Page 8 - IFV_Issue 2_Feb_2022

Estate News – Financials DECEMBER

IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
Summary Income Statement – December 2021
December 2021 Year to Date YTD Variance
Actual Budget Actual Budget Value %
Operational Income
Levy Income 1 265 333 1 252 905 12 372 580 12 354 737 17 843 0,1%
Other Income 23 347 14 100 472 123 466 084 6 039 1,3%
1 288 680 1 267 005 12 844 703 12 820 821 23 882 0,2%
“The speed
Operational Expenditure
Professional /Administration 150 774 114 229 860 418 889 001 28 583 3,2%
Accounting and Auditing 41 994 41 615 478 058 477 043 (1 015) -0,2% of your
Insurance, Legal and Admin 108 781 72 614 382 360 411 958 29 598 7,2%
success is
General Office 23 154 13 696 165 387 159 484 (5 903) -3,7%
Office Administration 23 154 13 696 165 387 159 484 (5 903) -3,7%
limited only
Operational Expenses 561 281 472 410 2 889 782 2 829 014 (60 768) -2,1%
Municipal Charges 71 516 64 998 700 647 706 235 5 588 0,8% by your
General Operations 16 608 23 593 201 236 220 578 19 342 8,8%
Salaries & Wages 473 158 383 819 1 987 899 1 902 201 (85 698) -4,5%
dedication
Security 522 042 528 258 5 265 106 5 305 918 40 812 0,8%
Security Operations 76 573 68 774 672 739 695 549 22 810 3,3% and what
Guarding Services 455 890 455 533 4 556 465 4 555 393 (1 072) 0,0%
you’re willing
Insurance Claims and Excess (10 421) 3 951 35 903 54 976 19 073 34,7%
Repairs & Maintenance 183 797 187 501 1 942 828 1 922 063 (20 765) -1,1%
Repairs & Maintenance 33 569 37 274 462 016 441 255 (20 761) -4,7% to sacrifice.”
Park Maintenance Contract 150 227 150 227 1 480 812 1 480 808 (4) 0,0%
1 441 048 1 316 094 11 123 520 11 105 480 (18 040) -0,2% – Nathan Morris

Operating Profit / (Loss) (152 368) (49 089) 1 721 182 1 715 341
Non-Recurring Revenue 27 296 0 32 649 0 32 649 100,0%
Non-Recurring Expenses 91 786 183 746 600 934 1 134 652 533 718 47,0%
Net Positive/ (Negative) (64 490) (183 746) (568 284) (1 134 652) (501 069)
Net Profit / (Loss) (216 858) (232 835) 1 152 898 580 689
IRENE FARM VILLAGES HOME OWNERS ASSOCIATION Account Ability
Summary Levy Statements – December 2021
120+ 90 Days 60 Days 30 Days Current Total Previous Office Address:
Days Month Sovereign Drive,
Normal - Self Pay - - - 4 025 -422 206 -418 181 -445 269 Route 21
Normal - Debit Order - - - -27 -13 536 -13 563 -16 104
- - - 3 999 -435 743 -431 744 -461 372 Corporate Park
Debt Collection - AA (30/60 days) 30 418 14 313 25 138 60 532 73 618 204 020 180 271
Debt Collection - JJR (90+ days) 110 316 9 585 4 016 9 702 8 625 142 244 330 782 Accounting
Debt Collection - KSB (90+ days) 51 435 7 959 7 985 8 055 7 466 82 901 74 846 Office Hours
Sold - Previous Owner Accounts - - - - -29 847 -29 847 -25 708 8:00 to 13:00
In Transfer 33 792 4 893 4 936 4 979 -15 688 32 911 16 895 Monday to Friday
Other 3 140 2 732 2 756 2 762 2 652 14 042 15 280
229 103 39 483 44 830 90 029 -388 917 14 527 -89% 130 993
Debt Collection - Acc > R200,000 866 603 20 385 20 198 16 219 7 962 931 367 28,4% 725 641 Office Tel: 082 780 0059
1 095 706 59 867 65 029 106 248 -380 955 945 895 10,4% 856 634
We want to thank all members who continue to pay their monthly levies so diligently. The total outstanding increased by 10.4% to Accounts Email:
R89,26. 54% of the increase was as a result of accounts in the debt collection cycle, the balance are members who skipped their
December payments. The HOA currently has three members owing the Estate more than R200,000 each. We are expecting a good accounts@aams.co.za
recovery of the outstanding amounts in the near future. Account Ability and the Estate Management are continuously driving
collections to ensure adequate cash flow to fulfil the HOA obligations. The number of accounts owing more than three months
remained at 21; with 60 days reduced to 27; and 30 days increased to 51. 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 December to Date Budget
Month 2021
Upgrading of Gatehouses:
Main Gate Completed 4 600 000 99 902 4 264 166 27 327 4 391 395 208 605 Summary Income
North Gate Completed 2 200 000 292 769 1 808 728 2 101 497 98 503
Office Relocation Completed 1 350 000 9 289 730 737 740 026 609 974 Statement by
Professional Fees In Progress 700 000 271 313 478 518 21 478 771 309 -71 309 Account Ability
8 850 000 673 273 7 282 149 48 805 8 004 227 845 773
Contingency/Variation 400 000 - - - 400 000
Total 9 250 000 673 273 7 282 149 48 805 8 004 227 1 245 773

6 • Issue 2 2022 • The Villager