NOTE 2015 2014S$ S$

Revenue from operationsTuition, examination and administration feesSubscription and admission feesAdvertisement and sponsorshipsDonations and grantsCultural matching grant fundSale of ticketsMiscellaneous income

(13)

(14) (13-14)

(14)(13)

1,691,566101,512

9,745130,066129,66531,56617,429

1,566,726 103,160

6,934 168,325 79,819 39,752 9,801

2,111,549 1,974,517

Less: Cost of salesOpening inventories Less: Closing inventories (5)

9,526(8,600)

11,085(9,526)

926 1,559

Other incomeExpenses recovered Interest on fixed deposit Gain on disposal of asset

(13) 316,7485,562

500

287,67515,412

322,810 303,087

Less: Direct expensesSalaries and employee benefits (13) (1,193,408) (1,110,847)Depreciation (13) (81,663) (77,935)Other expenses (13-14) (563,281) (573,984)

(1,838,352) (1,762,766)

Less: indirect expensesSalaries and employee benefits (15) (314,873) (318,475)Depreciation on plant and equipment (4) (11,337) (10,370)Other operating expenses (15) (91,754) (97,084)

(417,964) (425,929)

Profit for the financial year 177,117 87,350

Other comprehensive incomeMovement in restricted funds (10)

Total comprehensive income for the financial year

13,992 (28,964)

191,109 58,386


STATEMENT OF CHANGES IN FUNDS


GeneralFund

RestrictedFunds Total

S$ S$ S$

2015

Beginning of financial year 2,080,701 325,350 2,406,051

Surplus for the financial year 177,117 - 177,117

Other comprehensive income Movement in restricted funds (Note 10) - 13,992 13,992

177,117 13,992 191,109

End of financial year 2,257,818 339,342 2,597,160

General RestrictedFund Funds TotalS$ S$ S$

2014

Beginning of financial year 1,993,351 354,314 2,347,665

Surplus for the financial year 87,350 - 87,350

Other comprehensive income Movement in restricted funds (Note 10) - (28,964) (28,964)

87,350 (28,964) 58,386

End of financial year 2,080,701 325,350 2,406,051


STATEMENT OF CASH FLOWS


NOTE 2015S$

2014S$

Cash flows from operating activities

Surplus for the financial year- General fund- Movement in restricted funds

177,11713,992

87,350(28,964)

Adjustments for:Interest income Depreciation Interest expenseGain on disposal of property, plant and equipment

191,109

(5,562)93,000

2,093(500)

58,386

(15,412)88,305

8,961

Operating cash flow before working capital changes 280,140 140,240

Chanaes in workina capital:

Inventories Fees receivableOther receivables, deposits and prepayments Accruals and other payables

9264,415

(73,910)152,417

1,559(3,043)

(49,730)1,920

Net cash generated from operating activities 363,988 90,946

Cash flows from financing activities

Interest on term loan Repayment of term loan

Net cash used in financing activities

Cash flows from investing activities

Payments to acquire property, plant and equipment (46,926) (33,197)Proceeds from disposal of property, plant and equipment 500 -Interest received 5,562 14,769(Placement) / Withdrawal of fixed deposits (98,308) 375,108

Net cash (used in) / generated from investing activities (139,172) 356,680

Net (decrease) / increase in cash and cash equivalents (137,261) 168,657

Cash and cash equivalents at beginning of financialyear 312,517 143,860

Cash and cash equivalents at end of financial year (9) 175,256 312,517


(2,093) (8,961)(359,984) (270,008)

(362,077) (278,969)

NOTES TO THE FINANCIAL STATEMENTS - 30 JUNE 2015

These notes form an integral part of and should be read in conjunction with the accompanying financial statements.

The financial statements of Singapore Indian Fine Arts Society (“Society"), for the financial year ended 30 June 2015 were authorised for issue in accordance with a resolution of the Management Committee of the Society on 2 November 2015.

1. SOCIETY INFORMATION

Singapore Indian Fine Arts Society (The “Society”) is registered under the Societies Act and the Charities Act, Cap. 37. on 16 January 1962 and 23 February 2006 respectively.

The affairs of the Society are administered by the Management Committee in accordance with its Constitution and provisions of the Societies Act Cap 311 and the Charities Act.

The registered and administrative office of the Society is at 2A, Starlight Road, Singapore 217755.

The Management Committee members of the Society are appointed according to the Society’s constitution.

During the financial year, the principal activities of the Society are as follows: -

a) to promote and strengthen the classical traditions, aesthetics and values of Indian fine arts in Singapore;

b) to promote appreciation by Singaporeans of the artistic achievements of Indian culture through high quality performances and displays of Indian fine arts; and

c) to develop the Society as a center of excellence in the teaching and the performance of Indian fine arts in Singapore.

2. BASIS OF PREPARATION

a) Statement of compliance

The financial statements have been prepared in accordance with the provisions of the Singapore Charities Act, Singapore Societies Act, Singapore Financial Reporting Standards (FRS) and the Society’s Constitution.

b) Basis of measurement

The financial statements have been prepared on the historical cost basis except as disclosed in the accounting policies that follow.

c) Functional and presentation currency

These financial statements are presented in Singapore Dollar (S$), which is the Society’s functional currency.

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

2. BASIS OF PREPARATION - continued

d) Use of estimates and judgement

The preparation of the financial statements in conformity with FRSs requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected.

Judgments made in applying accounting policies

In the process of applying the entity’s accounting policies, management is of the opinion that there are no critical judgements (other than those involving estimates) that have significant effect on the amounts recognised in the financial statements.

Key sources of estimation uncertainty

Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment within the next financial year are as discussed below:

(i) Depreciation

The Society depreciates property, plant and equipment over their estimated useful lives, after taking into account their estimated residual values, if any, using straight line method. The estimated useful life reflects the managements' estimate of the periods that the Society intends to derive future economic benefits from the use of the Society's property, plant and equipment. The residual values reflect the managements' estimated amount that the Society would currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if the asset was already of the age and in the condition expected at the end of its useful life.

(ii) Allowance for accounts receivables

The provision policy for doubtful debts of the Society is based on the ongoing evaluation of collectability and ageing analysis of the outstanding receivables and on management's judgement. A considerable amount of judgement is required in assessing the ultimate realisation of these receivables, including creditworthiness and the past collection history of each customer. If the financial conditions of debtors of the Society were to deteriorate, resulting in an impairment of their ability to make payments, allowances would be made.


2. BASIS OF PREPARATION - continued

d) Use of estimates and judgement - continued

(iii) Inventory valuation

Inventory is valued at the lower of cost or net realisable value. Cost is determined using the “first-in-first-out basis”. Net realisable value is the price at which the inventories can be realised in the normal course of business after allowing for the cost of realisation. The Society reviews its inventory levels in order to identify slow-moving and obsolete merchandise. When the Society identifies items of inventory which have a market price that is lower than its carrying amount, the Society then estimates the amount of inventory loss as allowance on inventory.

e) Changes in accounting policies

The accounting policies adopted are consistent with those of the previous year except that in the current financial year, the Society has adopted all the new and revised Standards (“FRS”) and Interpretations of FRS (“INT FRS") that are relevant to its operations and effective for the current financial year. The adoption of these new/revised FRSs and INT FRSs has not resulted in changes to the Society’s accounting policies and has also no material effect on the amounts reported for the current or prior year’s financial statements.

3. SIGNIFICANT ACCOUNTING POLICIES

The accounting policies set out in the following paragraphs have been applied consistently to both periods presented in these financial statements, and have been applied consistently by the Society, except as explained in Note 2(e), which addresses changes in accounting policies.

a) Property, Plant and Equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any,

Cost includes purchase price and expenditure that is directly attributable to the acquisition of the asset.


3. SIGNIFICANT ACCOUNTING POLICIES - continued

a) Property, Plant and Equipment - continued

Depreciation is calculated on the straight line method over the estimated useful lives as follows:-

Property Computers Furniture and fittings Musical instruments Office equipment Audio equipment Renovation Sound system Refurbishment

50 years 1 - 3 years 5 years 5 years 5 -8 years 5 years 5 years 5 years 5 years

The residual values and useful lives of property, plant and equipment are reviewed and adjusted as appropriate at each reporting date.

On disposal of an item of property, plant and equipment, the difference between the net disposal proceeds and its carrying amount is taken to the income statement. Any amount in revaluation reserve relating to that asset is transferred to retained earnings.

Assets acquired during the financial year are charged with depreciation as of the acquisition date. Depreciation is charged till the date of disposal for the year in which an asset is sold. Fully depreciated assets are retained in the financial statements until they are no longer in use.

b) Inventories

Inventories are stated at the lower of cost and net realisable value where cost is on “first-in-first-out basis”. Provision is made where necessary, for obsolete, slow moving and defective or damaged items.

c) Financial instruments

i) Non-derivative financial assets

The Society initially recognises loans and receivables and deposits on the date that they are originated. All other financial assets (including assets designated at fair value through profit or loss) are recognised initially on the trade date, which is the date that the Society becomes a party to the contractual provisions of the instrument.



c) Financial instruments - continued

i) Non-derivative financial assets - continued

The Society derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Any interest in transferred financial assets that is created or retained by the Society is recognised as a separate asset or liability.

Financial assets and liabilities are offset and the net amount presented in the statement of financial position when, and only when, the Society has a legal right to offset the amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.

The Society classifies non-derivative financial assets into the following categories: financial assets at fair value through profit or loss, held-to-maturity financial assets, loans and receivables and available-for-sale financial assets.

The Society only has loans and receivables.

Loans and receivables

Loans and receivables are financial assets with fixed or determinable payments that are not quoted in an active market. Such assets are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, loans and receivables are measured at amortised cost using the effective interest method, less any impairment losses.

Loans and receivables comprise fees and other receivables, deposits and cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at banks and cash in hand.



c) Financial instruments - continued

ii) Non-derivative financial liabilities

The Society initially recognises debt securities issued and subordinated liabilities on the date that they are originated. All other financial liabilities (including liabilities designated at fair value through profit or loss) are recognised initially on the trade date, which is the date that the Society becomes a party to the contractual provisions of the instrument.

The Society derecognises a financial liability when its contractual obligations are discharged, cancelled or expire.

Financial assets and liabilities are offset and the net amount presented in the statement of financial position when, and only when, the Society has a legal right to offset the amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.

The Society classifies non-derivative financial liabilities into the other financial liabilities category. Such financial liabilities are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, these financial liabilities are measured at amortised cost using the effective interest method.

Other financial liabilities comprise term loan, other payables and accruals.

d) impairment

(i) Non-financial Assets

The carrying amounts of non-financial assets, other than inventories, are reviewed at each reporting date to determine whether there is any indication that these assets may be impaired. If any such indication exists, the recoverable amount of the asset is estimated to determine the amount of impairment loss. For the purpose of impairment testing of these assets, the recoverable amount is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of the cashgenerating-unit to which the asset belongs.



d) Impairment - continued

(i) Non-financial Assets - continued

If the recoverable amount of an asset (or cash-generating-unit) is estimated to be less than its carrying amount, the carrying amount of the asset (cash- generating-unit) is reduced to its recoverable amount. The impairment loss is recognised in profit or loss unless the asset is carried at revalued amount, in which case, such impairment loss is treated as a revaluation decrease in equity/ funds.

Where an impairment loss subsequently reverses, the carrying amount of the asset (cash-generating-unit) is increased to the revised estimate of its recoverable amount, so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash-generating-unit) in prior years. A reversal of impairment loss for an asset is recognised in profit or loss, unless the asset is carried at revalued amount, in which case, such reversal is treated as a revaluation increase in equity/ funds.

(ii) Non-derivative financial assets (including loans and receivables)

A financial asset is assessed at each reporting date to determine whether there is any objective evidence that it is impaired. A financial asset is considered to be impaired if objective evidence indicates that one or more events have had a negative effect on the estimated future cash flows of that asset.

An impairment loss in respect of accounts and other receivables is established when there is objective evidence that the Society will not be able to collect all amounts due according to the original terms of the receivables. The amount of the impairment loss is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the original effective interest rate.

individually significant financial assets are tested for impairment on an individual basis. The remaining financial assets are collectively tested in groups that share similar credit risk characteristics.

All impairment losses are recognised in profit or loss.

impairment losses in respect of accounts and other receivables are reversed through profit or loss if the subsequent increase in fair value can be related objectively to an event occurring after the impairment loss was recognised.



e) Fund Accounting

Monies received for specific purposes, including transfers from the general fund, are credited directly to the respective fund in the financial statements. These include restricted funds and unrestricted funds. Restricted funds are funds held by the Society that can only be applied for specific purposes. These funds are subject to specific trusts which may be declared by the donors or with their authority or created through legal process but are still within the wider objects of the Society.

Income and expenditure relating to specific funds are accounted for directly in the funds to which they relate. Common expenses, if any, are allocated on a reasonable basis to the funds based on a method suitable to this common expense. Assets and liabilities of the specific funds are pooled in the statement of financial position.

Funds received for specific purposes such as purchase of depreciable assets are taken to relevant restricted fund account. This relevant fund will be reduced over the useful life of the asset in line with its depreciation. Depreciation is charged to the relevant designated funds in respect of the asset acquired.

f) Funds

(i) General Fund

This fund is to be used at the discretion of the Management Committee in furtherance of the Society’s objects.

(ii) Restricted Funds

Building and Renovation Fund

The Building Fund is established from donations received from donors for the purpose of acquisition and renovation of building.

Scholarship and Bursary Funds

This fund is made up of donations from members and non-members intended to subsidise tuition fee of needy students.



f) Funds - continued

00 Restricted Funds - continued

Sinking Fund

The Sinking Fund was set up for the maintenance and renovation of the building based on the requirement of National Arts Council (NAC). NAC started invoicing the amount on a monthly basis and requested payment of accumulated amounts relating to previous years. With this change, the appropriation to Sinking Fund on annual basis has been ceased and the invoiced amount is charged to Income & Expenditure under the “Contribution towards sinking fund - NAC."

g) Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Society and the revenue can be reliably measured.

The following specific recognition criteria must also be met before revenue is recognised:

(i) Tuition fees

Tuition fees are recognised on accrual basis when the services are rendered. Tuition fees are collected monthly from students when they attend the class. Income other than tuition fees are recognised in the financial statements on a receipt basis.

(i) Government grants

Revenue grants are recognised as income when there is reasonable assurance that the grant will be received.

(ii) Donations

Donations are recognised as income on a receipt basis.



h) Provisions

Provisions are recognised when the Society has a present obligation as a result of a past event where it is probable that it will result in an outflow of economic benefits that can be reasonably estimated. Provisions are measured at management’s best estimate of the expenditure required to settle the obligation at the reporting date, and are discounted to present value where the effect is material.

i) Employee Benefits

Defined Contribution Plan

As required by law, the Society makes contributions to the Central Provident Fund (CPF), a defined contribution plan regulated and managed by the Government of Singapore. CPF contributions are recognised as expense in the same year to which the contribution relates.

Short-Term Benefits

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognised for the amount expected to be paid under short-term employee benefits if the Society has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the obligation can be estimated reliably.

Employee Leave Entitlement

Employee entitlements to annual leave are recognised when they accrue to employees. A provision is made when the estimated liability for annual leave is incurred as a result of services rendered by employees up to the reporting date.

j) Lease payments

Payments made under operating leases are recognised in profit or loss on a straight- line basis over the term of the lease. Lease incentives received are recognised as an integral part of the total lease expense, over the term of the lease.

Minimum lease payments made under finance leases are apportioned between the finance expense and the reduction of the outstanding liability. The finance expense is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability.



j) Lease payments - continued

Contingent lease payments are accounted for by revising the minimum lease payments over the remaining term of the lease when the lease adjustment is confirmed.

Determining whether an arrangement contains a lease

At inception of an arrangement, the Society determines whether such an arrangement is or contains a lease. This will be the case if the following two criteria are met:

i) the fulfilment of the arrangement is dependent on the use of a specific asset or assets; and

ii) the arrangement contains a right to use the asset(s).

At inception or upon reassessment of the arrangement, the Society separates payments and other consideration required by such an arrangement into those for the lease and those for other elements on the basis of their relative fair values.

If the Society concludes for a finance lease that it is impracticable to separate the payments reliably, then an asset and a liability are recognised at an amount equal to the fair value of the underlying asset. Subsequently, the liability is reduced as payments are made and an imputed finance charge on the liability is recognised using the Society's incremental borrowing rate.

k) Income Tax

As the Society is exempt from income tax, pursuant to Section 13(1) (zm) of the Income Tax Act, Cap. 134, the Society’s income is not subject to any tax.

I) New standards and interpretations not adopted

The Society has not early adopted any of the FRSs, INT FRSs and amendments to FRS that were issued but not yet effective at the beginning of the financial year. Management expects that the adoption of these other standards and interpretations will have no material impact on the financial statements in the financial period of initial application.

05 © c ^ o o c " cn wcm cm co © o r co cn7g ^ cn $ cn o ® n-_ ▼“X Q> cd _»r t- r o n o s MfO *D N- S- CM O OJ s cn INK- M- to (D CD 00

CM CM T-"*■> -—-C T- T-Ef » . . .Im.3<E©Q£

-Pi c 0 0 - - - 0 05 oo .—* n- co~ £ CM O O CM 00 in O ^ N-~ “J o ID O T- 05 in O r- 05g W CD r f r t N -M-" ID 'K 00 COyj > ID CM ID Mf CM

E 0 5 0 0 CM Mf ID CO.2 CM CM Ml" M" ID 05 w*- CM Mf CO 05 r- O ID> Mf CO , K N-' O* , OO WO CD 00 00 00 CO r- COC ^ ^ T_©

c 05 cn CD 00 ,?t ID_a) id in o c o M T f~.2 c 00 co r-~ t- co ©13 O m CO « t CO 05 CD I CM Mfr. 3 .B <3> CO CO t- CM T~

r < 3r- *©* om c o>±! o0 co c °> £ £ £ gQ c 5 85 2 N- ID in r~W m j= o ^ in , , in -̂' , , t-'m — Jr: fc .S <D CM ' * CM CM CMh S * ° gE s i sit-1 o. *2 CM O CM N- r- 00LUCOnt — r- ON- N. ID r- CO OCM ££ TO <jj 05 05 00 05 CM t- N-E M ® I ! « 3 ■ 8 f t " - ' ■ 8

1 I ■£ = I> .Er% zs 2■y Z ® © 05M1-0-CO t— CO CO CO ID

3 £ £ £ § 2 p 2 8 2 2. . . m o 3 © ° t ' t ® S **1 t :UJ =s 0 c E •£ C/J CM CM * CM OO ID * CM OfV (V £re±i » D C. 1* N T- C 'S' N-r: 3 c CM CO CM CMt? & u.(L .2 _

0 LU S2 O T- t- N- CD CO Tj-tn rn -*> © n- co in m- 05 m cn1 2 t— 05 r- 0O CM 00 CM5 s ~ Q ^ K oo' , CO COO , 2 o'I— p lD Q5 o 05 r- 05 r-

0 °O k °

1 Z o O 05 CO CM 00m LU JS CO CO CD O Is- OOP g t : r - r - C O f S COZ CL q ^ id' . i »n t-“ in i <o oom “ o W 10 ID N- CO O mFig D 2 N-_ N-_ ▼ ■ C D?f O CL r-~ t- r»Hf LU< 9 5 C CDCD < O CD1 . CD «5 CD >>d *z 0 TO 0 _— 1? ^ *- ‘p ^ .2 «- v.^ 5 1 S 8 ? . 2 £ S 2< c ^ 8 E g ^ >z >-' g ro Q g ©= .2 o 2LL rr hZ O -o 1£= 0 O _3 Ohi Q« C (j) 'f- C (R C^ LU o TO ° TO ^ «f CL O) £ — C ^ O ^ . E , * ^f~ q c S 2 0 n ~e g . - i i i i i h i 5 ! °m v- c0a>"a— 10 o o) to E ^ t tof® o O 0 T o - t c o 0 x: ^ c r a cUJ ° O CD < 5 Uj < CQ O 5 UJ O LUoz Mi-


4. PROPERTY, PLANT AND EQUIPMENT - continued

Details of the freehold property held by the Society are as follows:

At Cost

Location Tenure 2015 2014S$ S$

103 Rangoon Road 03-01Singapore 218386 Freehold 1,755,160 1,755,160

Carrying Value

2015 2014S$ S$

1,648,388 1,683,491

The freehold property is registered in the name of M Bala Subram an ion and Natarajan Varaprasad, trustees of the Society.

INVENTORIES

2015S$

2014S$

Depreciation charge for the financial year is allocated as follows:

Academy working account Office account

81,66311,337

93,000

77,93510,370

88,305

2015S$

Music books 8,600

Cost of inventories is recognised as an expense in profit and loss amounted to S$926/- (2014: S$1,559/-)

2014S$

9,526

6. FEES RECEIVABLES

Fees receivables are non-interest bearing and are generally paid by 7th of the month.

Concentration of credit risk relating to fees receivables is limited due to the Society’s varied students.

51

CN t ^ rV 02 O I L O C D ^ T O 05cm CD o S cm co o co S co CO

_ ir> T- T-_ ^ N- CO LO “2 *- cmiS «> cm" co in" *■ O) in oo" co" - 0" o"O CO O CO ID I : h> 05 00 CO ZZ O h -h- f'- ZZ* ^ C. co CO

T- cm" T~"

^ y y » y .

c03|| j « . . . . . .o

H—03cc.

-n C O o "O' in 05 T-2 2 CM CM 00 O CO CO

C5 , , , O CO CO , , 05 oo ^ W co co" os" in" 'sf oo"W ^ in co

5 05 05 ^ CO CM K.2 CM CM "vf 05 "3- COm CH CM CM CO 05 CM> y* I t . ■'t 00 03 , , N to"O W 00 00 to CM 00 05c T~ T—CDDCC CO r- 03 0 ( 0 CO CO

- 0) v-^- in co m - o in.2 c ^ oo r-̂ 05 n - t~"S Q m CM -sf • i CO" N-" r-" . . 05 N."3 - = UJ CM T— CO T— T- T—

C_ — oc £t-S O 0 03 h- O h- CMO O . 2 T~ t- C O - ^ - N . ^X 0 0 “; n - co cm in r-

° | e l s a • • • s sf • ■ siC D ? * 0 I

co ° 03£< g f S ? 5 & Z 8 f fc 3ujwg- g g S5 5 3. ® ®.

'8 | . S 3 ■ S £ ®C co® | S ”Z © C c< ■2 —_ E T3Q - 3 ir o g> m or- 03 T - t n r r - T - oo^ Z 0 b w 03 T- S CO N- M" 2 ^ 05- z “ a -O o y.O K 5 n CM. ® 3 ■» oou. w g> 'e I i « i e j s ' e s s P ' s S sQ£ cilX O i 4= CM CM CM CMo *n 0 -n3 r o Q o £2 S ^ ^ P o oo ;r ^ co^ O LLi 3 0 CO CM IT N- CM r- m ^ CM0 w 3 c B ^ **1 8 ^ o g CD COz < Z *= q (% SS fc co t- > ^ co co

w z 8 |o i °V t » o o co CO 0 r~I Z + - C O C O O CO CO 0

0) UJ 0 r- T“ T - i n c O ' s fH- S 2 Yn . i cn" , in . wo‘ co , r-" co"Z cl o w m m co co h- oom = d; h. <q

Iff S |< Qa s & 0 ro cOT < » - c f- 1 - 0 0-! h- g £ o $§ I f 1 l i l| s! 1 - S 1 E S - S S1 i s ^ § | i g E ^ fU> E Q I f f l S .5 0 0X Ul O -O m ^h - & ^3 co *E C — ? m£ y= *5 c ^ cL" O .2 c w r ° y= 3 .£ « >. ° «= a <£O OC c o ID 0 2 •*=; C C 2 s « ’C C ' < = c H_H Q. ° § C g3_0 0 © ° > 00) r- S 0 >T3 O 2 P Xl O 0 0 O g-S T3 b X3|f! ^ 3 O iS < tS (3 5z 50

5.


7. OTHER RECEIVABLES

2015 2014s$ s$

Cultural Matching Fund (CMF) grant receivables* 113,650 79,819Other receivables 13,609 5,179Music festival receivables 17,217 18,862

144,476 103,860

* This amount represents grant approved by the National Arts Council on 27 July 2015 and subsequently received on 29 September 2015.

8. FIXED DEPOSITS

Fixed deposits yield interest ranging from 1.05% to 1.10% (2014: 1.08% to 1.10%) per annum and have tenures of approximately 365 days (2014 - 365 days).

9. CASH AND CASH EQUIVALENTS

2015 2014s$ s$

Cash at banks 173,868 311,527Cash in hand 1,388 990

175,256 312,517


renovation Scholarship Bursaryfund fund fund TotalS$ S$ S$ S$

As at 01 July 2013 278,248 9,328 66,738 354,314

Donation / Funds received -

Utilisation of funds - (70) (28,894) (28,964)

- (70) (28,894) (28,964)

As at 30 June 2014 278,248 9,258 37,844 325,350

Grants received - . -

Donation / Funds received - 1,002 35,000 36,002Utilisation of funds - - (22,010) (22,010)

- 1,002 12,990 13,992

As at 30 June 2015 278,248 10,260 50,834 339,342

10. RESTRICTED FUNDS

11. TERM LOAN

2015 2014s$ s$

Term loan - 359,984

The maturity profile of the term loan is as follows:

CurrentWithin one year - 272,554

Non-Current

Between 2 and 5 years - 87,430After 5 years

87,430

359,984

6. FEES RECEIVABLES - continued

The ageing analysis of fees receivables as at the reporting date is:

Impairment ImpairmentGross losses Gross losses

2015 2015 2014 2014s$ s$ s$ s$

Not past due 7,070 - 11,485


11. TERM LOAN - continued

Terms and debt repayment schedule

Terms and conditions of outstanding term loan are as follows:

2015 2014

Currencv Interest*%

Year of maturitv

Fairvalue

S$

Carryingamount

S$

Fairvalue

S$

Carryingamount

S$

SGD 1.62 2016 - . 363,220 359,984

* In 2014, Interest rate is computed based on 1.25% + one month SIBOR.

The term loan of $700,000 was obtained to acquire freehold property at 103 Rangoon Road #03-01 Singapore 218386. The term loan is repayable over 120 monthly instalments commencing from 25 July 2012.

The term loan facility is secured by the freehold property at 103 Rangoon Road #03-01 Singapore 218386.

The term loan has fully repaid in May 2015.

12. OTHER PAYABLES AND ACCRUALS

Fee deposit Other payables AccrualsDue to National Arts Council Tutors’ retention money Due to tutors Contribution for welfare

GST payableTuition fees received in advance

2015 2014S$ S$

144,241 120,82696,400 42,90379,704 48,71645,000 -

24,200 23,1009,887 5,840- 8,500

399,432 249,885

17,410 23,04324,289 15,786

441,131 288,714


13. ACADEMY WORKING ACCOUNT

2015 2014S$ S$

Income

Tuition, examination and administration fees 1,691,566 1,566,726Subscription and admission fees 101,512 103,160Cultural matching grant fund 129,665 79,819Donations* 23,583 21,650Miscellaneous income 16,278 9,801

1,962,604 1,781,156

* The donations were received mainly for the purpose of defraying general expenditure relating to academy operations and promote Indian Arts and culture.

Less: Cost o f sales 926 1,559

Other income

Expenses recovered 316,748 287,675Interest on fixed deposit 5,562 15,412Gain on disposal 500 -

322,810 303,087

Less: Expenses

Salaries and employee benefits

Salaries 1,009,467 945,230CPF contribution 2,474 6,290Foreign worker levy 90,048 74,573Medical expenses 10,169 11,368Staff welfare 81,251 73,386

1,193,408 1,110,847

Depreciation 81,663 77,935

Term loan


13. ACADEMY WORKING ACCOUNT - continued

2015 2014S$ S$

Other operating expenses

Academy day expenses 36,112 37,401Advertisement 2,410 3,113Affiliation fees 6,569 6,280Building maintenance 106,264 87,013Contribution towards sinking fund - NAC 10,836 11,671Examination expenses 23,072 23,265Insurance 1,383 1,845Performances 14,779 24,243Printing, postage and stationery 4,372 5,929Promotional and publicity expenses 1,474 7,483Purchase of teaching materials 4,049 2,533Refreshments 3,452 2,957Rent of office equipment 3,648 3,648Rent of premises 23,781 23,781Rent - accommodation of tutors 87,584 50,594Repair and maintenance - musical instruments 300 3,345Sundry expenses 4,700 6,065Telephone 9,249 8,894Transport and traveling 10,055 14,715Tuition fee rebate 13,314 23,638Utilities 41,884 46,719Webhosting & Maintenance 18,130 8,554

427,417 403,686

Total expenses 1,702,488 1,592,468

Surplus incorporated in statement ofcomprehensive income 582,000 490,216


14. MUSIC AND DANCE FESTIVAL

2015 2014S$ S$

Income

Sale of tickets 31,566 39,752Donations and grants 106,483 146,675Advertisements and sponsorships 9,745 6,934Miscellaneous income 1,151 -

148,945 193,361

Less: Expenses

AdvertisementArtists’ accommodationArtists’ and judges’ remunerationCommission to EsplanadeCostumesHire of furnitureHall rent and booking chargesInsuranceMeals and refreshments Printing charges SalarySI STIC charges Sundry expenses Tickets to sponsors Traveling expenses

14,117 12,1704,420 1,463

29,692 30,6737,380 12,805- 3,4768,500 10,300

23,129 42,619350 500

5,024 7,33913,631 10,997

5,969 7,6275,214 5,1417,392 11,683

11,046 13,505

135,864 170,298

Surplus incorporated in statement of comprehensive income 13,081 23,063


15. INDIRECT EXPENSES

2015 2014s$ s$

Salaries 262,373 264,690CPF contribution 29,646 32,597Medical expenses 2,542 2,842Staff welfare 20,313 18,346

314,873 318,475


AGM expenses 3,126 2,789Audit fees 4,000 4,000Bank charges 427 349Building maintenance 26,566 21,753Contribution towards sinking fund - NAC 2,709 2,918Conference/seminar expenses 7,701 6,057General expenses - 5,345Insurance 346 461Maintenance fee 3,240 3,168NETS commission and charges 4,934 4,614Other professional charges 2,000 1,000Printing and stationery 4,372 5,929Property tax 2,880 2,880Refreshments 862 739Rent of premises 5,945 5,945Rental of office equipment 912 912Repairs and maintenance - office equipment 5,287 3,170Sundry expenses 1,175 1,516Telephone charges 2,317 2,224Term loan interest 2,093 8,961Transport and travelling 391 404Utilities 10,471 11,680Valuation fee - 270

91,754 97,084



16. FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT

Accounting classifications and fair values

Fair values versus carrying amounts

Other TotalLoans and Financial Carrying Fair

Note Cash Receivables liabilities amount ValueS$ S$ S$ S$ S$

2015

Fees receivables (6) 7,070 . 7,070 7,070Other receivables (7) - 144,476 - 144,476 144,476Deposits - 30,473 - 30,473 30,473Fixed deposits Cash and cash

(8) “ 806,132 806,132 806,132

equivalents (9) 1,388 173,868 - 175,256 175,256

1,388 1,162,019 - 1,163,407 1,163,407

Other payables andaccruals (12) ■ - 399,432 399,432 399,432

- - 399,432 399,432 399,432

2014

Fees receivables (6) _ 11,485 - 11,485 11,485Other receivables (7) - 103,860 103,860 103,860Deposits - 22,173 - 22,173 22,173Fixed deposits Cash and cash

(8) “ 707,824 707,824 707,824

equivalents 0 ) 990 311,527 - 312,517 312,517

990 1,157,859 - 1,157,859 1,157,859

Term loan Other payables and

(11) - - 359,984 359,984 359,984

accruals (12) - - 249,885 249,885 249,885

- - 609,869 609,869 609,869

Financial Risk Management Objectives and Policies

The Society’s overall risk management programme seeks to minimise potential adverse effects on the financial performance of the Society.


16. FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT - continued

a) Credit risk

Credit risk is the risk of financial loss to the Society if a counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Society’s amount due from related party, deposits and other receivables, amount due from other divisions and bank balances.

Credit risk is the risk of financial loss to the Society if a counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Society’s fees receivables, other receivables and deposits, fixed deposits and cash at banks.

As at the reporting date, the Society’s maximum exposure to credit risk is as follows:

2015 2014s$ s$

Fees receivables 7,070 11,485Other receivables and deposits 174,949 126,033Fixed deposits 806,132 707,824Cash and cash equivalents 175,256 312,517

1,160,407 1,157,859

Funds are placed with licensed banks in Singapore. Tuition, examination and administration fees are normally collected in advance.

b) Liquidity risk

The Society monitors and maintains a level of cash and bank balances considered adequate by the management to finance the Society’s operations and mitigate the effects of fluctuations in cash flows. Below is the maturity analysis of financial liabilities:

2015

Financial liabilities

Other payables

Carryingamount

S$

Contractual cash flows

S$

Due within 1 vear

S$

More than

1 vear S$

TotalS$

and accruals 399,432 399,432 399,432 - 399,432



a) Liquidity risk - continued

Carryingamount

Contractual cash flows

Due within 1 vear

More than

1 vear TotalS$ S$ S$ S$ S$

2014

Financial liabilities

Term loan 359,984 363,220 274,847 88,373 363,220Other payables andaccruals 249,885 249,885 249,885 - 249,885

609,869 613,105 524,732 88,373 613,105

b) Market risk

Market risk is the risk that changes in market prices, such as interest rates, foreign exchange rate and equity prices will affect the Society’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk.

i) Foreign Exchange Risk

The Society is not exposed significantly to risk associated with foreign currency exchange rate fluctuations as all bank balances are maintained in S$ and transactions are substantially carried out in S$.

ii) Interest Rate Risk

The Society’s exposure to market risk for changes in interest rates relates to bank balances placed with licensed banks.

Interest rate details for fixed deposits have been disclosed in Note 8.

The only significant financial instruments that are subject to interest rate fluctuations are the fixed deposits.



a) Market risk - continued

ii) Interest Rate Risk - continued

Sensitivity analysis

A 50 basis point increase or decrease in the interest rates will increase or decrease respectively the profit of the Society by approximately S$28/- (2014 : S$77).

17. DETERMINATION OF FAIR VALUES

Fair value is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction. There are no differences between the fair values of both financial and non-financial assets and liabilities and their respective carrying values as recorded in the statement of financial position due to their short-term nature or as disclosed in the notes specific to that asset or liability.

Financial assets and financial liabilities

The carrying amounts of cash and cash equivalents, fixed deposits, trade and other current receivables, trade and other payables and other liabilities approximate their respective fair values due to the relatively short-term maturity of these financial instruments. The term loan is at floating interest rate and therefore the carrying value approximates the fair value at the reporting date.

The fair values of financial assets and liabilities are disclosed in Note 16.

18. COMMITMENTS

As at year end, the Society had the following lease commitments in respect of rental of premises:

Within 1 year Between 2 and 5 years

2015 2014s$ s$

76,666 52,80616,460 20,500

93,126 73,306


19. COMPARATIVE

Certain comparatives relating to the prior year as inventory consumed have been restated to conform to current year’s presentation.

20. AUTHORISATION OF FINANCIAL STATEMENTS

These financial statements were authorised for issue in accordance with a resolution of the Management Committee on 2 November 2015.

DETAILED INCOME STATEMENT


2015 2014S$ S$

Academy Working Account

IncomeTuition, examination and administration fees 1,691,566 1,566,726Subscription and admission fees 101,512 103,160Cultural matching grant fund 129,665 79,819Donations* 23,583 21,650Miscellaneous income 16,278 9,801

1,962,604 1,781,156

* The donations were received mainiy for the purpose of defraying general expenditure relating to academy operations and promote Indian Arts and culture.

Less: Cost of sales 926 1,559

Other income

Expenses recovered 316,748 287,675Interest on fixed deposit 5,562 15,412Gain on disposal 500 -

322,810 303,087

Less: Expenses

Salaries and employee benefitsSalaries 1,009,467 945,230CPF contribution 2,474 6,290Foreign worker levy 90,048 74,573Medical expenses 10,169 11,368Staff welfare 81,251 73,386

1,193,408 1,110,847


Other operating expensesAcademy day expenses 36,112 37,401Advertisement 2,410 3,113Affiliation fees 6,569 6,280Building maintenance 106,264 87,013Contribution towards sinking fund - NAC 10,836 11,671Examination expenses 23,072 23,265Insurance 1,383 1,845

186,646 170,588



65

2015 2014s$ s$

Balance brought forward 186,646 170,588

Performances 14,779 24,243Printing, postage and stationery 4,372 5,929Promotional and publicity expenses 1,474 7,483Purchase of teaching materials 4,049 2,533Refreshments 3,452 2,957Rent of office equipment 3,648 3,648Rent of premises 23,781 23,781Rent - accommodation of tutors 87,584 50,594Repair and maintenance - musical instruments 300 3,345Sundry expenses 4,700 6,065Telephone 9,249 8,894Transport and traveling 10,055 14,715Tuition fee rebate 13,314 23,638Utilities 41,884 46,719Webhosting & Maintenance 18,130 8,554

427,417 403,686

Total expenses 1,702,488 1,592,468




2015 2014S$ S$

Music and dance festival

Income

Sale of tickets 31,566 39,752Donations and grants 106,483 146,675Advertisements and sponsorships 9,745 6,934Miscellaneous income 1,151 -

148,945 193,361

Less: Expenses

Advertisement 14,117 12,170Artists’ accommodation 4,420 1,463Artists' and judges’ remuneration 29,692 30,673Commission to Esplanade 7,380 12,805Costumes - 3,476Hire of furniture 8,500 10,300Hall rent and booking charges 23,129 42,619Insurance 350 500Meals and refreshments 5,024 7,339Printing charges 13,631 10,997Salary 5,969 7,627SISTIC charges 5,214 5,141Sundry expenses 7,392 11,683Tickets to sponsors .

Traveling expenses 11,046 13,505

135,864 170,298

Surplus incorporated in statement of comprehensiveincome 13,081 23,063



2015 2014s$ s$

Indirect expenses

Salaries 262,373 264,690CPF contribution 29,646 32,597Medical expenses 2,542 2,842Staff welfare 20,313 18,346

314,873 318,475


AGM expenses 3,126 2,789Audit fees 4,000 4,000Bank charges 427 349Building maintenance 26,566 21,753Contribution towards sinking fund - NAC 2,709 2,918Conference/seminar expenses 7,701 6,057Genera! expenses - 5,345Insurance 346 461Maintenance fee 3,240 3,168NETS commission and charges 4,934 4,614Other professional charges 2,000 1,000Printing and stationery 4,372 5,929Property tax 2,880 2,880Refreshments 862 739Rent of premises 5,945 5,945Rental of office equipment 912 912Repairs and maintenance - office equipment 5,287 3,170Sundry expenses 1,175 1,516Telephone charges 2,317 2,224Term loan interest 2,093 8,961Transport and travelling 391 404Utilities 10,471 11,680Valuation fee - 270

91,754 97,084

Total indirect expenses 417,964 425,929

NOTES NOTES

Singapore Indian Fine Arts Society [SIFAS]. Established in 19492A Starlight Road. Singapore 217755

Tel: 62995929. Fax: 62951238 Email: [email protected] Website: www.sifas.org

Facebook: https://www.facebook.com/sifas.org



https://www.facebook.com/sifas.org

(Established 1949) Annual Report 2015 · Approved by Registrar of Societies: Letter ROS 0110/49...

Documents

Transcript of (Established 1949) Annual Report 2015 · Approved by Registrar of Societies: Letter ROS 0110/49...