Wow what a bombshell today.
The Auditor-General (who is basically the king of all accountants in Singapore) has found that the Workers Party’s 3-in-1 Town Council had five lapses in running their town.
These lapses can sound quite technical, so I have checked with some of my more money-minded friends and asked them what the lapses really mean.
1) Failed to manage sinking funds
AHPETC did not transfer enough money into their sinking funds. What this means for the residents is that the Town Council did not set aside enough money for major projects like fixing lifts, changing water tanks and repainting blocks.
2) Failed to notice conflict of interest
The same people who runs the Town Council is the same people who own the Town Council’s vendor, FMSI. Basically, it means that the Town Council people gave contracts to their own company, and approved the payment to themselves.
3) Failure to manage S&CC collection
We keep hearing about AHPETC’s failure to collect S&CC, and today’s revelation today sounds like AHPETC does not even know how many people owe S&CC! No wonder the radio silence.
4) Failed to control procurement
This means that the way AHPETC procure, or bought, things were suspicious. For example, they waived off the need to have vendors compete for a contract with no clear reason. I wonder who they awarded the contract to…
5) Failure to manage records
AHPETC don’t know how to do filing, and cannot find documents that AGO needed. Seriously, FILING SO DIFFICULT MEH?!
Oh well. I’m just happy I don’t live there.