Operating Revenue refers to Government receipts credited to the Consolidated Revenue Account and Development Fund Account, excluding Investment and Interest Income, and Capital Receipts (lumpy and less regular in timing). The main components are Tax Revenue and Fees and Charges.

Total Expenditure comprises Operating and Development Expenditure.

Operating expenditures are expenses incurred to maintain the operations and regular activities of the Government, and Government grants and transfers. They include expenditure on manpower, other operating expenditure, grants, transfers and capital injections to Statutory Boards and other organisations, and other transfers. Agency fees on land sales, investment expenses, SINGA-related outlays and net disbursements of advances are excluded.

Development expenditures are expenses that represent a longer-term investment and/or are incurred on capital assets in respect of or in connection with the economic development or general welfare of Singapore. Examples of spending areas are on the acquisition of heavy equipment and capital assets, e.g. buildings and roads. Land-related expenditure (from FY2001) and net lending are excluded.

Special Transfers Excluding Top-ups to Statutory and Trust Funds refers to discretionary transfers made by the Government to businesses and households.

Top-ups to Statutory and Trust Funds refer to resources set aside in funds for specific expenditure objectives.

Net Investment Income/Returns Contribution (NIRC) is the sum of: (1) up to 50% of the expected long-term real return on the relevant assets specified in the Constitution; and (2) up to 50% of the net investment income on the remaining assets.

The Primary Budget Position is defined as Operating Revenue less Total Expenditure.

The Basic Budget Position is defined as the Surplus/Deficit before Top-ups to Statutory and Trust Funds, Net Investment Income/Returns Contribution, Interest Cost and Loan Expenses and Capitalisation and Depreciation of Nationally Significant Infrastructure.

The Overall Fiscal Position is defined as the Surplus/Deficit after Top-ups to Statutory and Trust Funds, Net Investment Income/Returns Contribution, Interest Cost and Loan Expenses and Capitalisation and Depreciation of Nationally Significant Infrastructure.

Figures may not add up due to rounding.