Desmond Lee - ALL TCs run on deficits. Tg Pagar gets $87 per elector; HATC $43

[Confuseous]

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/desmond-lee-all-town-councils-run-deficits/

 

[frenchbriefs]

Oh does this mean when aljunied was under PAP they had a deficit but government gave them a grant of millions but when wp took over,they look incompetent but actually aljunied was running a deficit all along?

 

[winnipegjets]

Thanks for the info ...lying PAP, lying Goh Meng Seng, that lying PAP supporter who called himself an accountant, damn all of them.

 

[winnipegjets]

More material to humtum PAP ...huat ah!

 

[winnipegjets]

Leongsam, you have been conned! So, what have you got to say?

 

[zhihau]

Leongsam, you have been conned! So, what have you got to say?

It's an honest mistake, let's move on

 

[zeddy]

People who live in glass houses should not throw stones... Its going to be interesting now to see Pappy Scums rebutting this new revelations..

 

[mojito]

PAP constituencies get more money per elector? Now that is one more reason to vote the PAP instead!

 

[winnipegjets]

It's an honest mistake, let's move on

Brilliant Leongsam will come out with something to justify his 'honest mistake'.

 

[LordElrond]

Surplus Good and Deficit Bad? SC&C arrears high = Bad?

On the AHTC issue, it is alarming to me how people can be swindled by such a simplistic accusation. If the balance sheet has reserve, a virtuous govt will draw on it for the benefit of the residents. A deficit in p&l means outflow exceeds inflow during the year, it is normal when the TC is incurring expense to improve the residents amenities. On the other hand a bloodsucker govt will keep hoarding reserve with the excuse "keep for rainy days" while they continue to haunt residents with legal letters. I dare put my money the kindness towards constituents will ensure they retain their hold on GRC in the next GE.

 

[sochi2014]

Re: Surplus Good and Deficit Bad? SC&C arrears high = Bad?

If you run a government like a profit organisation, will you respect them?

Or if you run a government like deep in debts, will you take them seriously?

 

[LordElrond]

Re: Surplus Good and Deficit Bad? SC&C arrears high = Bad?

If you run a government like a profit organisation, will you respect them?

Or if you run a government like deep in debts, will you take them seriously?

The balance sheet is not in red, only the P&L. So their net asset is still positive. Can you please read up and understand the difference? US is the most indebted country in the world do you take them seriously?

 

[LordElrond]

Re: Surplus Good and Deficit Bad? SC&C arrears high = Bad?

Btw... a govt is not a profit organisation? Is your brain so conditioned to think a govt must be run like a profit organisation??

 

[sochi2014]

Re: Surplus Good and Deficit Bad? SC&C arrears high = Bad?

I was highlighting the extremes mistakes every garmen should not make.

 

[LordElrond]

Re: Surplus Good and Deficit Bad? SC&C arrears high = Bad?

Btw... please go and read the annual report. AHPETC has 89m in net assets including 75m in cash.... so your understanding of the town council being deep in debts is completely wrong! I guess the media did not highlight this and you took Lim Boon Heng's word for it? Please Sinkies... open your eyes. If you can be swindled by such a simple misrep, I don't know how much sense you have to make a proper judgement.

 

[sochi2014]

Re: Surplus Good and Deficit Bad? SC&C arrears high = Bad?

And how much deficit it has? The cash will be depleted away quickly if there is a continuous deficit for a few years!

Have you included capital depreciation?

They will be bankrupt then!

 

[LordElrond]

Re: Surplus Good and Deficit Bad? SC&C arrears high = Bad?

The balance sheet of the AHPETC is healthy. The deficit is for the year only. And I am confident it will look even better by GE 2016. Anyone who knows how to read financials ie with your own mind and not what PAP tells you - feel free to challenge my statement.

 

[LordElrond]

Re: Surplus Good and Deficit Bad? SC&C arrears high = Bad?

And how much deficit it has? The cash will be depleted away quickly if there is a continuous deficit for a few years!

Have you included capital depreciation?

They will be bankrupt then!

Have you read the financials? Please try to read it before you rant on.

 

[LordElrond]

Re: Surplus Good and Deficit Bad? SC&C arrears high = Bad?

And how much deficit it has? The cash will be depleted away quickly if there is a continuous deficit for a few years!

Have you included capital depreciation?

They will be bankrupt then!

Don't say I never answer your question. 2013 is the first year they incur deficit due to heavy expenditure to improve their constituency. What is your basis of assuming they will incur deficit for years? Lim Boon Heng told you? Yes capital depreciation is included. Net Asset means assets net off debts you twit.

 

[zhihau]

Re: Surplus Good and Deficit Bad? SC&C arrears high = Bad?

On the AHTC issue, it is alarming to me how people can be swindled by such a simplistic accusation.

Heng ah... My kakis at the kopi session yesterday related that they don't give a flying fuck about what ratings MND throws at the oppositions. Their relatives in Punggol East SMC only know that they are very glad they didn't choose an arse to be their MP :p:p:p