Page 8 - IFV_Issue 4_2022

Estate News – Financials FEBRUARY

IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
Summary Income Statement – February 2022
February 2022 Year to Date YTD Variance
Actual Budget Actual Budget Value %
Operational Income
Levy Income 1 261 013 1 252 905 14 891 445 14 860 547 30 898 0,2%
Other Income 60 917 18 000 560 895 500 084 60 811 12,2%
1 321 930 1 270 905 15 452 341 15 360 631 91 710 0,6% “Success is
Operational Expenditure not a place
Professional /Administration 66 393 114 229 1 007 486 1 122 459 114 973 10,2%
Accounting and Auditing 42 057 41 615 561 714 565 273 3 559 0,6% at which
Insurance, Legal and Admin 24 337 72 614 445 772 557 186 111 414 20,0%
one arrives
General Office 12 717 13 696 230 937 186 876 (44 061) -23,6%
Office Administration 12 717 13 696 230 937 186 876 (44 061) -23,6% but rather

Operational Expenses 325 302 225 582 3 470 898 3 275 179 (195 719) -6,0% the spirit
Municipal Charges 105 914 64 998 852 108 836 231 (15 877) -1,9%
General Operations 37 732 23 593 285 381 267 764 (17 617) -6,6% which one
Salaries & Wages 181 656 136 991 2 333 409 2 171 184 (162 225) -7,5%
undertakes
Security 356 619 528 258 6 206 941 6 362 434 155 493 2,4%
Security Operations 60 289 68 774 803 335 833 097 29 762 3,6% and continues
Guarding Services 457 500 455 533 5 469 886 5 466 459 (3 427) -0,1%
the journey.”
Insurance Claims and Excess (161 170) 3 951 (66 280) 62 878 129 158 205,4%
Repairs & Maintenance 177 273 187 501 2 277 975 2 297 065 19 090 0,8%
Repairs & Maintenance 27 045 37 274 496 709 515 803 19 094 3,7% – Alex Noble
Park Maintenance Contract 150 227 150 227 1 781 267 1 781 262 (5) 0,0%

938 304 1 069 266 13 194 237 13 244 013 49 776 0,4%
Operating Profit / (Loss) 383 626 201 639 2 258 103 2 116 618
Non-Recurring Revenue 15 205 0 100 324 0 100 324 100,0%
Non-Recurring Expenses 150 832 540 304 710 065 1 990 942 1 280 877 64,3%
Net Positive/ (Negative) (135 627) (540 304) (609 741) (1 990 942) (1 180 553)
Net Profit / (Loss) 247 999 (338 665) 1 648 362 125 676

IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
Summary Levy Statements – February 2022 Summary Income
120+ 90 Days 60 Days 30 Days Current Total Previous
Days Month Statement by EVERGREEN
Normal - Self Pay - - 1 572 4 503 -471 840 -465 764 -467 390
Normal - Debit Order - - - - -14 477 -14 477 -16 783 Account Ability
- - 1 572 4 503 -486 317 -480 242 -484 174
Debt Collection - AA (30/60 days) 37 767 14 024 65 454 82 750 74 231 274 226 212 672
Debt Collection - JJR (90+ days) 111 804 8 028 8 081 8 328 8 862 145 103 143 083
Debt Collection - KSB (90+ days) 57 380 8 055 8 082 8 153 7 716 89 386 85 983 Account Ability
Sold - Previous Owner Accounts - - - - -21 707 -21 707 -32 328
In Transfer 43 621 4 979 5 022 5 066 -4 214 54 475 39 608 Office Address:
Other 6 028 2 762 2 752 2 776 -4 860 9 457 18 793 Sovereign Drive,
256 600 37 849 90 963 111 576 -426 290 70 698 -532% -16 364
Debt Collection - Acc > R200,000 899 986 23 969 20 808 20 145 8 235 973 143 3,4% 940 845 Route 21
1 156 586 61 818 111 771 131 721 -418 055 1 043 840 12,9% 924 482 Corporate Park
We want to thank all members who continue to pay their monthly levies so diligently. The total outstanding increased by 12.9%
(R119 359). The HOA currently has three members owing the estate more than R200 000 each. Their month on month growth Accounting
accounted for R32 297. While only 7% of members are 30 days and more overdue, the concern is that the outstanding levies grew
with double digits for a second month in a row. The number of accounts owing more than three months remained at 21, with 60 days Office Hours
increasing to 32, and 30 days reduced to 46. We appeal to all members to keep their levy accounts up to date. Account Ability and the
Estate Management are continuously driving collections to ensure adequate cash flow to fulfil the HOA obligations. 8:00 to 13:00
Monday to Friday
Irene Farm Villages Home Owners Association – Capital/ Development Projects
Current Approved Spent Spent This Spent Total Spent Available Office Tel: 082 780 0059
stage Budget Prior Years Year to Prior November to Date Budget
Month 2021
Upgrading of Gatehouses: Accounts Email:
Main Gate Completed 4 600 000 99 902 4 264 166 27 327 4 391 395 208 605 accounts@aams.co.za
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 IFV Accounts:
Professional Fees In Progress 700 000 271 313 478 518 21 478 771 309 -71 309
8 850 000 673 273 7 282 149 48 805 8 004 227 845 773 Winny Boshoff
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 4 2022 • The Villager