# Town Councils’ FY2021 Financial Statements And FY2021 Town Council Management Report (TCMR) – Governance Report - **Source:** Ministry of National Development - **Published:** 2022-12-07T04:00:00.000Z - **Author:** Ministry of National Development - **Original:** https://www.mnd.gov.sg/newsroom/press-releases/view/town-councils-fy2021-financial-statements-and-fy2021-town-council-management-report-(tcmr)-governance-report - **Topics:** HDB & Public Housing, Government & Policy, Investment & Capital Markets ## Featured rationale Sound governance and continued government grants may help Town Councils manage rising costs, potentially limiting pressure on estate services and residents’ charges. ## AI summary All 17 Town Councils received unqualified FY2021 financial statements and Green governance ratings, despite higher energy, manpower and maintenance-service costs. ## Original article PRESS RELEASE TOWN COUNCILS’ FY2021 FINANCIAL STATEMENTS AND FY2021 TOWN COUNCIL MANAGEMENT REPORT (TCMR) – GOVERNANCE REPORT Presentation of Town Councils’ FY2021 Financial Statements to Parliament The Ministry of National Development (MND) has presented the FY2021 audited financial statements of the 17 Town Councils (TCs) to Parliament and the TCs will be publishing them on their websites. 2. All TCs had unqualified financial statements for FY2021. While the TCs have generally reported surpluses for FY2021, TCs faced significant cost pressures due to higher energy prices, higher manpower costs and higher costs of maintenance services. 3. Cost increases, such as energy price increases, are not unique to Singapore, but the Government takes steps to partially cushion the impact on residents. To help TCs meet their operational costs, the Government has been providing grants such as the S&CC Operating Grant, GST Subvention Grant, Lift Maintenance Grant and Lift Replacement Fund Matching Grant. We have also provided S&CC rebates to HDB residents to help them cope with the increase in cost of living. The Government will continue to monitor the TCs’ financial positions, taking into account these cost pressures. Results of the FY2021 TCMR Governance Report 4. From FY2021, the annual TCMR is split into two reports: (a) an operational report on Estate Cleanliness, Estate Maintenance, Lift Performance and S&CC Arrears Management indicators, to be published in the mid-year period; and (b) a governance report on Corporate Governance (CG), to be published during the year-end period. The methodology for assessing the CG indicator has also been revised, to consider the severity of observations[1], and not just the number of observations. 5. MND had earlier released the FY2021 TCMR Operational Report covering TCs’ results for the four operational indicators (Estate Cleanliness, Estate Maintenance, Lift Performance and S&CC Arrears Management) on 29 June 2022. 6. MND has since received and completed the review of the TCs’ audited financial statements, their auditor’s report as well as checks on TCs’ declarations of compliance with the TCs Act and Rules. For FY2021, all TCs were banded “Green” for their CG indicator. Two TCs, Jurong-Clementi TC and Pasir Ris-Punggol TC, each had a low severity non-compliance with Town Councils Financial Rules or the Town Councils Act and scored 0.5 point for their CG scoring. These non-compliances were first-time administrative oversight that had been rectified. As the total scores for both TCs were less than 1 point, both TCs were banded “Green” (see Annex for the CG banding table). Details can be found in the full report. Enquiries 7. Members of the public can refer to the TCs’ FY2021 financial statements on the respective TCs’ websites. The FY2021 TCMR Governance Report and TCs’ CG declarations can be found here. Issued by: Ministry of National Development Date: 7 Dec 2022 Annex TCMR Corporate Governance Banding Table Governance Indicator Governance Indicator Green Green Amber Amber Red Red Corporate Governance Corporate Governance < 1 point[1] < 1 point[1] 1 to < 2 points 1 to < 2 points ≥ 2 points ≥ 2 points [1] Points are assigned based on severity of the observations. For instance, an observation which constitutes an offence under the TCs Act will be considered high severity while a first-time administrative oversight that has been rectified will be considered low severity. [1] These refer to governance-related observations raised by the TCs’ auditors and/or discovered through MND’s checks on TCs’ declarations of compliance with the TCs Act and Rules. ## Chinese translation > Translation model: grok_cli ### 市镇理事会2021财年财务报表及2021财年市镇理事会管理报告（TCMR）——管治报告 新闻稿 市镇理事会2021财年财务报表 及2021财年市镇理事会管理报告（TCMR）—— 管治报告 向国会提呈市镇理事会2021财年财务报表 国家发展部（MND）已向国会提呈17个市镇理事会（TC）经审计的2021财年财务报表，各市镇理事会将在其网站上公布相关报表。 2. 所有市镇理事会2021财年的财务报表均为无保留意见。虽然各市镇理事会2021财年普遍录得盈余，但由于能源价格上涨、人力成本上升以及维修服务成本增加，市镇理事会面临显著的成本压力。 3. 成本上涨，例如能源价格上涨，并非新加坡独有，但政府采取措施部分减轻对居民的影响。为协助市镇理事会应对营运成本，政府一直提供津贴，例如服务与杂费（S&CC）营运津贴、消费税补助津贴、电梯维修津贴以及电梯更换基金配套津贴。我们亦向组屋居民提供服务与杂费回扣，以协助他们应对生活成本上升。政府将继续关注市镇理事会的财务状况，并考虑这些成本压力。 2021财年TCMR管治报告结果 4. 自2021财年起，年度TCMR分为两份报告：（a）关于组屋区清洁、组屋区维修保养、电梯表现以及服务与杂费欠款管理指标的营运报告，于年中期间发布；以及（b）关于企业管治（CG）的管治报告，于年底期间发布。评估企业管治指标的方法亦已修订，以考虑观察事项的严重程度[1]，而非仅看观察事项数量。 5. 国家发展部较早前已于2022年6月29日发布涵盖四项营运指标（组屋区清洁、组屋区维修保养、电梯表现以及服务与杂费欠款管理）的2021财年TCMR营运报告。 6. 国家发展部此后已收到并完成对市镇理事会经审计财务报表、审计师报告的审查，以及对市镇理事会就其遵守《市镇理事会法令》及相关条规所作声明的核查。2021财年，所有市镇理事会的企业管治指标均获评为“绿色”等级。裕廊-金文泰市镇理事会和巴西立-榜鹅市镇理事会各有一宗严重程度较低的、不符合市镇理事会财务条规或《市镇理事会法令》的情况，企业管治评分各得0.5分。这些不合规属首次发生的行政疏忽，并已纠正。由于两市镇理事会的总分均少于1分，两者均获评为“绿色”等级（企业管治分级表见附件）。详情载于完整报告。 查询 7. 公众可分别于各市镇理事会网站查阅其2021财年财务报表。2021财年TCMR管治报告及市镇理事会企业管治声明可在此处查阅。 发布机构：国家发展部 日期：2022年12月7日 附件 TCMR企业管治分级表 管治指标 管治指标 绿色 绿色 琥珀色 琥珀色 红色 红色 企业管治 企业管治 < 1分[1] < 1分[1] 1至< 2分 1至< 2分 ≥ 2分 ≥ 2分 [1] 分数按观察事项的严重程度评定。例如，构成违反《市镇理事会法令》罪行的观察事项将视为高严重程度，而已纠正的首次行政疏忽则视为低严重程度。 [1] 这些是指由市镇理事会审计师提出、及/或国家发展部在核查市镇理事会就其遵守《市镇理事会法令》及相关条规所作声明时发现的与管治相关的观察事项。