For the financial year ended 31 March 2024
UEN: T03CC1740J | Charity Registration Date: 15 November 2003IPC Status: Valid till 31 March 2027 | Registered Address: 9 Woodlands Avenue 9, Singapore 738964
The appointment of the Management Committee shall be for a term of two years and will be renewable at the end of 2 years by RP’s Polytechnic Management Meeting (PMM). The maximum term limit for all members is 10 consecutive years and for the Treasurer is four consecutive years.
The current committee has been appointed for the term from 1 January 2023 to 31 December 2024.
For the financial year ended 31 March 2024, there were three meetings held:
Conflict of Interest Policy
Upon assuming their appointment, the committee members of RPEF are required to read and understand the conflict of interest policy as prescribed under the Code of Governance guideline for Charities and Institutions of a Public Character. They are also required to make full disclosure of any interest and relationship that could potentially result in conflict of interests in the course of operation. When conflict of interest situation arises, the affected member(s) shall abstain from discussion, decision making and voting of such transaction.
Remuneration Policy
RPEF does not remunerate the committee members for their services rendered to RPEF.
Reserves Policy
Donations received are well defined by various donors to be executed for specific purposes which include scholarships, bursaries, book prizes, the Student Emergency Money Scheme (SEMS) and the Student Pocket Money Scheme (SPMS).
RPEF does not set aside reserves. In the event that a donation is not utilised in the current financial year, the donation will be carried forward to the subsequent financial year(s) to be utilised for the same purpose.
For the financial year ended 31 March:
1 Unutilised non-endowed donation and interest income carried forward to new financial year2 Disbursement and expenses as supported/specified by donors
Compliance with Code of Governance
In line with the disclosure requirements by the Charity Council, the Governance Evaluation Checklist of RPEF disclosing the extent of its compliance with the Code can be found at the Charity Portal website www.charities.gov.sg.
Through the Polytechnic’s corrective action policy, any concerns raised on possible wrongdoings will be independently investigated and appropriate corrective actions will be taken.
During the financial year, RPEF’s funding sources comprised donations from individuals, organisations, foundations, and interest income generated from endowment funds.
RPEF awarded various scholarships, bursaries, book prizes and other financial assistance to deserving Republic Polytechnic (RP) students.
The table below shows the number of disbursements made out of RPEF for the financial year ended 31 March 2024.
Scholarships
Scholarships are awarded to RP students based on merits of their academic and co-curricular activity achievements.
Bursaries
Bursaries are awarded to RP students who come from low-income families. The gross household income, number of family members in the household, and special needs or medical challenges are taken into consideration when RP evaluates the applications.
Book Prizes
Book prizes are awarded to RP students who have excelled in their studies.
Student Emergency Money Scheme
SEMS aims to provide compassionate assistance to needy RP students from low-income families. It is intended to assist needy students during times of crisis by providing financial support where a clear need exists such as sudden death or hospitalisation of the family members of the needy students.
Student Pocket Money Scheme
SPMS aims to support needy RP students from low-income families who are struggling with their daily expenses on transportation or meals in school.