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

[zhihau]

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

Truth be told, I know that both you and I would be astounded by his explanation if he can ever come up with one :p:p:p

 

[eatshitndie]

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

i wish to thank the pap for providing a shining example to the world by running a gov budget that is consistently showing a surplus. not many gov's can do that, knowing they have to spend all and incur deficits year after year with 2 things in mind: it's taxpayers' money (not theirs), and deficit-spending is very "normal" among gov's which need to grow next year's budget. pap is da bestest!

 

[JohnTan]

All Town Councils Run Deficits, Not Just WP!

All town councils run deficits

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 $4,573,000. Subtracting the deficit amount of $3,975,000 from this actual grant amount, gave Jurong Town Council a surplus of $598,000.

One can compare AHPETC’s figures with those of the other PAP town councils below (FY 2012/2013, ending at 31 March 2013):


Tanjong Pagar(a) Chua Chu Kang(b) East Coast(c) Tampines (d) Jurong(e) AHPETC(f)
No of Electors(0) 170,785 186,349 142,393 137,532 148,475 167,708

Deficit(1) (8,660,077) (2,707,191) (2,917,296) (3,079,399) (3,974,927) (5,609,370)

Total Govt Grants(2) 14,931,745 9,217,276 5,326,203 8,841,857 9,410,375 7,274,608

Total Grants per Elector 87 49 37 64 63 43

Actual Grant applied(3) 9,598,383 4,195,155 3,217,308 4,195,669 4,573,430 4,875,452

Surplus/Deficit for FY(4) 938,306 1,487,964 300,012 1,116,270 598,503 (733,918)

http://www.tremeritus.com/2014/11/17/desmond-lee-all-town-councils-run-deficits/

Chey! All town councils run deficits lah! For a moment, I thought my PAP super tok kong! Cheat my feeling!

 

[winnipegjets]

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

i wish to thank the pap for providing a shining example to the world by running a gov budget that is consistently showing a surplus. not many gov's can do that, knowing they have to spend all and incur deficits year after year with 2 things in mind: it's taxpayers' money (not theirs), and deficit-spending is very "normal" among gov's which need to grow next year's budget. pap is da bestest!

When the government has $100 billion of our CPF money to generate income for them, of course it will be in surplus. Instead of taxing to get revenues, the PAP decides to steal from us through our CPF. Damn these crooks.

Like I have always said, sinkapore is so insignificant that foreign agencies don't bother to do their own investigation. They just take the PAP/Xinhua data and used that to draw their analysis. As you all know, garbage in, garbage out.

 

[bakkuttay]

Wtf!!!!!!! Tanjong pagar tc’s deficit is 5 times more than aljunied?

kindly do not bury this thread into AHPETC thread


source: http://therealsingapore.com/content/tanjong-pagar-tc’s-deficit-5-times-more-aljunied



18 Nov 2014 - 8:20am

I refer to the editorial “Desmond Lee, all town councils run deficits” (TR Emeritus, Nov 17).

Criticism on Aljunied’s operating deficit

It states that “Desmond Lee, the Minister of State for National Development and MP for Jurong GRC issued a statement on 7 Nov, criticising WP for accumulating arrears and running deficits in its town council, AHPETC.

All town councils run deficits

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.”

AHPETC’s grant per elector was $29.07?

- Since the actual portion of the government grant applied to the income and expenditure statement of AHPETC was $4,875,452, does it mean that the grant per elector was $29.07 ($4,875,452 divided by 167,708 electors)?

Tanjong Pagar’s grant per elector was 93% more than Aljunied?

Similarly, the grant applied to the income and expenditure statement of Tanjong Pagar town council was $9,598,383 for 170,785 electors. S0, does it mean that the grant per elector was $56.20?

Why is it that Tanjong Pagar’s grant per elector seems to be 93% more than AHPETC?

How are the government grants determined for different town councils?

Tanjong Pagar’s deficit was actually $3.7m?

If Tanjong Pagar had been given the same “$29.07 per elector” grant as AHPETC, it would have ended up with a operating deficit of -$3,695,357 ($29.07 times 170,785 electors minus $8,660,077 deficit before government grants), instead of the reported operating surplus of $938,306.

“Redder” red card for Tanjong Pagar?

So, with an “equivalent” deficit of -$3,695,357 against AHPETC’s -$733,918 deficit – shouldn’t Tanjong Pagar be given a “redder” red score in the Town Councils Management Report than AHPETC’s?

Tanjong Pagar’s deficit 5 times more than Aljunied?

Why is Tanjong Pagar apparently the “champion” of “town council deficits”, which was 5 times more than AHPETC’s?

So poor thing – Aljunied residents?

If I am not a resident of Aljunied – I probably wouldn’t have bothered to spend the time to discover the above.



Leong Sze Hian

P.S. Come with your family and friends to the 5th Return Our CPF protest on 29 November 4 pm at Speakers’ Corner https://www.facebook.com/events/796694730417598/

 

[STORM88]

Well ... here is the best example that the MIW are experts in white lies, half truths and putting up smoke screens !

I have only one word for them .......... PUI !

 

[Seee3]

Re: All Town Councils Run Deficits, Not Just WP!

This is a fact and has been happening for years that many didn't know. Someone ever told me that potong pasir used to have the best acc before grants.

Wp has cornered them by not submitting their acc statement. They need to act for the non-compliance. Bringing the matter to the public is exactly what wp wanted. It presents the opportunity to surface the inconsistencies in the way that grants are given to the TCs. It is not easy to hoodwink in this Internet age. Wp has all their supporters to correct whatever misrepresentation given by the mass media. Officially, they don't have to come out a single word. A very subtle way because it avoided bring hammered should they make any mistake if they make public statements. On the other hand it is really difficult to spin the story when the real figures are not in your favor. So all wp has to do is let them carry on with the spin, correct the wrongs through the Internet and make them look bad.

 

[soIsee]

Re: All Town Councils Run Deficits, Not Just WP!

This begs the question as to why gov grants are not offered to ALL Town Council irrespective of their political affiliation?

Isn't the elected gov is to do this, since the pool of funds such as grants which are obtained, comes from every Sinkie taxpayer's pockets?

 

[Seee3]

Re: All Town Councils Run Deficits, Not Just WP!

This begs the question as to why gov grants are not offered to ALL Town Council irrespective of their political affiliation?

Isn't the elected gov is to do this, since the pool of funds such as grants which are obtained, comes from every Sinkie taxpayer's pockets?

Grants are given to all TCs based on age of estates and other factors. I think there is a fixed formula. If I am not wrong, it is grants for community development from pa that is what wp is going after.

 

[tanwahp]

Re: All Town Councils Run Deficits, Not Just WP!

This begs the question as to why gov grants are not offered to ALL Town Council irrespective of their political affiliation?

Isn't the elected gov is to do this, since the pool of funds such as grants which are obtained, comes from every Sinkie taxpayer's pockets?

Town council businesses are not a profitable job. What the govt does is to give grants and they can give lesser to opposition town councils to make them look bad. AHPETC might have incurred more arrears than tolerable, but it won't make much difference even if their arrears were fully collected.

 

[SgGoneWrong]

Re: All Town Councils Run Deficits, Not Just WP!

Town council businesses are not a profitable job. What the govt does is to give grants and they can give lesser to opposition town councils to make them look bad. AHPETC might have incurred more arrears than tolerable, but it won't make much difference even if their arrears were fully collected.

U kidding me if tc businesses is not profitable.
One bangala cleans one block of flat gets few hundred bucks a month. How much rates do all the residents in that block pay a week?

 

[Narong Wongwan]

Re: All Town Councils Run Deficits, Not Just WP!

This is a fact and has been happening for years that many didn't know. Someone ever told me that potong pasir used to have the best acc before grants.

Wp has cornered them by not submitting their acc statement. They need to act for the non-compliance. Bringing the matter to the public is exactly what wp wanted. It presents the opportunity to surface the inconsistencies in the way that grants are given to the TCs. It is not easy to hoodwink in this Internet age. Wp has all their supporters to correct whatever misrepresentation given by the mass media. Officially, they don't have to come out a single word. A very subtle way because it avoided bring hammered should they make any mistake if they make public statements. On the other hand it is really difficult to spin the story when the real figures are not in your favor. So all wp has to do is let them carry on with the spin, correct the wrongs through the Internet and make them look bad.

Yes masterstroke from WP.
Vile pappies kena snooked opening their cans after cans of worms

 

[tanwahp]

Re: All Town Councils Run Deficits, Not Just WP!

U kidding me if tc businesses is not profitable.
One bangala cleans one block of flat gets few hundred bucks a month. How much rates do all the residents in that block pay a week?

Your fees don't just go to cleaning. One block's electricity bill is already over $1,000 per month.

In condos, maintenance fees is 5 times the amount and many management councils are still running deficits.

 

[zhihau]

Re: Wtf!!!!!!! Tanjong pagar tc’s deficit is 5 times more than aljunied?

No, no, no... This thread's focus is on TC SC&C arrears :p:p:p

 

[tanwahp]

Re: Wtf!!!!!!! Tanjong pagar tc’s deficit is 5 times more than aljunied?

No, no, no... This thread's focus is on TC SC&C arrears :p:p:p

Don't worry, it still is. No one has gone out of point, unlike someone who would then blame it on others.

 

[sleaguepunter]

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

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

Just now share a table with an uncle at a coffee shop in pap admin hougang. Found out he a 老后港， ex punggol and 老潮州。 he said 后港區係鐵錘區。 no amount of bullshit from the media will change hougang voters. He stay in ave 5 for over 30years, he still remember the hardship after forced relocation from punggol by pap.

 

[SgGoneWrong]

Re: All Town Councils Run Deficits, Not Just WP!

Your fees don't just go to cleaning. One block's electricity bill is already over $1,000 per month.

In condos, maintenance fees is 5 times the amount and many management councils are still running deficits.

My mistake, one bangala is assigned few blocks to clean.
If tc is not profitable, i think it's because profits enter the pockets of crony contractors and board of members. The RC porlumpars and mps also sit on the tc board most probably just to enrich themselves with nothing to do.

 

[mojito]

Re: All Town Councils Run Deficits, Not Just WP!

Where is Goh Meng Seng? Went into internet hiding?

 

[frenchbriefs]

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

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?

u should tell that to Creative Ceo sim wong hoo....in 1990 he was a billionaire,fast forward 24 years hes now a bankruptcy in progress thanks to a red P&L for 20 years.a billionaire to zero.

 

[laksaboy]

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

u should tell that to Creative Ceo sim wong hoo....in 1990 he was a billionaire,fast forward 24 years hes now a bankruptcy in progress thanks to a red P&L for 20 years.a billionaire to zero.

That's what happens when you get sucked dry by Zhang Haijie.

He should have moved onto phones when there was a pissing contest between Apple iPod and Creative Zen MP3 players.