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Tuesday, 4 March 2014

$62.1 million transfer to the sinking fund on 18 April 2011 yet increase our S&CC?

All the town councils had surpluses and huge ACCUMULATED surpluses to the extent of whopping $62.1 million transfer to the sinking fund on 18 April 2011.

Why is there a need to raise S&CC in the PAP-in charge town councils?

The numbers get more perturbing when after calculating how much the increase the town councils will get.

TODAY, reported that “about half a million households here will have to pay more for their town councils’ S&CC, starting from April. The total S&CC increase, which will set in over two years, is between S$1 and S$15 a month, depending on the flat type.”

Assume that the charges will increase by $3 on average across all households. From 0.5 million households, the eight town councils would have collected an additional $18 million in one year.

This is over and above current S&CC collected. It also excludes S&CC for commercial properties, which would likely raise the total sum collected.

Is that not rather drastic from having an annual surplus of $8.7 million to now saying they need to make up an estimated $18 million every year?

Why do the town councils need this sudden financial boost?

Did the government recently cut grants to town councils?

Join us next on 9 March 2014 Sunday 4pm at Hong Lim Park: