Page 11 - The Villager June 2021

Financials APRIL – Estate News

IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
Summary Income Statement – April 2021
April 2021 Year to Date YTD Variance
Actual Budget Actual Budget Value %
Operational Income
Levy Income 1 221 493 1 207 154 2 441 069 2 414 308 26 761 1,1%
Other Income 5 933 24 411 165 141 172 772 (7 631) -4,4%
1 227 425 1 231 565 2 606 209 2 587 080 19 129 0,7%
Operational Expenditure

Professional /Administration 62 521 89 148 133 122 176 690 43 568 24,7%
Accounting and Auditing 41 487 42 843 82 913 84 080 1 167 1,4% “Only buy
Insurance, Legal and Admin 21 035 46 305 50 209 92 610 42 401 45,8%
something
General Office 19 888 11 639 29 317 23 278 (6 039) -25,9%
that you’d
Office Administration 19 888 11 639 29 317 23 278 (6 039) -25,9%
Operational Expenses 217 538 228 548 431 542 457 096 25 554 5,6%
Municipal Charges 31 963 42 960 61 781 85 920 24 139 28,1% be perfectly
General Operations 17 019 23 593 34 848 47 186 12 338 26,1%
Salaries & Wages 168 556 161 995 334 913 323 990 (10 923) -3,4% happy to hold
Security 505 563 527 186 1 076 412 1 025 628 (50 784) -5,0% if the market
Security Operations 50 020 67 702 127 523 140 404 12 881 9,2%
Guarding Services 455 542 455 533 911 084 877 322 (33 762) -3,8% shut down for
Insurance Claims and Excess 0 3 951 37 804 7 902 (29 902) -378,4%
10 years.”
Repairs & Maintenance 185 347 181 558 403 001 363 116 (39 885) -11,0%
Repairs & Maintenance 42 274 38 484 116 854 76 968 (39 886) -51,8% – Warren Buffett
Park Maintenance Contract 143 074 143 074 286 147 286 148 1 0,0%
990 857 1 038 079 2 073 394 2 045 808 (27 586) -1,3%

Operating Profit / (Loss) 236 568 193 486 532 816 541 272
Non-Recurring Revenue 1 695 0 2 900 0 2 900 100,0%
Non-Recurring Expenses 1 222 138 686 16 890 202 372 185 482 91,7%
Net Positive/ (Negative) 473 (138 686) (13 990) (202 372) (182 582)
Net Profit / (Loss) 237 041 54 800 518 826 338 900
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 - - 1 489 16 603 - 396 314 - 378 222 -369 094 Route 21
Normal - Debit Order - - - - - 15 388 - 15 388 -5 605 Corporate Park
- - 1 489 16 603 - 411 702 - 393 610 -374 699
Debt Collection - AA (30/60 days) 3 381 4 784 9 060 44 092 47 723 109 040 66 145
Debt Collection - JJR (90+ days) 231 813 13 074 13 583 14 550 11 031 284 050 279 348 Accounting
Debt Collection - KSB (90+ days) 20 351 7 521 7 763 7 777 7 466 50 878 52 101 Office Hours
Sold - Previous Owner Accounts - - - - - 19 175 - 19 175 -19 292 8:00 to 13:00
In Transfer - - 5 584 4 546 - 11 941 - 1 811 23 177 Monday to Friday
Other - - 2 909 4 933 13 003 20 845 34 738
255 544 25 379 40 388 92 502 - 363 596 50 218 -18,4% 61 517
Debt Collection - Acc > R200,000 1 014 642 17 728 11 095 22 568 8 482 1 074 515 2,1% 1 052 048 Office Tel: 082 780 0059
1 270 187 43 107 51 483 115 069 - 355 113 1 124 733 1,0% 1 113 565
We want to thank all members who continue to pay their monthly levies so diligently. The total outstanding grew Accounts Email:
by only R11 168. 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 increased by one to 16; 60 days increased from 24 to 27; while
30 days reduced by 5 to 55 accounts. 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 - Prior Spent This Spent April Total Spent Available
stage Budget Years Year to Prior 2021 to Date Budget
Month
Upgrading of Gatehouses:
Main Gate Planned 99 901 99 901 4 500 099 Summary Income
North Gate In Progress 2 200 000 292 769 526 217 668 086 1 487 072 712 928
Office Relocation Planned 1 350 000 9 289 1 964 7 475 18 728 1 331 272 Statement by
Professional Fees In Progress 700 000 271 313 80 067 32 510 383 890 316 110 Account Ability
8 850 000 673 272 608 248 708 071 1 989 591 6 860 409
Contingency/Variation 400 000 400 000 - - 400 000
Total 9 250 000 673 272 608 248 708 071 1 989 591 7 260 409

The Villager • Issue 6 2021 • 9