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TCSM Topic 4 Town Council Fund - Coggle Diagram
TCSM Topic 4 Town Council Fund
Introduction
Good & Service Tax (GST) Subvention - Disbursed to Town Council on quarterly basis and helps to offset increase in GST and S&CC for hdb household
Lift Maintenance Grant (LMG) - For lift-related servicing and maintenance cost, grant annual at $600 per lift maintained
Service & Conservancy Charges (S&CC) Operating Grant - Operating grant is disbursed for 4rm and smaller flats, high grant for smaller flat types
Lift Replacement Fund (LRF) Matching Grant - The LRF matching grant is disbursed to Town Councils every quarter, matching 50% of the Town Council’s quarterly and voluntary contributions to its LRF.
Establishing fund
Sinking Fund - Long-term non-lift related cyclical replacements and major repairs such as repainting, replacement of roofing system, pump, water supply system and electrical supply system
Lift Replacement Fund - Long-term lift related cyclical works
Operating Fund - Short-term expenses such as utilities cleaning, maintenance, servicing and general repair
Recovery of Arrears
if S&CC and interest owed after 30days, serve a written demand on the owner by
Send written demand by registered post to where he stay or known place of business
Affixing written demand on visible place of the flat
Send the written demand to the flat and hand to adult member of the household
If S&CC not paid within 14 days from the day of service of written demand
Initiate action for a debt in court
Sell the HDB flat belong to the owner
Lodge a claim with Small Claim Tribunals
Conditions Lodging a claim with the Small Claim Tribunals
Arrears not exceed $10,000
Claim is brought within a year from date of accrued arrears
Small Claim Tribunals
$50 fees for not exceeding $5,000, $100 fee exceed $5,000 but under $10,000
TC cannot engage a advocate or solicitor to represent them, it must be represented by a employee, managing agent or councillor
Town Council primarily funded by S&CC from residents and tenant. TC decide the rate for their estate.
To set a side minimum of 26% sinking fund from S&CC collected for management and maintenance, can set aside higher amount depending on condition of common property
Set aside 14% of Town Council fund for lift replacement
Institution Court Action for Debt
Town Council can apply for Writ of Summon and defendant wishes to defend against the claim have to appear before the court
Upon obtaining court order for non-payment arrears, TC can proceed with Writ of Seizure and sales of goods seized to pay for the arrears and court fees
The Town Council can enforce the Court by obtaining a warrant of seizure and sale over the owner's or tenant's moveable property
Sell the HDB flat belonging to the owner
Town Council has the power to sell a flat that owe S&CC for a long overdue period after serving a written demand other means of recovering the arrears