Page 8 - The Villager December 2020

Estate News – Financials OCTOBER

IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
Summary Income Statement – October 2020
October 2020 year to Date yTD Variance
Actual Budget Actual Budget Value %
Operational Income
Levy Income 1 166 332 1 166 333 9 272 482 9 272 479 3 0.0%
Other Income 24 662 32 500 331 907 414 333 (82 426) -19.9%
1 190 994 1 198 833 9 604 389 9 686 812 (82 423) -0.9%
“Money
Operational Expenditure
Professional /Administration 62 787 74 277 659 066 670 546 11 480 1.7% cannot buy
Accounting and Auditing 41 237 41 237 393 603 393 602 (1) 0.0%
Insurance, Legal and Admin 21 550 33 040 265 463 276 944 11 481 4.1% peace of mind.

General Office 14 743 11 306 48 314 44 863 (3 451) -7.7% It cannot
Office Administration 14 743 11 306 48 314 44 863 (3 451) -7.7%
heal ruptured
Operational Expenses 199 440 227 768 1 612 940 1 641 239 28 299 1.7%
Municipal Charges 31 877 52 444 285 202 305 752 20 550 6.7%
General Operations 20 459 21 003 126 388 126 931 543 0.4% relationships,
Salaries & Wages 147 105 154 321 1 201 350 1 208 556 7 206 0.6%
or build
Security 478 304 495 481 3 811 686 3 828 841 17 155 0.4%
Security Operations 56 515 66 024 430 955 440 450 9 495 2.2% meaning into
Guarding Services 421 790 421 257 3 374 319 3 373 780 (539) 0.0%
a life that has
Insurance Claims and Excess 0 8 200 6 413 14 611 8 198 56.1%
Repairs & Maintenance 157 789 177 104 1 047 154 1 066 451 19 297 1.8%
Repairs & Maintenance 14 715 34 030 195 525 214 825 19 300 9.0% none.”
Park Maintenance Contract 143 074 143 074 851 629 851 626 (3) 0.0%
913 064 985 936 7 179 160 7 251 940 72 780 1.0% – Richard M. DeVos
Operating Profit / (Loss) 277 930 212 897 2 425 229 2 434 872

Non-Recurring Revenue 7 240 0 62 660 69 700 (7 040) -10.1%
Non-Recurring Expenses 955 85 200 471 777 907 417 435 640 48.0%
Net Positive/ (Negative) 6 285 (85 200) (409 117) (837 717) (442 680)

Net Profit / (Loss) 284 215 127 697 2 016 112 1 597 155 Account Ability
IRENE FARM VILLAGES HOME OWNERS ASSOCIATION Office Address:
Summary Levy Statements – October 2020 Sovereign Drive,
Previous
120+ Days 90 Days 60 Days 30 Days Current Total Route 21
Month
Normal - Self Pay - - 0 2 811 -402 084 -399 272 -328 592 Corporate Park
Normal - Debit Order - - - - -21 237 -21 237 -12 761
- - 0 2 811 -423 321 -420 509 -341 353 Accounting
Debt Collection - AA (30/60 days) 7 145 4 083 14 103 33 821 34 830 93 981 145 224 Office Hours
Debt Collection - JJR (90+ days) 174 898 10 023 10 644 13 432 8 859 217 856 217 711 8:00 to 13:00
Debt Collection - KSB (90+ days) 13 118 5 673 5 699 10 241 7 045 41 775 48 959 Monday to Friday
Sold - Previous Owner Accounts - 1 715 -1 835 - -75 949 -76 069 -66 324
In Transfer 282 2 310 2 330 2 400 -8 578 -1 256 -6 297 Office Tel: 082 780 0059
Other - - 1 936 2 482 1 648 6 067 5 584
195 442 23 804 32 876 65 188 -455 466 -138 156 3 503 Accounts Email:
Debt Collection - Accounts > R200,000 913 745 20 171 19 831 24 102 10 329 988 178 -13.3% 1 139 197 accounts@aams.co.za
1 109 187 43 975 52 707 89 290 -445 137 850 023 -25.6% 1 142 700
We want to thank all members who continue to pay their monthly levies so diligently. Since the birth of the estate IFV Accounts:
20 years ago, after the outstanding debtors grew to over R1 000 000, this amount has only once before dropped below
that mark. Other than the three members, who combined owe more than R988 000, the HOA debtors book is actually in Winny Boshoff
credit with R138 156. Last month there was some movement in the number of accounts outstanding, but all in the right
direction. The number of accounts owing more than 3 months remained constant at 20; 60 days decreased from 25 to
22; 30 days from 55 to 54. Account Ability and the Estate Management are continuously driving collections to ensure
adequate cash flow to fulfil the HOA obligations. Great news is that we reached settlement with one of our > R200 000
accounts and received final payment in October 2020.
Summary Income
Irene Farm Villages Home Owners Association – Capital/ Development Projects
Current Stage Current Status Approved Actual Spend Available Statement by
Budget
Budget
To Date
Infrastructure Development Planning 8 797 910 724 799 8 073 111 Account Ability
Security Upgrade Project Define 1 700 000 1 583 234 116 766
Total 10 497 910 3 032 832 8 189 877
6 • Issue 12 2020 • The Villager