Time to look into PAP Town Council acct?

[Avantas]

In his speech at a National Day dinner held in Hougang in July this year, SM Goh urged Hougang residents to “study the annual accounts of the town council to ensure that the funds are properly used”.

Now it has been revealed by the press that some PAP Town Councils have lost few percentage of their sinking funds in the purchase of Lehman-linked products, is it time for us to relook into the accounts of these Town Councils ?

I did a check on the websites of the 14 PAP Town Councils as well as the 2 opposition Town Councils and none have published their accounts online.

Given that the sinking funds of the Town Councils are public funds contributed by residents, shouldn’t its balance sheet be made public for us to know how it is being managed ?

Read rest of article here:

http://wayangparty.com/2008/10/30/is-it-time-for-us-to-look-into-the-accounts-of-pap-town-councils/

 

[SevenEleven]

yes...true. I still cannot make out why the TC had become an investment arm when they are just suppose to be maintaining the estate

 

[Avantas]

Obviously they have been over charging residents for decades.

yes...true. I still cannot make out why the TC had become an investment arm when they are just suppose to be maintaining the estate

 

[myfoot123]

If they hike Town council conservancy fee, we will know something is very very wrong in their accounts.

 

[myjohnson]

Obviously they have been over charging residents for decades.

Tell us about it. S&C charges plus one season parking's cost is equivalent to half of condo's excluding security, tennis courts, gym, club house, sauna and swimming pool and parking lots. But when you are handling sheep, you want to shear, you shear. meeh...........eehh......eehh....bleat....bleat.

 

[sherrry]

......... Given that the sinking funds of the Town Councils are public funds contributed by residents, shouldn’t its balance sheet be made public for us to know how it is being managed ?

Well, that means no need for accountability, and that also means, they get to do whatever they please with the $. Was there transparency from the beginning? I guess not.

About time the people start demanding some answers.

 

[Avantas]

Unfortunately, the only people making noise now are bloggers.

Well, that means no need for accountability, and that also means, they get to do whatever they please with the $. Was there transparency from the beginning? I guess not.

About time the people start demanding some answers.