Singaporean and TOC writer, Gilbert Goh, has set up a Facebook group and an online petition calling for town councils (TCs) to provide more transparency in their financial dealings.
“More transparency [is] needed from all town councils on the investible profit/loss statement all these years other than those listed in the annual financial statement,” the petition says. “We prefer a clearer detailed reporting.”
It also asks the TCs to give residents more say on whether they want to limit the current investible amount of the TCs' sinking funds into risky investment from the current 35%.
“We are clearly uncomfortable with the investment into risky instruments however small it is.”
The petition wants town councils to adopt a more consultative approach on how the estates are managed as well.
In the Facebook group, Mr Goh asks if residents are over-paying service & conservancy fees when the TCs have “a $2 billion surplus”.
”Should the advisory committee sitting on town councils includes residents other than those appointed by the winning elected MPs?” he asks.
You can sign the petition here.
Join the Facebook group here.
Read about town councils' investments on TOC here.