An honorable member of the Coffee Shop Has Just Posted the Following:
TRE examined the annual reports of several town councils and found that, in reality, all are running deficits. In fact, all require government grants in order to operate as the conservancy charges collected from HDB residents are not enough to cover expenses, generally speaking.
Take Desmond Lee’s Jurong Town Council for example, it also ran a deficit (after tax but before government grants) of $3,975,000 in FY2012/13, ending at 31 March 2013.
The government gave a total grant of $9.4 million to Jurong Town Council. After transferring a portion to the Sinking Funds and the Town Improvement & Project Funds, the actual government grant taken to the income and expenditure statement for Jurong Town Council was
http://www.tremeritus.com/2014/11/17...-run-deficits/
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18-11-2014, 03:00 AM
Desmond Lee - ALL TCs run on deficits. Tg Pagar gets $87 per elector; HATC $43
