“Did you know that surpluses from gaming revenue build Singapore?” That is what the Tote Board does. We stand here before an organization deeply woven into Singapore’s social fabric. The Tote Board is a statutory board. It operates under the Ministry of Finance. It was established on January 1 1988.
The Tote Board is a grantmaking organization. It supports a resilient community through its grants. The Tote Board channels surpluses. These come from Singapore Pools and Singapore Turf Club. The Tote Board also collects casino entry levies. This money supports worthy causes in the community.
The Tote Board envisions a caring Singapore. Its mission involves investing in Singapore’s future. This happens through effective fund management. The Tote Board ensures its subsidiaries act responsibly. This responsibility extends to business practices.
Look at the logo. It reflects the Tote Board’s values. The lowercase font shows friendliness. The crescent forms a smile. It symbolizes caring and joy. Blue represents trustworthiness. Orange glows with warmth. Together they show an approachable organization that values people.
The Tote Board acts as a grantmaker. It supports community projects. These projects align with strategic outcomes. They include healthy lives and empowered communities. They foster a caring society. They help create a sustainable home.
The Tote Board is a trusted partner. It supports the success of its grantees. It invests in long-term partnerships. It provides reliable grants. This allows partners to focus on their communities. The Tote Board enhances grantee performance. It ensures relevance and good governance.
The Tote Board promotes responsible gaming. It works with the Gambling Regulatory Authority. The goal is to reduce illegal gambling. Subsidiaries conduct business responsibly. Player protection is key. The Tote Board balances regulations. It counters illegal gambling. It offers safe gaming options.
Corporate governance is a priority. The Chairman and Board Members are appointed. They bring experience from public and private sectors. The Board sets strategic directions. It ensures optimal resource use.
The Audit and Risk Committee oversees internal controls. It reviews financial reporting and risk management. This ensures accountability. It audits the Tote Board’s finances. The committee can investigate any matter.
The Enterprise Risk Management framework assesses policies. It identifies risks. This framework aligns with international standards. It helps balance risks with strategy. The Board monitors risk responses.
Internal controls safeguard stakeholder interests. They protect the Group’s assets. Management implements comprehensive controls. This ensures reliable financial information. The Audit and Risk Committee reviews these controls annually.
Management assures the accuracy of financial statements. They confirm adequate internal controls. These controls manage risks effectively. The Audit and Risk Committee is satisfied with the systems.
Internal Audit provides independent evaluations. It reports to the Audit and Risk Committee. It assesses internal controls. It works with external auditors. This provides assurance on risk management.
External auditors review internal controls. They report any non-compliance. The Audit and Risk Committee addresses weaknesses. It ensures auditor independence.
The Investment Committee sets investment policies. It reviews fund performance. It appoints fund managers.
The Tote Board supervises Singapore Pools and Singapore Turf Club. It appoints their leaders. It provides internal audit functions.
The Whistleblowing Policy allows reporting of improprieties. The Tote Board investigates complaints seriously. It protects whistleblowers from reprisal.
The Tote Board strives for environmental sustainability. It aligns with GreenGov.SG principles. It uses sustainable procurement practices. It adopts energy-efficient technologies. It promotes water conservation. It reduces waste and encourages recycling.
The Tote Board’s commitment echoes throughout Singapore. It builds a caring and resilient nation. It channels gaming revenue. It supports worthy causes. Its impact resonates in communities. It enhances lives. The Tote Board is more than an organization. It is a cornerstone of Singapore’s social responsibility.