FY 2014/2015

Annual Report 2014/2015Moulmein-Kallang Town Council

Moulmein-Kallang Town Council’s Audited Financial Statements, Auditors’ Reports and Annual Report for FY2014/2015

S40 of 2015

Ordered by Parliament to lie upon the Table30 September 2015

02

06

Chairman’s Review

Town Councillors and Committee Members

Financial Statements

Independent Auditors’ Report

Statement of Financial Position

Statement of Income and Expenditure and Other Comprehensive Income

Statement of Changes in Funds

Statement of Cash Flows

Notes to the Financial Statements

CONTENTS

Moulmein-Kallang Town Council Annual Report 2014/2015 • 1

8-9

10

11

12

13

14-39

2 • Moulmein-Kallang Town Council Annual Report 2014/2015

OVERVIEW

2015 is a special year as Singapore celebrates SG50, our Golden Jubilee. A whole year of celebrations and festivities have been planned to mark this historic milestone, with the highlight being the National Day Parade on 9 August. In our Town, the various constituencies have lined up fun activities that will engage, excite and entertain residents.

Our Town’s growth mirrors that of our nation. Through the implementation of improvement projects and various government upgrading programmes and developments, our Town has transformed into a vibrant space in the heart of the city.

We now manage about 50,000 residential and commercial units and market/food stalls, and we continue to grow, with new HDB flats coming up in Bendemeer, Upper Boon Keng, St George’s, Sims Place, Lorong Limau, Jalan Tenteram and McNair.

Through it all, the Town Council’s mission remains unchanged – to serve the needs of and create the best living environment for you, the residents.

Chairman’s Review


ESTATE MANAGEMENT

The Town Council works hard to ensure a high standard of service delivery to residents. This is borne out by the Ministry of National Development’s latest Town Council Management Report (TCMR) released on 4 November 2014, which covers the period April 2013 to March 2014.

In the TCMR, the Town Council achieved Green, the top band, for four of the five indicators graded: Estate Cleanliness, Lift Performance, Service and Conservancy Charges (S&CC) Arrears Management and Corporate Governance.

We were graded Amber for Estate Maintenance. Worth a mention is that the main observations recorded by MND were obstruction of common areas and unauthorised fixtures such as clothes drying racks mounted on the wall. Safety is paramount. Consider the dire consequences that could result if the escape route was hindered in the event of an emergency. We urge residents to cooperate by keeping our common areas clean and clutter-free for the safety of you and your family.

ESTATE IMPROVEMENTS

In the financial year under review, we carried out some $18.29 million worth of cyclical maintenance. These large-scale works, such as re-wiring and repainting, are necessary to keep the estate in good repair.

We also implemented $4.15 million worth of town improvement projects, with a variety to cater to all needs, from children’s playgrounds for our little ones, to game courts for the sport buff, to senior citizens’ fitness corners for our elderly, to seven covered walkways to provide better connectivity and greater convenience for everyone.

OUR COMMUNITY IN BLOOM

Over the years, we have built a number of community gardens. Two were added in this financial year and more are on the way. This is in response to residents’ request for a place they can indulge in getting back to nature. Tending to the gardens together has also borne fruit in more ways than one. Besides enjoying the harvests – which the gardening enthusiasts share with each other and other residents – it is wonderful to see that community gardens have helped build friend-ships and rekindled the kampung spirit of old.

In August last year, a total of 12 community gardens in our Town were winners at the Community In Bloom Awards 2014, organised by the National Parks Board. Boon Keng Ville Community Garden, located at Block 14 Upper Boon Keng Road, even bagged the Platinum Award within one year of its set-up. This is indeed happy news.


WHAMPOA MARKET AND FOOD CENTRE – AN ICON REFRESHED

Following extensive repairs and redecoration works carried out between May and August 2014, the Whampoa Market and Food Centre officially reopened on 8 September last year, to much cheer from food lovers who missed the centre’s well-known culinary delights during the temporary closure. Besides the food, patrons and stallholders alike praised the improved and cleaner environment, with new tables, chairs, lights and flooring, and upgraded toilets.

FINANCIAL REVIEW

In terms of financial performance, as at 31 March 2015, our operating surplus was $2.92 million, after taking into account government grants. Our accumulated surplus stood at $3.57 million for the same period.

In the latest TCMR, our arrears position was graded Green. S&CC are the main source of income for the Town Council and are used to carry out daily conservancy work as well as constructing new facilities. We thank residents for their prompt payment, enabling the Town Council to carry out its duties expediently.

We understand some households may be facing financial hardship and have difficulty paying their S&CC on time. The Town Council helps by arranging interest-free instalment plans. We also urge you to approach your Member of Parliament during the Meet-the-People Sessions so that we can see how best to help you.

REMEMBERING THE PAST, CREATING THE FUTURE

Singapore lost her founding Prime Minister, Mr Lee Kuan Yew, on 23 March 2015. The nation responded with a collective grief never seen before as hundreds of thousands of Singaporeans from all walks of life turned up day and night to pay their last respects during the week-long lying-in-state at Parliament House. Tens of thousands lined the streets to bid farewell to Mr Lee on his final journey during the funeral procession.

Singaporeans are grateful for what Mr Lee had done for our nation and for Singaporeans. Mr Lee epitomised the values of hard work, perseverance, honesty and integrity – qualities worthy of emulation and which form the cornerstone of our corporate governance. We strive always to give our best to you, the residents. We are open to all suggestions. Just drop by or drop us a line to let us know what you would like improved to serve you better.

To the various government agencies, grassroots organisations and community leaders, we are grateful to you too for your continuing support and cooperation.

Together, let us build on what we have and continue creating the best home for all.

Edwin Tong Chun FaiChairmanMoulmein-Kallang Town CouncilMP for Moulmein-Kallang GRC



Town Councillors and Committee Members(1 July 2013 to 30 June 2015)

Mr Edwin Tong Chun FaiMP for Moulmein-Kallang GRC (Jalan Besar)Chairman of Moulmein-Kallang Town Council

Ms Denise Phua Lay PengMayor of Central Singapore DistrictMP for Moulmein-Kallang GRC (Kampong Glam)Vice Chairman of Moulmein-Kallang Town Council

Mr Heng Chee HowSenior Minister of State, Prime Minister’s OfficeMP for Whampoa SMC

Associate Professor Yaacob IbrahimMinister for Communications and InformationMinister-in-charge of Muslim AffairsMinister-in-charge of Cyber SecurityMP for Moulmein-Kallang GRC (Kolam Ayer)

Mr Lui Tuck YewMinister for TransportSecond Minister for DefenceMP for Moulmein-Kallang GRC (Moulmein)

Elected Members

ChairmanMr Tan Wah Seng, BBM(L)

Vice ChairmanMr K J Nair, BBM

MembersMr Chin Chip Chon, PBMMr Khoo Swee How, PBMMr Pereira Chrysostom Martin

SecretaryMr Zhang Jiaquan

Assistant SecretaryMs Ho Xiuling

Commercial Premises Committee

ChairmanMr Eddie Lee Choy Peng, JP, BBM(L)

Vice ChairmanMr Michael Lew Choon Eng, BBM(L)

MembersMr Chang Kee Tong, PBMMr K J Nair, BBMMr Tan Choon Seng, PBMMr Victor Lee Chin Keng, PBM

SecretaryMr Cheah Sai Mun

Assistant SecretaryMr Zhang Jiaquan

Finance & Legal Committee

ChairmanMr Chua Lai Teck, JP, BBM(L)

Vice ChairmanMr Lau Chun Wai

MembersMr Tan Koon GekMr Tang Ang Cheong, PBM

SecretaryMs Juliana Ng

Assistant SecretaryMs Janet Chua

Publicity & Community Relations Committee

ChairmanMr Vincent Chua Chong Meng, BBM(L)

Vice ChairmanMr Alastair Tan Hwee Hor, PBM

MembersMr Chan Yew Tim, PBMMr Teng Kok Kwong, PBMMr Toh Yong Soon

SecretaryMr Ng Cheng Tee

Assistant SecretaryMs Jeanie Teo

Special Projects & Development Committee

ChairmanMr Wee Pang Kiat, JP, BBM

Vice ChairmanMr Ravinder Singh S/O Keval SinghMr Ricky Soh Chye Chuan

MembersMr Alastair Tan Hwee Hor, PBMMr Chan Yew Tim, PBMMr Chang Kee Tong, PBMMr Chin Chip Chon, PBMMr Eddy Tan, PBMMr Edmund Ng Hoi PinMr Eric See Chiau HwaMs Eunice Phng Ham Lui, PBM

Ms Foo Jee Buay, BBMMr Francis Ng Ngiap KhiangMr Ho Yen Koow, PBMMr Joseph Tan Hang Kim, PBMMr Khoo Swee How, PBMMr Lau Chin WaiMr Ma’il Bin Kanchil, PBMMr Michael Lew Choon Eng, BBM(L)Mr Mohamed IdreesMr Ong Keng ThiamMr Pereira Chrysostom MartinMr Tan Choon Seng, PBMMr Tan Koon GekMr Tang Ang Cheong, PBMMr Teng Kok Kwang, PBMMr Vincent Chua Chong Meng, BBM(L)

Resource MembersMr Lim Herh Kim, PBM Mr Ng Boon HockMr Teo Siang Yong, PBM

SecretaryMr Derrick Ng

Assistant SecretariesMr Ang Lam AnnMs Juliana Ng

Estate Management Committee


Financial Statements


INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OFMOULMEIN-KALLANG TOWN COUNCIL

(Established under the Town Councils Act, Cap. 329A)For the financial year ended 31 March 2015


STATEMENT OF FINANCIAL POSITION As At 31 March 2015


STATEMENT OF INCOME AND EXPENDITURE AND OTHER COMPREHENSIVE INCOME For the financial year ended 31 March 2015


S

TATE

MEN

T O

F C

HA

NG

ES IN

FUN

DS

F

or t

he fi

nanc

ial y

ea

r end

ed

31

Ma

rch

2015


STATEMENT OF CASH FLOWS For the financial year ended 31 March 2015


NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 March 2015


N

OTE

S TO

TH

E FI

NA

NC

IAL

STAT

EMEN

TS

F

or t

he fi

nanc

ial y

ea

r end

ed

31

Ma

rch

2015


This page has been intentionally left blank.

Moulmein-Kallang Town CouncilBlock 70 Geylang Bahru #01-2719 Singapore 330070

Tel: 6298 9222 I Fax: 6293 2117Email: [email protected] I Website: www.mktc.org.sg

FY 2014/2015

Documents

Transcript of FY 2014/2015