Aljunied-Hougang Town Council (AHTC) announced today that it has agreed to implement interim remediation plans recommended by independent accountants hired last month.
The Workers’ Party-run council said these include a policy management process, a governance and internal control framework, guidelines for staff in its finance department, and an accounting manual, said council chairman and Aljunied GRC MP Pritam Singh in a media statement which was also posted on its website.
The town council also plans to install a new accounting system.
Yesterday, KPMG submitted its first monthly progress report on AHTC to the Housing Board (HDB), after an apex court ruling in January required the town council to appoint a Big Four firm to fix its accounting and governance lapses.
HDB said it is reviewing the 42-page report, which was released by AHTC on Saturday (April 16).
On Thursday, the Ministry of National Development (MND) disbursed about S$12.9 million in Service and Conservancy Charges (S&CC) grants to AHTC, a day ahead of the town council making its remaining sinking fund transfer of over S$9.1 million.
Town councils must fulfil sinking fund obligations in order for S&CC operating grants to be released.
Mr Singh said that AHTC had instructed its bankers to transfer $9,134,374.06 to its sinking fund bank account.
He said: “In effecting this transfer, AHTC has fulfilled all of its outstanding sinking fund transfer obligations.”
AHTC has been implementing remedial measures progressively to address the outstanding non-compliances, or audit issues, brought up in the KPMG report, he said.
Read also: Court order town council to appoint a Big 4 firm
chenj@sph.com.sg
AsiaOne, The Straits Times
