Page 12 - Irene Farm Village 12 2021
P. 12

Estate News – Financials OCTOBER




                                  IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
                                        Summary Income Statement – October 2021
                                        October 2021     Year to Date     YTD Variance
                                      Actual  Budget   Actual  Budget   Value     %
             Operational Income
             Levy Income              1 252 906  1 207 154  9 848 930  9 657 232  191 698  2,0%
             Other Income                (941)  24 411  404 802  319 238  85 564  26,8%
                                     1 251 965  1 231 565 10 253 732  9 976 470  277 262  2,8%

             Operational Expenditure
             Professional /Administration  44 770  88 666  619 623  784 931  165 308  21,1%
             Accounting and Auditing    41 931  41 237  394 134  397 328  3 194    0,8%
             Insurance, Legal and Admin  2 840  47 429  225 490  387 603  162 113  41,8%
                                                                                             “If you’re
             General Office             14 349  13 696  117 718  107 421  (10 297)  -9,6%
             Office Administration      14 349  13 696  117 718  107 421  (10 297)  -9,6%      going
                                       246 013  231 125  2 069 491  1 848 692  (220 799)  -11,9%
             Operational Expenses
             Municipal Charges          59 860  45 537  571 119  353 988  (217 131)  -61,3%  through hell,
             General Operations         20 408  23 593  148 213  188 744  40 531  21,5%
                                                                                           keep going.”
             Salaries & Wages          165 745  161 995  1 350 158  1 305 960  (44 198)  -3,4%
             Security                  497 738  528 258  4 212 500  4 223 158  10 658  0,3%
             Security Operations       41 848   68 774  524 691  581 030  56 339   9,7%      – Winston
             Guarding Services         455 890  455 533  3 644 685  3 610 520  (34 165)  -0,9%  Churchill
             Insurance Claims and Excess   0     3 951   43 124  31 608  (11 516)  -36,4%
             Repairs & Maintenance     229 791  187 501  1 566 214  1 514 545  (51 669)  -3,4%
             Repairs & Maintenance     229 791  187 501  1 566 214  1 514 545  (51 669)  -3,4%
             Park Maintenance Contract     0       0        0       0        0    100,0%

                                      1 032 661  1 049 246  8 585 547  8 478 747  (106 800)  -1,3%
             Operating Profit / (Loss)  219 303  182 319  1 668 185  1 497 723
             Non-Recurring Revenue      3 780      0    51 853      0     51 853  100,0%
             Non-Recurring Expenses    103 744  68 686  393 577  1 240 449  846 872  68,3%
             Net Positive/ (Negative)  (99 964)  (68 686)  (341 725)  (1 240 449)  (795 019)
             Net Profit / (Loss)       119 339  113 633  1 326 461  257 274
                                                                                         Account Ability
             IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
             Summary Levy Statements – October 2021                                      Office Address:
                                  120+   90 Days  60 Days  30 Days  Current  Total  Previous   Sovereign Drive,
                                  Days                                           Month
             Normal - Self Pay         -     -     -  3 031 - 456 473  - 453 443     -447 371  Route 21
             Normal - Debit Order      -     -     -     -  - 27 439  - 27 439    -10 321  Corporate Park
                                       -     -     -  3 031 - 483 912  - 480 881     -457 693
             Debt Collection - AA (30/60 days)  32 069  13 390  30 625  61 123  62 910  200 118     166 206  Accounting
             Debt Collection - JJR (90+ days)  269 475  12 010  12 957  13 830  11 204  319 476     310 796  Office Hours
             Debt Collection - KSB (90+ days)  40 524  7 921  7 990  7 959  7 466  71 860     65 401
             Sold - Previous Owner Accounts  -  -  -     -  - 25 244  - 25 244    -34 760  8:00 to 13:00
             In Transfer           24 133  4 808  4 850  5 086  - 22 586  16 292     24 935  Monday to Friday
             Other                  3 783  2 661  2 696  2 732  2 502  14 374      9 643
                                  369 985  40 790  59 119  93 762 - 447 660  115 995  37%  84 529  Office Tel: 082 780 0059
             Debt Collection - Acc > R200,000  663 627  15 887  8 363  8 389  5 308  701 575  -39,3% 1 155 657
                                 1 033 612  56 677  67 482 102 151 - 442 353  817 570  -34,1% 1 240 186  Accounts Email:
             We want to thank all members who continue to pay their monthly levies so diligently. The total outstanding decreased
             substantially by 34% mostly due to the collection of one of the HOA’s big debtors. The HOA collected R460 000 as part of a   accounts@aams.co.za
             transfer of the property. The number of accounts owing more than three months increased to 22; with 60 days increasing to
             29; and 30 days increasing to 50. Account Ability and the Estate Management are continuously driving collections to ensure
             adequate cash flow to fulfil the HOA obligations.                           IFV Accounts:
             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  October   to Date  Budget
                                                    Month    2021
             Upgrading of Gatehouses:
             South Gate    Completed  4 600 000  99 902  2 716 806  944 405  3 761 113  838 887  Summary Income
             North Gate    Completed  2 200 000  292 769  1 806 178  2 550  2 101 497  98 503
             Office Relocation  Completed  1 350 000  9 289  696 328  11 644  717 261  632 739  Statement by
             Professional Fees  In Progress  700 000  271 313  357 905  77 521  706 739  - 6 739  Account Ability
                                    8 850 000  673 273  5 577 217  1 036 120  7 286 610  1 563 390
             Contingency/Variation     400 000     -                -            400 000
             Total                  9 250 000  673 273  5 577 217  1 036 120  7 286 610  1 963 390


             10  •  Issue 12  2021  •  The Villager
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