Why can't Town Councils publish their accounts online like charities ?

[Avantas]

Let’s examine the account books of major charities in Singapore in contrast to the complete opaque nature under which the Town Councils currently operate (including the 2 opposition TCs).

Below is the list of financial statements issued by major charities in Singapore which is posted online on their home pages:

We select three charities which have allocated part of their funds in investments:

1. Kidney Dialysis Foundation: investment income of S$441,000 for FY 07/08 in fixed deposits and bonds, net gain of 12%

2. Ren Ci Hospital: investment income of S$150,000 for FY 07/08.

3. City Harvest Church: S$500,000 in investments for FY 06/07.

Read full article here:

http://wayangparty.com/2008/11/05/w...nts-online-like-major-charities-in-singapore/

 

[Neh_Neh_Pok]

Maybe the Town Councils scare or don't bother to get third party auditors to check on them

 

[sherrry]

In the 1st place, somebody should be auditing them.
So far, we're not getting much updates from the GLCs and/or GIC.
If everything has to be by word of mouth, then what gives?

 

[Neh_Neh_Pok]

In the 1st place, somebody should be auditing them.
So far, we're not getting much updates from the GLCs and/or GIC.
If everything has to be by word of mouth, then what gives?

No choice, the so-called scholars working there all jia liao bee

 

[pia]

Because it'll take 52 man-years each?

 

[jw5]

Because it'll take 52 man-years each?

Hahaha, either you wait that long or you trust them.
Your choice.

 

[DOM the Clown]

Let’s examine the account books of major charities in Singapore in contrast to the complete opaque nature under which the Town Councils currently operate (including the 2 opposition TCs).

Below is the list of financial statements issued by major charities in Singapore which is posted online on their home pages:

We select three charities which have allocated part of their funds in investments:

1. Kidney Dialysis Foundation: investment income of S$441,000 for FY 07/08 in fixed deposits and bonds, net gain of 12%

2. Ren Ci Hospital: investment income of S$150,000 for FY 07/08.

3. City Harvest Church: S$500,000 in investments for FY 06/07.

Read full article here:

http://wayangparty.com/2008/11/05/w...nts-online-like-major-charities-in-singapore/

"Okay. The truth is, you peasants can't handle the truth.........besides, it concerns our natioanal security!"

 

[eQuipment]

If our soverignty & national security depends solely on town council funds, then, we should all be very very worried.

 

[2lanu]

If I rem correctly Bukit Panjang last yr revealed their account and that was S$1B. How much do those big GRC had? I guessed it can frighten the shitizen.

 

[eQuipment]

simple town council can hold S$1B? GRC surely will have many times more. but if all that $ is meant for town council to do repair & upgrading? then, what about the rest of the $ in the national account? look good sitting in the bank? and the $ in the reserves? use as bricks to build paper castle?

 

[evisionary]

Who give rights for town councils to use public funds for investment in the first place?

I understand that profit from investments are injected back into the sinking funds but this time round, its about losing public funds - somebody (government) has to answer.

PAP town council's sinking funds range from $30 Million to $150 Millions that's a lot of money begin with.

If they can invest certain % of that money, whats stopping them to invest more and channel those profits directly to the residents.

Is this leading to be another NKF crackdown? Golden tap in town council toilet?

 

[williamsF1]

Who give rights for town councils to use public funds for investment in the first place?

I understand that profit from investments are injected back into the sinking funds but this time round, its about losing public funds - somebody (government) has to answer.

PAP town council's sinking funds range from $30 Million to $150 Millions that's a lot of money begin with.

If they can invest certain % of that money, whats stopping them to invest more and channel those profits directly to the residents.

Is this leading to be another NKF crackdown? Golden tap in town council toilet?

golden tap? they're already getting golden teeth implants long before Durai installed his tap.