Workers Party Finally Submits A Delayed Screwed Up Report

quack

Couldn’t find a blue duck…..

After a delay of 10 months, the Aljunied-Hougang-Punggol East Town Council (AHPETC) which is run by the Workers party has finally submitted its Financial Year (FY) 2013 audited financial statements and reports.

For those who are mathematically-challenged, now is July 2015.

So 2015 – 2013 = 2012

That’s 2012 years! About as long as Jesus died!

We don’t even know what we had spent our money yesterday let alone 2012 years ago.

Anyway, despite the long delay, the Ministry of National Development (MND) noted that the report was a big screwed-up with eight areas of concern including non-compliance with legal and regulatory requirements. This was pointed out by AHPETC own independent auditors.

What was more disturbing was that AHPETC seemed to be bleeding money and tried to white-wash it by massaging the figures.

“AHPETC went from an annual operating surplus of S$1.1 million in FY2011 to a deficit of S$1.53 million in FY2012 and a larger deficit of S$2.01 million in FY2013. The TC had previously understated its annual operating deficit in FY2012 by half,” MND said.

“AHPETC had an accumulated deficit of S$1.42 million in FY2013, compared to a small accumulated surplus of S$853,000 in FY2012. The TC had previously overstated its accumulated surplus in FY2012 as S$1.84 million.”

The ministry said AHPETC’s financial position has “consistently deteriorated” between FY2011 and FY2013, even though it received full Government grants from MND in those three years.

The Workers Party has prided itself as the co-driver of the country. By the look of the way they are managing their own town council, they are more like a free-loader.

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