The American Club 2020/2021 Annual Report
28 PAGE
Total Payroll & Bonuses
PAYROLL & BONUSES PER EFTE and PAYROLL & BONUSES AS % OF TOTAL INCOME
140,000
90%
80%
84%
120,000
114,992
111,284
76%
70%
67%
72%
99,864
99,020
100,000
63%
91,891
60%
88,174
59%
80,000
53%
74,512
50%
72,069
66,552
65,973 66,934
62,699
58,977 59,254
40%
60,000
30%
40,000
20%
20,000
10%
-
0%
FY15
FY16
FY17
FY18
FY19
FY20
FY21
Total Income per EFTE
Payroll & Bonuses per EFTE
Payroll & Bonuses as % of Total income
Management has been actively managing the headcount and payroll costs during the financial year.
Management also undertook a re-organization exercise to improve operational efficiency, which resulted in seven team members from the Management team leaving the Club. The payroll savings from this re-organization will be realized in FY2022.
The General Committee approved an aggregate bonus of $1.5 million payable to all levels of staff in September 2021. Total payroll and bonuses of 63% in FY2021 was lower than FY2020 of 67%.
Total Operating Expenses
Management reviewed all discretionary expenses before approvals were given. With the ongoing COVID-19 pandemic, the Club also enjoyed rebates with our vendors and managed to re-negotiate contracts at the same or better renewal terms.
The delay in the completion of the redevelopment project allowed the Club to enjoy maintenance savings as the defects liability period was extended from February/March to June 2021.
THE AMERICAN CLUB SINGAPORE
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