Page 12 - Irene Farm Village Issue 10 2021

Estate News – Financials AUGUST

IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
Summary Income Statement – August 2021
August 2021 Year to Date YTD Variance
Actual Budget Actual Budget Value %
Operational Income
Levy Income 1 233 370 1 207 154 7 345 896 7 242 924 102 972 1,4%
Other Income 38 142 24 411 374 243 270 416 103 827 38,4%
1 271 512 1 231 565 7 720 139 7 513 340 206 799 2,8%
Operational Expenditure

Professional /Administration 165 448 88 752 498 977 599 944 100 967 16,8%
Accounting and Auditing 106 923 41 237 316 098 314 854 (1 244) -0,4%
Insurance, Legal and Admin 58 525 47 515 182 879 285 090 102 211 35,9%

General Office 10 912 12 233 81 662 73 022 (8 640) -11,8%
Office Administration 10 912 12 233 81 662 73 022 (8 640) -11,8% “The goal isn’t
Operational Expenses 253 590 236 125 1 540 534 1 386 442 (154 092) -11,1% more money.
Municipal Charges 72 359 45 537 413 979 262 914 (151 065) -57,5%
General Operations 16 608 23 593 110 342 141 558 31 216 22,1% The goal is
Salaries & Wages 164 623 166 995 1 016 213 981 970 (34 243) -3,5%
living life on
Security 519 825 527 186 3 175 998 3 134 372 (41 626) -1,3% your terms.”
Security Operations 66 266 67 702 422 394 411 212 (11 182) -2,7%
Guarding Services 455 542 455 533 2 733 253 2 699 454 (33 799) -1,3%
Insurance Claims and Excess (1 984) 3 951 20 351 23 706 3 355 14,2% – Will Rogers
Repairs & Maintenance 188 359 187 501 1 147 910 1 129 543 (18 367) -1,6%
Repairs & Maintenance 38 132 37 274 268 008 249 640 (18 368) -7,4%
Park Maintenance Contract 150 227 150 227 879 903 879 903 0 0,0%
1 138 134 1 051 797 6 445 081 6 323 323 (121 758) -1,9%

Operating Profit / (Loss) 133 377 179 768 1 275 057 1 190 017
Non-Recurring Revenue 2 275 0 43 145 0 43 145 100,0%
Non-Recurring Expenses 42 454 368 686 273 643 838 077 564 434 67,3%
Net Positive/ (Negative) (40 179) (368 686) (230 498) (838 077) (521 289)
Net Profit / (Loss) 93 198 (188 918) 1 044 559 351 940
IRENE FARM VILLAGES HOME OWNERS ASSOCIATION Account Ability
Summary Levy Statements – August 2021
120+ 90 Days 60 Days 30 Days Current Total Previous Office Address:
Days Month Sovereign Drive,
Normal - Self Pay - - 500 - - 6 075 - 448 850 - 455 425 -432 421 Route 21
Normal - Debit Order - - - - - 28 893 - 28 893 -24 044 Corporate Park
- - 500 - - 6 075 - 477 743 - 484 318 -456 465
Debt Collection - AA (30/60 days) 21 983 10 430 25 429 43 695 43 673 145 211 104 014
Debt Collection - JJR (90+ days) 249 368 12 158 12 557 13 679 11 279 299 041 290 437 Accounting
Debt Collection - KSB (90+ days) 36 258 7 870 7 896 7 921 7 466 67 411 64 490 Office Hours
Sold - Previous Owner Accounts - - - - - 29 929 - 29 929 -18 471 8:00 to 13:00
In Transfer 19 158 4 715 4 781 4 848 - 27 651 5 851 -18 827 Monday to Friday
Other 66 2 579 2 638 2 661 - 1 521 6 423 3 238
326 834 37 252 53 301 66 730 - 474 426 9 690 -131% -31 585
Debt Collection - Acc > R200,000 1 082 574 18 664 18 937 19 161 8 482 1 147 819 4,9% 1 094 208 Office Tel: 082 780 0059
1 409 408 55 915 72 238 85 891 - 465 944 1 157 509 8,9% 1 062 623
We want to thank all members who continue to pay their monthly levies so diligently. The total outstanding increased slightly by Accounts Email:
R49 886, of which R45 000 relates to back-dated penalties charged to one of those accounts owing the estate > R200,000 for not accounts@aams.co.za
completing their building activities within the required timeline. Good news is that one of the HOA accounts owing R462 000 is
expected to settle in October 2021 as the house has been sold. The number of accounts owing more than three months remained
at 19; 60 days increased from 24 to 26; while 30 days dropped from 44 to 38 accounts. Account Ability and the Estate Management IFV Accounts:
are continuously driving collections to ensure adequate cash flow to fulfil the HOA obligations.
Irene Farm Villages Home Owners Association – Capital/ Development Projects Winny Boshoff
Current Approved Spent Spent This Spent Total Spent Available
stage Budget Prior Years Year to Prior August to Date Budget
Month 2021
Upgrading of Gatehouses:
South Gate In Progress 4 600 000 99 902 911 315 781 882 1 793 099 2 806 901 Summary Income
North Gate Completed 2 200 000 292 769 1 806 178 - 2 098 947 101 053
Office Relocation In Progress 1 350 000 9 289 694 528 1 800 705 617 644 383 Statement by
Professional Fees In Progress 700 000 271 313 304 919 14 000 590 232 109 768 Account Ability
8 850 000 673 273 2 691 392 1 025 548 5 187 895 3 662 105
Contingency/Variation 400 000 - - 400 000
Total 9 250 000 673 273 2 691 392 1 025 548 5 187 895 4 062 105

10 • Issue 10 2021 • The Villager