The Ministry of National Development is at it again. It has taken the Aljunied-Hougang Town Council (AHTC) to task again for submitting its audited financial statements late for the 5th year straight and for “persistent lapses” pertaining to its financial accounts.
AHTC’s auditor highlighted late transfers to, and inappropriate use of, the sinking fund, to lax tender processes.
The MND says that AHTC submitted their statements for Financial Year (FY) 2015 on 25 February this year. This was almost 6 months after the submission deadline for all other town councils. AHTC submitted its finalised audited statements for 2015 on 5 April.
In a statement yesterday, AHTC chairman Pritam Singh said that AHTC has already addressed the 3 non-compliances highlighted by MND.
He said that all outstanding sinking fund transfers “have since been made upon the receipt of the withheld government grants in April 2016”, and that the amount of improperly attributed sinking fund disbursements comes up to only $4,161.87 and have since been duly returned to the sinking fund on 14 December 2016. He explained that “an estate staff had wrongly classified the repair of a resident’s leaking ceiling as facade repair works, the latter of which is properly attributable to the sinking fund.”