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Reserve PolicyThe reserves of the association provide financial stability and the means for the development of the association%u2019s activities. The association has a target reserve ratio of one (1) and will strive to work towards maintaining this ratio by engaging in approved activities that are accretive to its bottom line. The Management Committee reviews the level of reserves at the bi-monthly meetings to ensure the ratio is maintained at 1.Total unrestricted funds$3,278,6012024$2,915,6002023Ratio of reserves to total operating expenditure1.0720241.032023Disclosure Of Key Remuneration Under the revised Code of Charities and IPCs 2017, it is recommended that charities disclose the remuneration of the three highest paid staff who each received remuneration exceeding $100,000, in bands of $100,000. SIAS has chosen to disclose the staff remuneration above $100,000 in bands of $50,000.Bands$350,001 - $400,000$300,001 - $350,000$250,001 - $300,000$200,001 - $250,000$150,001 - $200,000$100,001 - $150,0002024010001Auditors Internal Auditor: Shared Services for Charities (first appointed 2018) External Auditor:RSM SG Assurance LLP (first appointed 2015) Audit Partner: Tan Wei Ling (w.e.f 5 June 2020)Disclosure Of Overseas Expenditure There were no expenses incurred for any overseas travel.4225TH ANNUAL REPORT | 2023 - 2024