Page 8 - The Villager May 2021

\ II 'l 1/ l ' Estate News – Financials MARCH

~' l I '~'
\
IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
Summary Income Statement – March 2021
March 2021 Year to Date YTD Variance
Actual Budget Actual Budget Value %
Operational Income
Levy Income 1 219 576 1 207 154 1 219 576 1 207 154 12 422 1,0%
Other Income 159 208 148 361 159 208 148 361 10 847 7,3%
1 378 784 1 355 515 1 378 784 1 355 515 23 269 1,7%
Operational Expenditure

Professional /Administration 70 598 87 542 70 598 87 542 16 944 19,4%
Accounting and Auditing 41 426 41 237 41 426 41 237 (189) -0,5%
Insurance, Legal and Admin 29 172 46 305 29 172 46 305 17 133 37,0%

General Office 9 294 11 639 9 294 11 639 2 345 20,1%
“Adversity
Office Administration 9 294 11 639 9 294 11 639 2 345 20,1%
Operational Expenses 197 076 228 548 197 076 228 548 31 472 13,8%
Municipal Charges 29 818 42 960 29 818 42 960 13 142 30,6% does not build
General Operations 901 23 593 901 23 593 22 692 96,2%
Salaries & Wages 166 357 161 995 166 357 161 995 (4 362) -2,7% character, it
Security 554 565 498 442 554 565 498 442 (56 123) -11,3% reveals it.”
Security Operations 61 219 72 702 61 219 72 702 11 483 15,8%
Guarding Services 455 542 421 789 455 542 421 789 (33 753) -8,0% – James Lane Allen
Insurance Claims and Excess 37 804 3 951 37 804 3 951 (33 853) -856,8%
Repairs & Maintenance 217 654 181 558 217 654 181 558 (36 096) -19,9%
Repairs & Maintenance 74 580 38 484 74 580 38 484 (36 096) -93,8%
Park Maintenance Contract 143 074 143 074 143 074 143 074 0 0,0%
1 049 188 1 007 729 1 049 188 1 007 729 (41 459) -4,1%

Operating Profit / (Loss) 329 596 347 786 329 596 347 786
Non-Recurring Revenue 1 205 0 1 205 0 1 205 100,0%
Non-Recurring Expenses 15 668 63 686 15 668 63 686 48 018 75,4%
Net Positive/ (Negative) (14 463) (63 686) (14 463) (63 686) (46 813)
Net Profit / (Loss) 315 133 284 100 315 133 284 100
IRENE FARM VILLAGES HOME OWNERS ASSOCIATION Account Ability
Summary Levy Statements – March 2021
120+ 90 Days 60 Days 30 Days Current Total Previous Office Address:
Days Month Sovereign Drive,
Normal - Self Pay - - - 13 149 - 382 243 - 369 094 -367 628 Route 21
Normal - Debit Order - - - - - 5 605 - 5 605 -15 817 Corporate Park
- - - 13 149 - 387 848 - 374 699 -383 445
Debt Collection - AA (30/60 days) 210 3 171 9 305 26 482 26 977 66 145 86 837
Debt Collection - JJR (90+ days) 228 101 13 312 13 074 13 583 11 279 279 348 241 854 Accounting
Debt Collection - KSB (90+ days) 21 851 7 499 7 521 7 763 7 466 52 101 49 313 Office Hours
Sold - Previous Owner Accounts - - - - - 19 292 - 19 292 -16 378 8:00 to 13:00
In Transfer 16 849 2 555 2 577 8 265 - 7 068 23 177 20 223 Monday to Friday
Other - - 13 26 797 7 928 34 738 11 724
267 011 26 537 32 490 96 038 - 360 558 61 517 507,4% 10 127
Debt Collection - Acc > R200,000 982 527 32 115 17 728 11 095 8 582 1 052 048 -0,7% 1 059 477 Office Tel: 082 780 0059
1 249 538 58 652 50 218 107 133 - 351 976 1 113 565 4,1% 1 069 604
We want to thank all members who continue to pay their monthly levies so diligently. The total outstanding grew Accounts Email:
with only R43 961. The three accounts which owe more than R200 000 combined remain a challenge to collect. The accounts@aams.co.za
number of accounts owing more than three months reduced by one to 15; 60 days increased from 20 to 24; and 30
days jumped to 60 accounts of which many are small amounts, so it appears many members have not yet all adjust
their monthly set payments. Account Ability and the Estate Management are continuously driving collections to IFV Accounts:
ensure adequate cash flow to fulfil the HOA obligations.
Winny Boshoff
Irene Farm Villages Home Owners Association – Capital/ Development Projects
Current Approved Spent - Prior Spent March Total Spent Available
stage Budget Years 2021 to Date Budget
Upgrading of Gatehouses:
Main Gate Planned 4 600 000 99 901 - 99 901 4 500 099 Summary Income
North Gate In Progress 2 200 000 292 769 526 217 818 986 1 381 014
Office Relocation Planned 1 350 000 9 289 1 964 11 253 1 338 747 Statement by
Professional Fees In Progress 700 000 271 313 80 067 351 380 348 620 Account Ability
8 850 000 673 272 608 248 1 281 520 7 568 480
Contingency/Variation 400 000 - - - 400 000
Total 9 250 000 673 272 608 248 1 281 520 7 968 480

6 • Issue 5 2021 • The Villager