Aljunied-Hougang Town Council’s FY2015 Financial Statements

Apr 12, 2017

MND has presented Aljunied-Hougang Town Council (AHTC)’s audited financial statements for FY2015 (for financial year ending March 2016) to Parliament, as required by law.

AHTC had earlier submitted its FY2015 audited financial statements on 24 February 2017, almost six months after the submission deadline of 31 August 2016 for all Town Councils. As there were several reporting discrepancies in the statements, MND wrote to AHTC to have them rectified. After two rounds of amendments, AHTC submitted its finalised FY2015 audited financial statements on 5 April 2017.

This is 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 the Town Council’s opening balances, conservancy and service fees received in advance, payables and accrued expenses, as well as staff costs.

In addition, as with AHTC’s audited financial statements for FY2014, the auditor flagged several instances of non-compliances with the Town Councils Act and Town Councils Financial Rules. A summary of the Town Council’s contraventions for FY2015 is in the Annex.