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Ministry of Finance (MOF)
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Government Financial Statements

The Statement of Assets and Liabilities reports the Government’s financial assets and liabilities but is not a measure of national reserves. It reflects how assets are held in various funds.

Last updated 3 November 2025

The Statement of Assets and Liabilities (SAL) is part of the Government Financial Statements (GFS) that are submitted to Parliament at the end of each financial year in accordance with the Constitution.

The Government's total financial assets as reflected in the SAL do not represent the size of our national reserves. Assets and liabilities of statutory boards and government-owned companies (such as those listed in the Fifth Schedule under the Constitution) are not included in this Statement.

  1. The SAL reflects how the cash and investment balances of the Government are accounted for in funds and deposit accounts that are established in accordance with the laws governing them.

  2. The Government's total financial assets record the gross assets comprising cash and investments that are set aside in these funds and deposit accounts.

  3. These assets include Government borrowings such as the Special Singapore Government Securities issued to the CPF Board.

Learn more about our assets and liabilities.