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06-09-2015, 10:20 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
SINGAPORE: The Punggol East constituency was in “good financial health” when it was handed over to the Workers’ Party (WP) in April 2013, the People’s Action Party (PAP) candidate for Pasir Ris-Punggol GRC Zainal Sapari said on Sunday (Sep 6).
During a rally in Punggol on Saturday night, WP chief Low Thia Khiang accused the PAP of misleading voters. Holding up a printout of the Pasir Ris-Punggol Town Council’s accounts for April 2013, Mr Low said the accounts showed a deficit of S$280,000 when it was handed over to the WP after the by-election. The PAP had said earlier that the accounts had a surplus.
In a Facebook post on Sunday, Mr Zainal provided a breakdown of the accounts, in which he stated there was in fact an accumulated routine fund surplus of $804,945 for Punggol East as of Mar 31, 2012 – the last full-year audited accounts before the by-election.
“After an election, if there is a change of party, the TCs (Town Councils) Act requires that 100 per cent of routine fund surplus must be transferred to the Sinking Fund with the exception of town improvement projects committed at that point of time,” Mr Zainal wrote.
A total of S$782,563 was set aside for committed town improvement projects, and the balance was transferred to the sinking fund, he said.
“At the handover to AHPETC on Apr 30, 2013, although there was a deficit in the accumulated routine fund of S$282,009, the same set of accounts also showed an amount of S$303,372 claimable as reimbursement from the CPIC (Community Improvement Projects Committee) fund, which Pasir Ris-Punggol Town Council had already secured for Punggol East SMC.”
The reimbursement was made known to WP at the point of takeover, which would give an actual net surplus of S$21,363, Mr Zainal said.
http://www.channelnewsasia.com/news/...d/2105570.html (http://www.channelnewsasia.com/news/singapore/punggol-east-in-good/2105570.html)
Click here to view the whole thread at www.sammyboy.com (http://sammyboy.com/showthread.php?215119-Zanial-quot-Manny-quot-Sapari-WP-Talking-Cock!-PE-SMC-Got-Surplus-of-21k-!!&goto=newpost).
SINGAPORE: The Punggol East constituency was in “good financial health” when it was handed over to the Workers’ Party (WP) in April 2013, the People’s Action Party (PAP) candidate for Pasir Ris-Punggol GRC Zainal Sapari said on Sunday (Sep 6).
During a rally in Punggol on Saturday night, WP chief Low Thia Khiang accused the PAP of misleading voters. Holding up a printout of the Pasir Ris-Punggol Town Council’s accounts for April 2013, Mr Low said the accounts showed a deficit of S$280,000 when it was handed over to the WP after the by-election. The PAP had said earlier that the accounts had a surplus.
In a Facebook post on Sunday, Mr Zainal provided a breakdown of the accounts, in which he stated there was in fact an accumulated routine fund surplus of $804,945 for Punggol East as of Mar 31, 2012 – the last full-year audited accounts before the by-election.
“After an election, if there is a change of party, the TCs (Town Councils) Act requires that 100 per cent of routine fund surplus must be transferred to the Sinking Fund with the exception of town improvement projects committed at that point of time,” Mr Zainal wrote.
A total of S$782,563 was set aside for committed town improvement projects, and the balance was transferred to the sinking fund, he said.
“At the handover to AHPETC on Apr 30, 2013, although there was a deficit in the accumulated routine fund of S$282,009, the same set of accounts also showed an amount of S$303,372 claimable as reimbursement from the CPIC (Community Improvement Projects Committee) fund, which Pasir Ris-Punggol Town Council had already secured for Punggol East SMC.”
The reimbursement was made known to WP at the point of takeover, which would give an actual net surplus of S$21,363, Mr Zainal said.
http://www.channelnewsasia.com/news/...d/2105570.html (http://www.channelnewsasia.com/news/singapore/punggol-east-in-good/2105570.html)
Click here to view the whole thread at www.sammyboy.com (http://sammyboy.com/showthread.php?215119-Zanial-quot-Manny-quot-Sapari-WP-Talking-Cock!-PE-SMC-Got-Surplus-of-21k-!!&goto=newpost).