Page 10 - IFV_Issue 5_May_2022

Estate News – Financials MARCH

IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
Summary Income Statement – March 2022
March 2022 Year to Date YTD Variance
Actual Budget Actual Budget Value %
Operational Income
Levy Income 1 306 698 1 301 878 1 306 698 1 301 878 4 820 0,4%
Other Income 154 506 148 703 154 506 148 703 5 803 3,9%
1 461 205 1 450 581 1 461 205 1 450 581 10 624 0,7%
Operational Expenditure
Professional /Administration 68 879 102 410 68 879 102 410 33 531 32,7%
Accounting and Auditing 44 010 43 883 44 010 43 883 (127) -0,3%
Insurance, Legal and Admin 24 868 58 527 24 868 58 527 33 659 57,5% “If you can’t
General Office 7 668 24 042 7 668 24 042 16 374 68,1% stop thinking
Office Administration 7 668 24 042 7 668 24 042 16 374 68,1%
about it, don’t
Operational Expenses 214 364 272 544 214 364 272 544 58 180 21,3%
Municipal Charges 38 924 78 478 38 924 78 478 39 554 50,4% stop working
General Operations 11 181 20 170 11 181 20 170 8 989 44,6%
Salaries & Wages 164 259 173 896 164 259 173 896 9 637 5,5% for it.”

Security 544 523 570 651 544 523 570 651 26 128 4,6%
Security Operations 65 464 96 823 65 464 96 823 31 359 32,4% – Unknown
Guarding Services 469 680 469 680 469 680 469 680 0 0,0%
Insurance Claims and Excess 9 379 4 148 9 379 4 148 (5 231) -126,1%

Repairs & Maintenance 192 612 214 560 192 612 214 560 21 948 10,2%
Repairs & Maintenance 42 384 51 278 42 384 51 278 8 894 17,3%
Park Maintenance Contract 150 227 163 282 150 227 163 282 13 055 8,0%

1 028 045 1 184 207 1 028 045 1 184 207 156 162 13,2%
Operating Profit / (Loss) 433 159 266 374 433 159 266 374
Non-Recurring Revenue 52 760 0 52 760 0 52 760 100,0%
Non-Recurring Expenses 8 750 75 624 8 750 75 624 66 874 88,4%
Net Positive/ (Negative) 44 010 (75 624) 44 010 (75 624) (14 114)
Net Profit / (Loss) 477 170 190 750 477 170 190 750

IRENE FARM VILLAGES HOME OWNERS ASSOCIATION
Summary Levy Statements – March 2022 Summary Income
120+ 90 Days 60 Days 30 Days Current Total Previous
Days Month Statement by
Normal - Self Pay - - - 6 027 -508 819 -502 793 -465 764
Normal - Debit Order - - - 3 697 -26 631 -22 934 -14 477 Account Ability
- - - 9 724 -535 451 -525 727 -480 242
Debt Collection - AA (30/60 days) 31 972 29 521 43 603 93 847 74 394 273 337 274 226
Debt Collection - JJR (90+ days) 66 851 4 457 4 478 4 863 3 913 84 561 145 103
Debt Collection - KSB (90+ days) 65 435 8 082 8 153 8 430 7 716 97 816 89 386 Account Ability
Sold - Previous Owner Accounts - - - 2 832 -27 074 -24 243 -21 707
In Transfer 48 600 5 022 5 066 5 267 8 238 72 193 54 475 Office Address:
Other - - - 10 830 -30 090 -19 260 9 457 Sovereign Drive,
212 858 47 082 61 300 135 793 -498 354 -41 321 -158% 70 698
Debt Collection - Acc > R200,000 916 955 20 808 20 145 21 662 8 135 987 704 1,5% 973 143 Route 21
1 129 813 67 889 81 445 157 455 -490 219 946 383 -9,3% 1 043 840 Corporate Park
We want to thank all members who continue to pay their monthly levies so diligently. The total outstanding reduced by 9.2% (R97 457).
The HOA currently has three members owing the estate more than R200 000 each. Their month-on-month increase accounted for Accounting
R14 562. Looking at the balance of our current 668 members, the net is actually in arrears by R41 321. However, our work is not done,
as 166 members owe the estate a combined amount of R732 779. We appeal to these members to get their levy accounts up to date. Office Hours
Account Ability and the Estate Management are continuously driving collections to ensure adequate cash flow to fulfill 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 March 2021 to Date Budget
Month
Upgrading of Gatehouses: Accounts Email:
Main Gate Completed 4 600 000 4 391 395 - 117 445 4 508 840 91 160 accounts@aams.co.za
North Gate Completed 2 200 000 2 101 497 - 2 101 497 98 503
Office Relocation Completed 1 350 000 740 026 - 236 918 976 944 373 056 IFV Accounts:
Professional Fees In Progress 700 000 771 309 - 4 000 775 309 -75 309
8 850 000 8 004 227 - 358 363 8 362 590 487 410 Winny Boshoff
Contingency/Variation 400 000 - - 400 000
Total 9 250 000 8 004 227 - 358 363 8 362 590 887 410

8 • Issue 5 2022 • The Villager