OPEN LETTER TO PNG ENG HUAT: DID HOUGANG TOWN COUNCIL HAVE A SURPLUS OR DEFICIT?
Dear Mr Png,
On 2 September, you gave a good rally speech on how Hougang town council had a surplus when it merged its account with Aljunied GRC on 26 May 2011.
But as a citizen and voter, I feel it’s my duty to speak up when I’m not sure if it’s the truth. I need to know I can vote people I trust, so I hope you can shed light on this.
I was told that Hougang town council may not be as good as you painted it to be – before 2011, Hougang town council was in deficit every year for 3 years:
FY2008/09 - deficit about $96k
FY2009/10 - deficit about $102k
FY2010/11 - deficit about $92k
You said in your speech that when Hougang TC merged its account with Aljunied on 26 May 2011, Hougang TC had a surplus. But I was also told that actually your auditors said that in the financial year ending 31 Mar 2011, your TC registered a net deficit of about $91k. I find it hard to believe, but is it true? This date is very close to the 26 May date, how come?
Apparently your auditor said they were not sure whether you had enough operating funds for daily operations, and your management had been exploring ways to improve the financial position of Hougang TC. What kinds of ways did your management explore?
There is talk that the surplus in Aljunied was used to cover the deficit in Hougang after the 2011 elections. Could that be the way your management improved the financial position of Hougang TC? I hope not…
Thanks Mr Png for taking time to clear up my doubts. It would also help if you could open your accounts and let the public see the Hougang TC audit reports from 2008 to 2011.
Then we can know for sure.
Keep up the good work!