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#1
25-11-2014, 09:10 PM
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Desmond Lee - Was $20.5m transferred to TIP fund by PAP from AHTC
An honorable member of the Coffee Shop Has Just Posted the Following:
Were S & CC increases justified? After analysing these reports – arguably a lot of explaining may be need to be done to explain as to whether the increase in Service and Conservancy Charges (S & CC) by the 14 PAP town councils (including Aljunied) in 2004 and 2010 (Aljunied together with a few town councils) were justified. I am only analysing Aljunied, as I do not have access to the old reports of the other 13 town councils. $2.5m operating surpluses in 4 years? Aljunied had operating surpluses of $562,146, $1,056,868, $939,532 in 2002/03, 2003/04 and 2004/05, and an operating deficit of $107,226 in 2005/06. $13.8m accumulated surplus? However, it had huge accumulated surpluses of $13,381,756, $13,799,110, $9,151,660 and $4,268,130, respectively. In this connection, we know from AHPETC’s annual report for 2012 that the accumulated surplus was $5.5 million on 31 March 2011 – just before Aljunied was lost to the Workers’ Party. Whopping $20.5m transferred to TIP fund? Moreover, the accumulated surpluses may actually have been much more – further indicators as to whether the S & CC increases were justified – because it had made whopping transfers from the accumulated surpluses to the Town Improvement and Projects Fund of $2,000,000, $3,100,000, $8,206,000 and $7,500,000. Looking at the above humongous figures – do you think the S & CC increases were justified? A world of difference after WP? In stark contrast, the appropriation to the Town Improvement and Projects Fund (from accumulated surpluses?) was only $169,876 and $1,032,389 in 2013/12 and 2012/11, after the Workers’ Party took over the town council. Opening “a can of worms”? As a resident of Aljunied, I am in a way glad that my town council has been criticised – as things may arguably be coming out – like a “can of worms”. http://www.tremeritus.com/2014/11/25...m-to-tip-fund/ Click here to view the whole thread at www.sammyboy.com. 
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