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Mar 26, 2010
We're financially healthy, affirm three town councils
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WE REFER to Mr Thomas Tan's letter on Tuesday, 'Conservancy charges: Bite bullet, raise them'. The financial status of East Coast, Holland-Bukit Panjang and Tanjong Pagar town councils is healthy.
In the financial year 2008-2009, East Coast, Holland-Bukit Panjang and Tanjong Pagar town councils achieved healthy accumulated surpluses. Our total funds stood at $82.7 million, $96.16 million and $166.28 million respectively.
The three separate accounts for the maintenance of HDB estates, which Mr Tan referred to, are funds established according to the various types of properties, namely residential, commercial and carpark, within the operating fund.
This is for the presentation of the accounts in accordance with the Town Councils Act. Under the Act, town councils can make good any deficit in the funds by making transfer between funds while the total operating funds remain positive.
East Coast and Tanjong Pagar town councils did just that. For the town improvement project funds, they are set up by transferring from the accumulated operating surplus to fund specific town improvement projects.
In the respective town council websites, the audited accounts for the past financial year presented to residents show the following:
East Coast Town Council has an accumulated operating surplus of $4.71 million, sinking fund of $77.3 million and town improvement project fund of $0.66 million.
Holland Bukit-Panjang Town Council has an accumulated operating surplus of $1.8 million, sinking fund of $93.7 million and town improvement project fund of $0.56 million.
Tanjong Pagar Town Council has an accumulated operating surplus of $3.24 million, sinking fund of $162.7 million and town improvement project fund of $ 0.17 million.
A comprehensive cyclical work programme is also put in place to upkeep the conditions of building components and infrastructure.
Albert Teng
General Manager/Secretary
Holland-Bukit Panjang Town Council
Simon Koh
General Manager/Secretary
Tanjong Pagar Town Council
Sasidharan Nair
General Manager/Secretary
East Coast Town Council
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We're financially healthy, affirm three town councils
<!-- by line --><!-- end by line -->
<!-- end left side bar --><!-- story content : start -->
WE REFER to Mr Thomas Tan's letter on Tuesday, 'Conservancy charges: Bite bullet, raise them'. The financial status of East Coast, Holland-Bukit Panjang and Tanjong Pagar town councils is healthy.
In the financial year 2008-2009, East Coast, Holland-Bukit Panjang and Tanjong Pagar town councils achieved healthy accumulated surpluses. Our total funds stood at $82.7 million, $96.16 million and $166.28 million respectively.
The three separate accounts for the maintenance of HDB estates, which Mr Tan referred to, are funds established according to the various types of properties, namely residential, commercial and carpark, within the operating fund.
This is for the presentation of the accounts in accordance with the Town Councils Act. Under the Act, town councils can make good any deficit in the funds by making transfer between funds while the total operating funds remain positive.
East Coast and Tanjong Pagar town councils did just that. For the town improvement project funds, they are set up by transferring from the accumulated operating surplus to fund specific town improvement projects.
In the respective town council websites, the audited accounts for the past financial year presented to residents show the following:
East Coast Town Council has an accumulated operating surplus of $4.71 million, sinking fund of $77.3 million and town improvement project fund of $0.66 million.
Holland Bukit-Panjang Town Council has an accumulated operating surplus of $1.8 million, sinking fund of $93.7 million and town improvement project fund of $0.56 million.
Tanjong Pagar Town Council has an accumulated operating surplus of $3.24 million, sinking fund of $162.7 million and town improvement project fund of $ 0.17 million.
A comprehensive cyclical work programme is also put in place to upkeep the conditions of building components and infrastructure.
Albert Teng
General Manager/Secretary
Holland-Bukit Panjang Town Council
Simon Koh
General Manager/Secretary
Tanjong Pagar Town Council
Sasidharan Nair
General Manager/Secretary
East Coast Town Council
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