Aljunied-Hougang Town Council’s FY2015 Financial Statements
Mar 9, 2017
Aljunied-Hougang Town Council (AHTC) has submitted its financial statements on 24 February 2017 and accompanying documents over the subsequent week, six months after MND’s submission deadline of 31 August 2016.
To recap, AHTC had earlier written to MND on 12 August 2016, requesting a time extension to submit its FY2015 financial statements as it still had outstanding issues to resolve with its auditor. Over the next few months, MND corresponded with AHTC to obtain a timeframe for the completion of its FY2015 audit. However, the Town Council was not able to give a firm reply on the timeline for its submission, nor the exact reasons for the delays.
MND is reviewing the submissions but notes that this is the fifth year that AHTC’s financial statements have been qualified by the Town Council’s external auditor. In addition, as with AHTC’s financial statements for FY2014, the auditor flagged several instances of non-compliances with the Town Councils Act and Town Councils Financial Rules.
MND notes several issues with the submitted financial statements and is in the process of seeking clarifications from AHTC. Upon receiving AHTC’s clarifications, MND will present the financial statements to Parliament.
Issued
Ministry of National Development
9 March 2017