Ang Mo Kio Town Council Runs $6.2Mil Deficit, But Gets $13.9Mil Government Grant?

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An honorable member of the Coffee Shop Has Just Posted the Following:

http://sgtalk.org/mybb/Thread-AMK-ru...s-13-9M-grants


Yesterday 8:15 PM Post: #1 sgbuffett
Elite Senior

Posts: 14,862
Reputation: 36 Ang Mo Kio Town Council Runs $6.2Mil Deficit, But Gets $13.9Mil Government Grant?


http://redwiretimes.com/cow-beh-cow-...ernment-grant/

Desmond Lee, the Minister of State for National Development and MP for Jurong GRC, issued a statement on 7 November 2014, criticising WP for accumulating arrears and running a deficit in the management of its town council, AHPETC.

Mr Lee, who is the son of former Cabinet minister Lee Yock Suan, said:


“Before merger, Aljunied had an operating surplus of $3.3m. Within two years, the merged AHPETC’s financial position has deteriorated rapidly. The operating surplus of $3.3m Aljunied had in FY10 had turned into an operating deficit of $734,000 in FY12.”

On Saturday (15 Nov), former PAP chairman Lim Boon Heng also took a swipe at WP at a grassroots event (‘Lim on arrears: What’d happen if WP were to run SG?‘).

Mr Lim said that the WP-run town council’s swing from an operating surplus to a deficit in the short span of 3 years is worrying.

“If they (WP) can’t even manage a simple thing like a town council, then it begs the big question: If you put them in charge of the country, what will be the outcome?” he added.

WP chairman Sylvia Lim has told the media that the town council would respond in due course. She has previously said that the town council is checking the arrears data and will address the matter later after the financial information of AHPETC has been sorted out.

We examined the annual reports of several town councils and found that, in reality, all are running deficits (‘Desmond Lee, all town councils run deficits!‘).

In fact, all the town councils require government grants to operate as the conservancy charges collected from HDB residents are not enough to cover expenses, generally speaking.

We did try to review the report on AMKTC’s website [Link] but it only carried the latest report (FY13/14). Past reports are not available.

This is AMKTC’s FY13/14 report and here are our findings:
I, being poor, have only my dreams;
I will do my utmost to keep them alive.
Against tyrants and adversity, I will strive.
Together, a better future, we will realise......




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