Town Council Funds
After going through Teo Ho Pin's explanation on the investment of Town Council Funds, I got the impression that the investment objective is just to invest for better returns. But the returns will not be translated to direct benefits to the residents. It is just investment for investment's sake. Thought any gains should be returned to the residents in some ways like lower S&C charges. The other point that came through is that the investment is for long term and gains or losses do not mean anything or have no impact on the residents. They will not affect the residents in anyway. Really? Another point I thought Teo Ho Pin should address is the Sinking Fund. How much is enough? The NKF's 20 year reserves came to mind. There must be a limit on how much should be set aside and when enough, the burden of payment by the residents could be proportionately reduced. What we are hearing is that residents shall keep paying regardless of how much is already in the reserve. Collection of public money must be capped at some point. It must not be unlimited and unconditional.