Page 10 - The Villager April 2021

Estate News – Financials FEBRUARY

IRENE FARM VILLAGEs HOME OwNERs AssOCIATION
summary Income statement – February 2021
February 2021 year to Date yTD Variance
Actual Budget Actual Budget Value %
Operational Income
Levy Income 1 166 332 1 166 333 13 937 812 13 937 811 1 0.0%
Other Income 96 712 32 500 523 626 544 333 (20 707) -3.8%
1 263 045 1 198 833 14 461 438 14 482 144 (20 706) -0.1%
Operational Expenditure
Professional /Administration 79 940 74 277 970 245 988 554 18 309 1.9%
Accounting and Auditing 41 237 41 237 560 311 562 550 2 239 0.4%
Insurance, Legal and Admin 38 703 33 040 409 934 426 004 16 070 3.8%
General Office 7 216 11 306 96 638 107 587 10 949 10.2%
Office Administration 7 216 11 306 96 638 107 587 10 949 10.2% “Life is
Operational Expenses 297 890 239 308 2 809 456 2 754 259 (55 197) -2.0% 10% what
Municipal Charges 117 041 52 444 609 113 515 528 (93 585) -18.2%
General Operations 23 308 22 543 225 463 227 103 1 640 0.7% happens to us
salaries & wages 157 541 164 321 1 974 880 2 011 628 36 748 1.8%
Security 471 066 491 865 5 588 891 5 811 549 222 658 3.8% and 90% how
security Operations 49 277 62 408 602 397 705 330 102 933 14.6%
Guarding services 421 790 421 257 5 061 478 5 058 808 (2 670) -0.1% we react to it.”
Insurance Claims and Excess 0 8 200 (74 984) 47 411 122 395 258.2%
– Dennis P. Kimbro
Repairs & Maintenance 163 688 186 854 1 744 554 1 841 025 96 471 5.2%
Repairs & Maintenance 20 614 43 780 320 631 417 103 96 472 23.1%
Park Maintenance Contract 143 074 143 074 1 423 923 1 423 922 (1) 0.0%

1 019 799 1 003 610 11 209 784 11 502 974 293 190 2.5%

Operating Profit / (Loss) 243 245 195 223 3 251 655 2 979 170
Non-Recurring Revenue 9 850 0 116 070 69 700 46 370 66.5%
Non-Recurring Expenses 187 068 105 200 676 663 1 395 727 719 064 51.5%
Net Positive/ (Negative) (177 218) (105 200) (560 593) (1 326 027) (672 694)
Net Profit / (Loss) 66 027 90 023 2 691 062 1 653 143
IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
Summary Levy Statements – February 2021
Previous Account Ability
120+ Days 90 Days 60 Days 30 Days Current Total
Month
Normal - Self Pay - - - 14 393 - 382 021 - 367 628 -392 761 Office Address:
Normal - Debit Order - - - - - 15 817 - 15 817 -5 913 sovereign Drive,
- - - 14 393 - 397 838 - 383 445 -398 673 Route 21
Debt Collection - AA (30/60 days) 4 764 3 894 12 617 31 652 33 910 86 837 111 353
Debt Collection - JJR (90+ days) 195 271 15 456 11 102 10 845 9 180 241 854 241 011 Corporate Park
Debt Collection - KSB (90+ days) 19 441 7 411 7 499 7 521 7 441 49 313 64 637
Sold - Previous Owner Accounts - - - - - 76 378 - 76 378 -76 456 Accounting
In Transfer 9 768 2 493 2 515 2 537 2 910 20 223 -1 363 Office Hours
Other 830 - 2 765 2 803 5 326 11 724 2 558
230 074 29 254 36 498 69 750 - 415 449 - 49 873 -12.4% -56 933 8:00 to 13:00
Debt Collection - Accounts > R200,000 989 238 20 723 34 325 19 957 - 4 767 1 059 477 0.5% 1 054 616 Monday to Friday
1 219 313 49 978 70 823 89 707 - 420 216 1 009 604 1.2% 997 683
we want to thank all members who continue to pay their monthly levies so diligently. The total outstanding grew Office Tel: 082 780 0059
with only R11 992. The three accounts that owe more than R200 000 combined, owe more than the rest of the Estate
comprising 654 members. The number of accounts owing more than three months remained at 16 accounts; 60 days
remained at 20; and 30 days came down from 40 to 24. Account Ability and the Estate Management are continuously Accounts Email:
driving collections to ensure adequate cash flow to fulfil the HOA obligations.
accounts@aams.co.za
Irene Farm Villages Home Owners Association – Capital/ Development Projects
Current Approved Spent - Spent Feb Spent Feb Spent Feb Total Spent Available
stage Budget Prior Years 2019 2020 2021 to Date Budget IFV Accounts:
Upgrading of 9 300 000 - 170 155 9 771 493 346 673 272 8 626 728 winny Boshoff
Gatehouses:
Main Gate Planned 4 600 000 99 901 99 901 4 500 099
North Gate In Progress 2 200 000 292 769 292 769 1 907 231
Office Relocation Planned 1 400 000 9 289 9 289 1 390 711
Professional Fees In Progress 715 000 170 155 9 771 91 387 271 313 443 687
Contingency/Variation 385 000 - 385 000 Summary Income
Power Solution Project Completed 2 000 000 2 136 037 2 136 037 - Statement by
CCTV Project Completed 1 710 000 697 451 697 451 1 012 549
Land Purchase Project Completed 2 280 000 2 282 850 2 282 850 - account ability
Acess Control Network Completed 1 700 000 1 588 177 1 588 177 111 823
Upgrade Project
Total 16 990 000 2 282 850 3 003 643 1 597 948 493 346 7 377 787 9 751 100

8 • Issue 4 2021 • The Villager