Page 10 - The Villager September 2021

Estate News – Financials JULY

IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
Summary Income Statement – July 2021
July 2021 Year to Date YTD Variance
Actual Budget Actual Budget Value %
Operational Income
Levy Income 1 226 251 1 207 154 6 112 526 6 035 770 76 756 1,3%
Other Income 48 737 24 411 336 101 246 005 90 096 36,6%
1 274 988 1 231 565 6 448 627 6 281 775 166 852 2,7%
Operational Expenditure

Professional /Administration 69 854 154 578 333 529 511 192 177 663 34,8%
Accounting and Auditing 41 552 107 063 209 174 273 617 64 443 23,6%
Insurance, Legal and Admin 28 301 47 515 124 355 237 575 113 220 47,7%

General Office 11 956 12 233 70 750 60 789 (9 961) -16,4% “A budget is
Office Administration 11 956 12 233 70 750 60 789 (9 961) -16,4%
telling your
Operational Expenses 249 830 231 125 1 146 770 1 150 317 3 547 0,3%
Municipal Charges 62 599 45 537 201 446 217 377 15 931 7,3% money where
General Operations 16 608 23 593 93 734 117 965 24 231 20,5%
Salaries & Wages 170 623 161 995 851 589 814 975 (36 614) -4,5% to go, instead
of wondering
Security 527 157 527 186 2 656 173 2 607 186 (48 987) -1,9%
Security Operations 71 614 67 702 356 127 343 510 (12 617) -3,7% where it went.”
Guarding Services 455 542 455 533 2 277 711 2 243 921 (33 790) -1,5%
Insurance Claims and Excess 0 3 951 22 335 19 755 (2 580) -13,1%
– Dave Ramsey
Repairs & Maintenance 199 474 188 497 959 551 942 042 (17 509) -1,9%
Repairs & Maintenance 42 093 38 270 229 876 212 366 (17 510) -8,2%
Park Maintenance Contract 157 381 150 227 729 675 729 676 1 0,0%
1 058 270 1 113 619 5 166 773 5 271 526 104 753 2,0%

Operating Profit / (Loss) 216 718 117 946 1 281 854 1 010 249
Non-Recurring Revenue 5 975 0 2 620 0 2 620 100,0%
Non-Recurring Expenses 30 753 20 507 231 189 469 391 238 202 50,7%
Net Positive/ (Negative) (24 778) (20 507) (228 569) (469 391) (235 582)
Net Profit / (Loss) 191 941 97 439 1 053 285 540 858
IRENE FARM VILLAGES HOME OWNERS ASSOCIATION Account Ability
Summary Levy Statements – July 2021
120+ 90 Days 60 Days 30 Days Current Total Previous Office Address:
Days Month Sovereign Drive,
Normal - Self Pay - - 28 11 268 - 443 717 - 432 421 -492 663 Route 21
Normal - Debit Order - - - - - 24 044 - 24 044 -10 517 Corporate Park
- - 28 11 268 - 467 761 - 456 465 -503 180
Debt Collection - AA (30/60 days) 12 194 9 782 12 384 34 906 34 748 104 014 105 834
Debt Collection - JJR (90+ days) 239 167 12 536 13 875 13 605 11 254 290 437 303 032 Accounting
Debt Collection - KSB (90+ days) 33 413 7 846 7 870 7 896 7 466 64 490 61 594 Office Hours
Sold - Previous Owner Accounts - - - - - 18 471 - 18 471 -15 942 8:00 to 13:00
In Transfer 10 130 4 586 4 676 6 196 - 44 415 - 18 827 -13 712 Monday to Friday
Other - 1 566 2 579 2 638 - 3 545 3 238 -3 998
294 904 36 315 41 412 76 509 - 480 725 - 31 585 -52% -66 372
Debt Collection - Acc > R200,000 1 052 033 11 041 11 164 11 187 8 782 1 094 208 0,7% 1 086 320 Office Tel: 082 780 0059
1 346 936 47 357 52 576 87 696 - 471 942 1 062 623 4,2% 1 019 948
We want to thank all members who continue to pay their monthly levies so diligently. The total outstanding increased Accounts Email:
slightly by R 42 675. 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 remained at 19; 60 days decreased from 27 to 24; while 30 days
jumped from 36 to 44 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 Spent This Spent July Total Spent Available
stage Budget Prior Years Year to Prior 2021 to Date Budget
Month
Upgrading of Gatehouses:
South Gate In Progress 4 600 000 99 902 204 251 707 064 1 011 217 3 588 783 Summary Income
North Gate In Progress 2 200 000 292 769 1 806 178 - 2 098 947 101 053
Office Relocation In Progress 1 350 000 9 289 442 271 252 257 703 817 646 183 Statement by
Professional Fees In Progress 700 000 271 313 238 692 66 227 576 232 123 768 Account Ability
8 850 000 673 273 2 691 392 1 025 548 4 390 213 4 459 787
Contingency/Variation 400 000 - - 400 000
Total 9 250 000 673 273 2 691 392 1 025 548 4 390 213 4 859 787

8 • Issue 9 2021 • The Villager