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Old 22-11-2017, 05:47 PM   #1
loveikan
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Talking 6 years in a row. some more bo ownself check ownself

Read more at http://www.channelnewsasia.com/news/...ements-9422866

All town councils submitted unqualified financial statements except AHTC: MND

SINGAPORE: All town councils have submitted unqualified financial statements for the previous financial year, except for Aljunied-Hougang Town Council (AHTC), said the Ministry of National Development (MND) on Monday (Nov 20).
AHTC's financial statements were qualified by the town council's external auditor, said MND in the press release.
"The auditor had issued disclaimers as it was unable to ascertain the town council’s opening balances, payables and accrued expenses, or verify staff costs.
"This is the sixth consecutive year that AHTC has received qualified financial statements from its external auditor," said MND.
MND also released the FY2016 Town Council Management Report which assesses the councils' performance from April last year to March this year.
This is the first report for the 16 town councils formed after the 2015 General Election and they were assessed under five indicators, using three colour bands.

All scored "Green" for estate cleanliness and lift performance, despite reports of lift breakdowns in recent months. Town councils qualify for the top rating if there were, on average, fewer than four counts of "cleanliness observations" per block.
For lift performance, there were fewer than two breakdowns every month for every 10 lifts in the estates and the lifts' ARD (Lift Automatic Rescue Device) failure rate was zero, MND said.
The ARD brings the lift car to the nearest lift landing during a power failure.
However, only four town councils scored "green" for estate maintenance - Ang Mo Kio, Nee Soon, Sembawang and Tanjong Pagar. The other 12 estates scored "amber".
An amber score means that, on average, there were between four and eight counts of "maintenance observations" per block.

All town councils except AHTC also got the top rating of "green" for arrears management. MND added that Aljunied-Hougang-Punggol East Town Council, whose score was pending the outcome of a KPMG review, was banded "red" for FY2015.

Punggol East is now under the management of Pasir Ris-Punggol Town Council.

In the category of corporate governance, AHTC scored "red" while Ang Mo Kio got an "amber" rating.

According to MND, AHTC was banded “red” due to three non-compliances with the Town Councils Financial Rules (TCFR):

(i) Late quarterly transfer to the sinking fund;
(ii) Waiver of quotation that was not in accordance with requirements under the TCFR;
(iii) Fixed assets count report not certified by the town council in accordance with the requirements under the TCFR.

"AHTC has reviewed our statutory auditor’s comments. We will strive to keep all inadvertent administrative errors to a minimum and comply with the TCFR," the town council said in a statement on Monday.

Ang Mo Kio was banded “amber” as the town council had not sought approval from the correct approving authority for the waiver of quotations as required under the TCFR.
Source: CNA/ad
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Old 22-11-2017, 07:27 PM   #2
globalcookie
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Quote:
Originally Posted by loveikan View Post
SINGAPORE: All town councils have submitted unqualified financial statements for the previous financial year, except for Aljunied-Hougang Town Council (AHTC)

AHTC's financial statements were qualified by the town council's external auditor, said MND in the press release.

Ang Mo Kio was banded “amber” as the town council had not sought approval from the correct approving authority for the waiver of quotations as required under the TCFR.
Source: CNA/ad
An unqualified opinion is an independent auditor's judgment that a company's financial records and statements are fairly and appropriately presented, and in accordance with Generally Accepted Accounting Principles (GAAP). An unqualified opinion is the most common type of auditor's report.

A qualified opinion is a statement issued after an audit is done by a professional auditor that suggests the information provided was limited in scope and/or the company being audited has not maintained GAAP accounting principles.


I'm puzzled. Not sure what is wrong.

All TC except AHTC submitted "Unqualified financial statements" while AHTC submitted "Qualified financial statement". In that case, am I right to say, nothing wrong with AHTC, or could I even say, their financial statement is even better??

And of all, AMK TC received Amber as they had not sought approval from the correct approving authority for the waiver of quotations as required under the TCFR.

Seems like something not right leh. Isn't there a need for 3 quotes? Seems like not the first time PM LHL's GRC is in the news for the wrong reason.
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Old 22-11-2017, 08:34 PM   #3
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The whole damn system stinks really bad!!!
But hey....70% of Sporeans still think they are the best!!
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Old 23-11-2017, 01:48 PM   #4
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overall I find it disturbing that PRIME MINISTER's GRC can have so much problem and it's all acceptable to Singaporeans and his GRC voters!

AHTC problem they drum up like kena some deadly virus. PM LHL's GRC got problem, like speck of dust. WHAT IS THIS???

Just a refresher
Apart from this AMK GRC TC receiving amber for not getting approval for waiver of quotation, there's that corruption scandal last year.

Quote:
SINGAPORE - The general manager and secretary of Ang Mo Kio Town Council (AMKTC) has been removed from his duties and is under investigation by the Corrupt Practices Investigation Bureau (CPIB).

Mr Victor Wong, who works for CPG Facilities Management, the managing agent of the town council, was asked to go on leave by his company after the town council received a complaint about him in September, town council chairman Ang Hin Kee told The Straits Times on Thursday (Dec 29).

An acting general manager, Mr Lim Kian Chiong, has been appointed to replace him, according to a notice published last month in the Government Gazette.

Mr Lim is also an employee of CPG Facilities Management, contracted to manage the estate.
Is it a norm, that a staff of TC, is an employee of the contractor? Any conflict of interest? This one i not sure... but when they cry father cry mother abt FMSS and AHTC matter, I thought it's wrong.

But than again, when Brompton bicycle issue came up, it just got me wondering how many such kaki lang is going on?

Haiz.... maybe that's the right way of doing things

---------------

Singaporeans are forgetful... or they are plainly bias. PAP side simi also nothing wrong. Opposition side simi also wrong...

Last edited by globalcookie; 23-11-2017 at 01:51 PM.
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Old 23-11-2017, 03:10 PM   #5
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What happened to their ex-MP's $2 software company........are they still around or closed after losing the lucrative TC's contract ??
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Old 23-11-2017, 04:09 PM   #6
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Quote:
Originally Posted by lenghan View Post
The whole damn system stinks really bad!!!
But hey....70% of Sporeans still think they are the best!!
sheep are always sheep all year round
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Old 23-11-2017, 04:36 PM   #7
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Quote:
Originally Posted by globalcookie View Post
Is it a norm, that a staff of TC, is an employee of the contractor? Any conflict of interest? This one i not sure... but when they cry father cry mother abt FMSS and AHTC matter, I thought it's wrong.
To my knowledge.... the TC duties is fully outsourced to CPG FM.

so how they run the TC is by collecting feedback... and den throw all the shit to CPGFM to settle.
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Old 23-11-2017, 04:50 PM   #8
loveikan
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Can publicly put Ownself check ownself liao.

what thing they cannot do leh.
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Old 23-11-2017, 04:53 PM   #9
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Quote:
Originally Posted by loveikan View Post
Can publicly put Ownself check ownself liao.

what thing they cannot do leh.
Technically everything they do they need to go thru the management of both TC and CPG. Still got approval levels they need to go thru one leh
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Old 23-11-2017, 05:51 PM   #10
loveikan
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Originally Posted by satan_gal View Post
Technically everything they do they need to go thru the management of both TC and CPG. Still got approval levels they need to go thru one leh
yes... but all for show only lah after upstair all gau tim.

I am very sure.
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