[h=5]
Terence Tan[/h]
Misconceived and disingenuous allegations abound, from certain quarters, that there must be financial mismanagement on the part of AHPETC. "Look at the deficit in AHPETC's accounts for FY 2013/14", they rant. "AHPETC has been run into the ground. The town councillors are incompetent. There must be fraud or dishonesty!" "Give us an answer for why AHPETC is in deficit!", they cry.
I can't help people who have drunk the kool-aid. For those who are reasonable, rational and objective, however, and purely for perspective, let us look at what has been disclosed in the annual reports of PAP-managed town councils. Here's a sampler:
Marine Parade's Town Council's ('MPTC') latest published Annual Report 2013/14 says that "...the financial year recorded an operating deficit of $109,168 after government grants. Without government grants, the Town Council would have incurred a higher operating deficit...".
MPTC's Annual Report for FY 2012/13 stated that "[t]he Town Council closed its financial year ended March 2013 with an operating deficit of $4.77 million before government grants...With the government grants of $6.11 million, we managed to report an operating surplus of $1.34 million".
Nee Soon Town Council's Annual Report 2013/14 states that "[t]he Town Council ended FY 2013/2014 with an operating deficit of $2.95 million before government grants. With government grants including GST subvention totalling $4.93 million after regulatory transfers, we are able to report a surplus of $1.98 million".
Do note that AHPETC has outstanding government grants withheld to it, by the government, amounting to about $14 million to-date.
But hey, don't take my word for it. Have a look for yourself.
#dont believeeverythingyouhear
MPTC
mptc.org.sg