Financial irregularities in Hindu Temple
Sri Siva Krishna Temple (SSKT) was found with financial irregularities and serious lapses in the governance and management.
This was the finding of an inquiry by the Commissioner of Charities (COC) launched in late February this year.
According to a press statement issued today, the Inquiry found evidences of suspected forgery of payment vouchers and misappropriation of the Temple's funds.
These include payments purported to have been made but not received by the vendor, donations made to the Temple but not accounted for in the Temple's accounting records, as well as missing donation receipt books.
These transactions took place between January 2007 and July 2008 before the Protem Committee, set up by the Hindu Endowment Board (HEB), which took charge of the financial affairs of the Temple.
The COC also found that there was a severe lack of segregation of duties, and checks and balances of the Temple.
While there was a Management Committee in place, then-President, Mr Sivalingam, effectively had the sole control of the donation monies and gold received by the Temple.
Mr Sivalingam maintained the accounting records, approved contracts/purchases and disbursed cash/cheques on behalf of the Temple. Most of the decisions of the Temple were made by him or with his acquiescence.
COC has since lodged a report with the Criminal Affairs Department and Mr Sivalingam had voluntarily resigned from the office of the President on May 6.
A new Management Committee was elected at the Temple's Annual General Meeting held in April this year. However Mr Sivalingam was subsequently elected as the Temple's Advisor and Chief Executive Officer (CEO), with effect from May 22.
Given the inquiry findings of mismanagement in the administration of the Temple during Mr Sivalingam's tenure as the President, the COC said the press release that it is concerned with his continued involvement in the Temple's affairs.
As such, the COC has initiated action under Section 25 of the Charities Act to remove Mr Sivalingam as a charity trustee - this would prevent him from being involved in the general control and management of the administration of the Temple or other charities.
Other findings
The Inquiry also revealed severe deficiencies in the internal controls of the Temple.
These included lack of proper procedures and controls over the revenue collection and receipt books, the practice of pre-signing cheques, cash donations not deposited into the bank account regularly, large amount of payments (as much as $18,000 in a single payment) made in cash, payments not substantiated by supporting documents, and no proper accounting records were kept.
The new Management Committee has been advised to strictly adhere to these measures so as to ensure the Temple's proper administration going forward.
COC has also advised SSKT to continue to let HEB manage its finance affairs, to ensure that these internal control measures can be sustained.
To be Fair. What next?
Sri Siva Krishna Temple (SSKT) was found with financial irregularities and serious lapses in the governance and management.
This was the finding of an inquiry by the Commissioner of Charities (COC) launched in late February this year.
According to a press statement issued today, the Inquiry found evidences of suspected forgery of payment vouchers and misappropriation of the Temple's funds.
These include payments purported to have been made but not received by the vendor, donations made to the Temple but not accounted for in the Temple's accounting records, as well as missing donation receipt books.
These transactions took place between January 2007 and July 2008 before the Protem Committee, set up by the Hindu Endowment Board (HEB), which took charge of the financial affairs of the Temple.
The COC also found that there was a severe lack of segregation of duties, and checks and balances of the Temple.
While there was a Management Committee in place, then-President, Mr Sivalingam, effectively had the sole control of the donation monies and gold received by the Temple.
Mr Sivalingam maintained the accounting records, approved contracts/purchases and disbursed cash/cheques on behalf of the Temple. Most of the decisions of the Temple were made by him or with his acquiescence.
COC has since lodged a report with the Criminal Affairs Department and Mr Sivalingam had voluntarily resigned from the office of the President on May 6.
A new Management Committee was elected at the Temple's Annual General Meeting held in April this year. However Mr Sivalingam was subsequently elected as the Temple's Advisor and Chief Executive Officer (CEO), with effect from May 22.
Given the inquiry findings of mismanagement in the administration of the Temple during Mr Sivalingam's tenure as the President, the COC said the press release that it is concerned with his continued involvement in the Temple's affairs.
As such, the COC has initiated action under Section 25 of the Charities Act to remove Mr Sivalingam as a charity trustee - this would prevent him from being involved in the general control and management of the administration of the Temple or other charities.
Other findings
The Inquiry also revealed severe deficiencies in the internal controls of the Temple.
These included lack of proper procedures and controls over the revenue collection and receipt books, the practice of pre-signing cheques, cash donations not deposited into the bank account regularly, large amount of payments (as much as $18,000 in a single payment) made in cash, payments not substantiated by supporting documents, and no proper accounting records were kept.
The new Management Committee has been advised to strictly adhere to these measures so as to ensure the Temple's proper administration going forward.
COC has also advised SSKT to continue to let HEB manage its finance affairs, to ensure that these internal control measures can be sustained.
To be Fair. What next?
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