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[This summary is derived from the previous post by K.Bala (that post page has been removed). We apologize for any inconvenience caused. The same data appears on this post in numerical form. If anyone has any objection to this , please feel free to add a comment to explain the objection. We wish to retain our right to discuss the data without violating anyone else's rights. -Ed]
Question: How accurate or reliable is this data ?
Positives: The data matches up with the lease amount paid to SLA for GIIS Queenstown (exactly known), and our own estimate of tuition fees. Transfers to GIIS New Zealand, GIIS Japan, GIIS Thailand and GIIS Malaysia match up with the timeline where expansions were announced (2006).
Negatives/Doubtfuls: Small debits shown going to GIIS Australia, GIIS China and GIIS US ($30 only): These were pointed out to be non-existent. However, they could be just names of expense accounts. Amount paid to Julia Gabriel for Speech and Drama (about S$107K) has not been verified (help wanted). Transfer of about S$ 5,200 to IIM Bangalore matches timeline (2006) but can only be verified by contacting IIM Bangalore authorities (help wanted).
It is impossible to say with 100% certainty, but we are about 95% certain that the figures are real. But we encourage you to do your own analysis and independent verification.
Question: Why are these data relevant to parents ?
Answer: The discussions on the fee hike are constrained by lack of data on costs including the campus lease/rental charge, bus service charges etc which were blamed as the major factors for the fee hike. Parents wish to have the data so that they can analyse the numbers and be well informed before making their judgement on the hike.
We request GIIS/GIF not to withhold information which is important to parents.
The highlights for GIIS Queenstown (Year 2006) are as follows:
GIIS QT has "transferred" or "donated" S$ 1.94 million to GIF in 2006.
GIIS QT has transferred S$ 415,327 to GIIS New Zealand.
GIIS QT has paid about S$5,200 to IIM Bangalore.
GIIS QT has paid $640,368 to Indian Schools Pte Ltd.
GIIS QT has received about S$8.995 million in Tuition Fees.
GIIS QT has received about S$2.4 million in Bus Fees.
GIIS QT has paid about S$1.38 milion as Bus Payments.
GIIS QT has paid S$1,289044 as lease (rental) to SLA.
GIIS QT has spent about S$167 K as cleaning expenditures
GIIS QT has spent about S$292 K on advertising
GIIS QT has spent about S$61 K on guests and dignitaries.
GIIS QT turned a profit of about S$ 3.8 million after all the outflows were considered (including transfers as noted above).
[Images removed 25/03/2008, see numbers above instead -Ed]
We request GIF to refute the above accounts if they are wrong, and publish their true accounts. (We have always welcomed GIIS/GIF management to join this blog)
A request to all commentators: Please avoid personal attacks. Thank you.
ALL 7 COMMENTS WHICH APPEARED ON THE PREVIOUS POST ARE RETAINED BELOW:
Comments Policy: Comments are welcome but no personal attacks please. Thanks for your support.
What is the credibility of the financial information presented here? Is the originator of this blog a decendent of Raja Bhoj that one should believe his/her word?
What is the proof that these are indeed figures from GIIS's accounts?
Anyone could type up these figures, put red markings, scan and post them on the blog!
Mr. Bala, do other schools in Singapore make their accounts open to the parents of their students? Why are you singling out GIF to make their accounts public?
Have you seen DPS's accounts or NPS's accounts?
Good point. This is the way we should all think !
The lease amount tallies correctly with SLA government figures. The bus fee collection and tuition fees also tallies roughly. We should approach MMI etc for the other parts as suggested.
If AT&Co get worked up by these revelations and send 'trolls' to sling mud in this forum, and 'thugs' to abuse suspects.. then we know for sure these figures are real !
If AT&Co publishes the true accounts, then we will immediately know whether these numbers are correct or not... But knowing AT&Co... they will never publish the truth !
So we parents are in a fix. Who to believe ?
HOT News
[May 2009: EDITED sentence below based on objection raised in ref: Bodhankar Affidavit of 9 May 2009 paragraph 4(iv), page 4]
Commissioner of Charities deregisters three dubious charities..
http://www.getformesingapore.com/previous2007/020507_commissionerofcharitiesderegistersthreedubiouscharities.htm
Taking about 2000 parents together "donated" about $2 mil to GIF, then each "donated" about S$1000 a year. I would like to know.. how did GIF spend the money ?
AT on The Mahatma Gandhi Center for Values and Thoughts
http://www.rsi.sg/english/youngexpressions/view/20050402162441/1/.html
Yes credibility of data is questionable but why to compare with DPS and NPS ? Do they claim to be Non profit organization?
Don't forget that our motive here is to have a better GIIS not better NPS or DPS. The discussion about account has started because of the unjustified increment in school fees and Bus fees. We have the right to know where the money is being used.