# Town Councils' FY2022 Financial Statements and FY2022 Town Council Management Report (TCMR) - Governance Report - **Source:** Ministry of National Development - **Published:** 2023-11-30T04:00:00.000Z - **Author:** Ministry of National Development - **Original:** https://www.mnd.gov.sg/newsroom/press-releases/view/town-councils-fy2022-financial-statements-and-fy2022-town-council-management-report-(tcmr)-governance-report - **Topics:** Government & Policy, Investment & Capital Markets ## Featured rationale Higher operating and maintenance costs prompted S&CC increases or planned increases, potentially raising recurring housing expenses while helping Town Councils sustain estate services. ## AI summary All 17 Town Councils recorded poorer FY2022 financial positions, while 16 received “Green” governance bands and Chua Chu Kang received “Amber”. ## Original article Presentation of Town Councils’ FY2022 Financial Statements to Parliament The Ministry of National Development (MND) has presented the FY2022 audited financial statements of the 17 Town Councils (TCs) to Parliament and the TCs will be publishing them on their websites. All TCs had unqualified financial statements for FY2022. For FY2022, all TCs reported poorer financial positions, mainly due to cost pressures from higher water and electricity prices, lift maintenance, and other maintenance works. All TCs have either increased, or announced plans to raise their Service & Conservancy Charges (S&CC) rates in FY2023 and/or FY2024, which is expected to improve their financial positions. The Government will continue to monitor the TCs’ financial positions and assess if further support is required beyond ongoing assistance provided to all TCs, such as substantive operating grants and special funding support. Results of the FY2022 TCMR Governance Report The annual TCMR is published in two reports: (a) an operational report on Estate Cleanliness, Estate Maintenance, Lift Performance and S&CC Arrears Management indicators in the mid-year period; and (b) a governance report on Corporate Governance (CG), in the year-end period. MND had earlier released the FY2022 TCMR Operational Report covering TCs’ results for the four operational indicators (Estate Cleanliness, Estate Maintenance, Lift Performance and S&CC Arrears Management) on 22 June 2023. As for the governance report, MND has since completed the review of the TCs’ audited financial statements, their auditors’ reports, as well as checks on TCs’ declarations of compliance with the Town Councils Act and Rules. For FY2022, 16 TCs were banded “Green” and Chua Chu Kang TC (CCKTC) was banded “Amber” for its CG indicator. Four TCs, namely Aljunied-Hougang TC, East Coast TC, Jurong-Clementi TC and Marsiling-Yew Tee TC, each had a low severity observation for one non-compliance with the Town Councils Financial Rules or the Town Councils Act, and had 0.5 points for their CG scoring. These were cases of first-time administrative oversight that have since been rectified. As each of these TCs scored less than 1 point, the TCs were banded “Green” (see Annex for the CG banding table). CCKTC had two instances of non-compliance with the Town Councils Act, both of which were cases of administrative oversight that have since been rectified. There being more than one instance of the same type of non-compliance, this was considered as a medium severity observation. The TC scored 1 point for its CG scoring, thus receiving an “Amber” band. Details can be found in the full report. Enquiries Members of the public can refer to the TCs’ FY2022 financial statements on the respective TCs’ websites. The FY2022 TCMR Governance Report and TCs’ CG declarations can be found here. Issued by: Ministry of National Development Date: 30 Nov 2023 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 Town Councils Act will be considered high severity while a first-time administrative oversight that has been rectified will be considered low severity. ## Chinese translation > Translation model: grok_cli ### 市镇理事会2022财年财务报表及2022财年市镇理事会管理报告（TCMR）——治理报告 向国会呈交市镇理事会2022财年财务报表 国家发展部（MND）已向国会呈交17个市镇理事会（TC）的2022财年经审计财务报表，各市镇理事会将在其网站上予以公布。 所有市镇理事会的2022财年财务报表均获无保留意见。 就2022财年而言，所有市镇理事会的财务状况均有所转差，主要原因是水费和电价上升、电梯维修保养以及其他维修工程所带来的成本压力。所有市镇理事会已在2023财年及／或2024财年提高、或已宣布计划提高其服务与保守费（S&CC）费率，预计这将改善其财务状况。政府将继续监察市镇理事会的财务状况，并评估除目前向所有市镇理事会提供的持续援助（例如实质性营运津贴及特别资金支持）之外，是否需要进一步支持。 2022财年TCMR治理报告结果 年度TCMR分两份报告发布：（a）年中发布的运营报告，涵盖组屋区清洁、组屋区维修保养、电梯表现及S&CC欠费管理等指标；以及（b）年末发布的治理报告，涵盖企业治理（CG）。 MND较早前已于2023年6月22日发布2022财年TCMR运营报告，涵盖市镇理事会在四项运营指标（组屋区清洁、组屋区维修保养、电梯表现及S&CC欠费管理）方面的成绩。 至于治理报告，MND已完成对市镇理事会经审计财务报表、审计师报告的审核，以及对其遵守《市镇理事会法令》与相关规则声明的查核。就2022财年而言，16个市镇理事会在CG指标上获评为“绿色”等级，蔡厝港市镇理事会（CCKTC）获评为“琥珀色”等级。 四个市镇理事会，即阿裕尼—后港市镇理事会、东海岸市镇理事会、裕廊—金文泰市镇理事会及马西岭—油池市镇理事会，各自有一项低严重程度的观察事项，涉及一次未遵守《市镇理事会财务规则》或《市镇理事会法令》的情况，CG评分为0.5分。这些均为首次行政疏忽个案，现已纠正。由于上述各市镇理事会得分均少于1分，故获评为“绿色”等级（见附件中的CG评级表）。 CCKTC有两起未遵守《市镇理事会法令》的情况，均为现已纠正的行政疏忽个案。由于同一类型的违规超过一次，被视为中等严重程度观察事项。该市镇理事会CG评分为1分，因此获评为“琥珀色”等级。 详情见完整报告。 查询 公众可在各市镇理事会网站查阅其2022财年财务报表。2022财年TCMR治理报告及市镇理事会CG声明可在此查阅。 发布机构：国家发展部 日期：2023年11月30日 附件 TCMR企业治理评级表 治理指标 治理指标 绿色 绿色 琥珀色 琥珀色 红色 红色 企业治理 企业治理 < 1分[1] < 1分[1] 1至 < 2分 1至 < 2分 ≥ 2分 ≥ 2分 [1] 分数根据观察事项的严重程度评定。例如，构成《市镇理事会法令》下罪行的观察事项将被视为高严重程度，而首次且已纠正的行政疏忽将被视为低严重程度。