AHTC’s financial statements presented to Parliament: MND

Aljunied-Hougang Town Council (Yahoo photo)

The Ministry of National Development (MND) has presented Aljunied-Hougang Town Council (AHTC)’s audited financial statements for financial year 2015 to Parliament.

AHTC had submitted its audited financial statements for the financial year ending March 2016 on 24 February 2017, almost six months after the submission deadline of 31 August 2016 for all town councils, MND said in a press release on Wednesday (12 April).

As there were several reporting discrepancies in the statements, MND asked AHTC to have them rectified. AHTC submitted its finalised statements on 5 April 2017.

MND said that it was the fifth consecutive year that AHTC’s financial statements have been qualified by the town council’s external auditor. This year, the auditor has issued disclaimers in the areas of AHTC’s opening balances, conservancy and service fees received in advance, payables and accrued expenses, as well as staff costs.

In addition, the auditor flagged several instances of non-compliance with the Town Councils Act and Town Councils Financial Rules.

AHTC has failed to transfer funds into the bank account of the sinking fund in a timely manner, and to ensure that all disbursement of monies from the fund are only for the purposes of meeting expenses or liabilities arising from the fund, according to the auditor.

The town council has also failed to include a debarment statement in its invitation for quotations or for tenders stating that no contract shall be awarded to a contractor if the contractor or any of its directors or employees have been debarred by the government from participating in the contract process.