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S&CC of Tanjong Pagar Town Council
Late afternoon yesterday, the postman came to my estate in Tanjong Pagar GRC to send us our Service and Conservancy Charges (S&CC) bill. Last night, the elderly aunties and uncles were shouting angrily that it has increased to $42 per month. Despite living here in the smallest 3-room HDB flat since the year I was born in 1991 … Despite the fact that none of the residents in Tanjong Pagar GRC had a chance to vote for the MPs to take care of this estate since I was born…
Their shouts of grievance at night made it hard for me to sleep last night. So, Leong Sze Hian and I did some research on Tanjong Pagar town council (TPTC) and the Town Council Act.
Under the Town Councils Act (CHAPTER 329A) Section 34:
“(3) Where there is an election in any or every whole constituency within a Town without any prior alteration to the boundaries of such constituency, the Town Council for the Town shall, subject to subsection (7), transfer its surpluses in the following manner: (a) if the Member or Members elected and the previous Member or Members for the constituency stood in elections for the same political party — 80% of its surpluses relating to such area of the Town comprised in that constituency shall be transferred to the prescribed sinking funds of the Town Council relating to that area; or (b) if the Member or Members elected and the previous Member or Members for the constituency stood in elections for different political parties — all its surpluses relating to such area of the Town comprised in that constituency shall be transferred to the prescribed sinking funds of the Town Council relating to that area.”
Residents deprived of use of accumulated surpluses whenever elections are called?
Wouldn’t residents be in a way, suffering at least 80% losses (same political party wins) or up to 100% (different political party wins) by way of a transfer of the accumulated surpluses to the sinking fund, the moment there is an election?
Why is it that such an undemocratic and unfair amendment to the Town Council Act was passed by Parliamentarians without much debate, scrutiny an dissent?
Really need to increase S&CC?
If there is no Section 34, would S&CC need to be raised after the last general election in 2011?
In this connection, in 2012, there was a SGD$46,911 “Surplus for the financial year”.
“Accumulated surplus as at 1 April 2011” is SGD$6,527,239 but “Accumulated surplus as at 31 March 2012” decreased to SGD$3,453,823.
Was this due primarily to a SGD$4,470,001 “Transfer of Accumulated Surplus to Sinking Fund” on 18 April 2011 (under Section 34)?
S&CC past due increased 13%?
The Total S&CC past due has increased by about 13% from $1,759,172 in 2011 to $1,984,504. (From SGD$443,390 to SGD$730,747 for “Past due < 3 months”, From SGD$295,127 to SGD$312,800 for “Past due 3 to 6 months”, From SGD$1,020,654 to SGD$940,957 for “Past due over 6 months”)
Provision for impairment increased 38%?
“Provision for impairment” increased 38% from SGD$513,767 in 2011 to SGD$711,452 in 2012.
More financially stressed residents?
Does this increase in S&CC owing and provision for impairment, mean that maybe more residents were under greater financial stress last year?
Bad debts increased 9 times?
Why is it that the General and Administrative Expenditure’s “Bad debts written off” increased by about 9 times from SGD$56,881 in 2011 to SGD$451,172 in 2012?
Late payments’ % as high as S&CC receivables?
Why is it that the “Interest receivable on late payments” of $902,958, is almost as high as the “Conservancy and service receivables” of SGD$1,113,988 in 2012?
Fund managers’ performance?
Why is it that the total “Funds with fund managers” have decreased by about 39% from SGD$34,723,282 in 2011 to SGD$20,588,849 in 2012?
Apparently, this may be due primarily to the increase in the “HELD-TO-MATURITY INVESTMENTS” (Bonds) from SGD$24,860,191 in 2011 to SGD$51,898,090 in 2012.
Under “Cash flows from investing activities”, “Proceeds from termination of funds with fund managers” was SGD$13,941,431 in 2012.
“Fair value loss” was a negative SGD$202,014 in 2012.
So, what does this indicate to us? What was the performance of the fund managers last year?
$191m sinking fund in just 1 TC?
As of 31 March 2012, there is SGD$191,930,738 in the Sinking Fund. When will this amount of money be used to better the lives of Singaporeans living in Tanjong Pagar GRC?
If we have $191 million of sinking funds in just one town council, how much in total are there for all the town councils?
http://www.tptc.org.sg/pdf/annual%20report%202012.pdf
Han Hui Hui and Leong Sze Hian
