Re: Analysis of balance sheet for 2011-12 & expenditure budget for 2012-13

[Kanthi XS]

Dear all,

I shall certainly concur with Mr. Nathan's / Mr. Sankarabaaham views on this subject. We just can't overlook the following facts :

a. With audited balance sheet now, there is 'no Cash Loss' but 'Book Loss' of Rs 8,10,416 mainly contributed due to depreciation of Rs 7,61,412 and water charges of Rs 73,500.

b. I live in a similar society where we pay for Water Charges based on Consumption @ Rs. 0.10 per litre. As per byelaw, I expect that all water users shall pay for their usage either on consumption or Flat charge based on minimum occupation period. 

c. For your information, my family of 3 Adults use 14000 to 15000 litres of water per Month and pay Rs 1400 - Rs 1500 as monthly water Charges. I find this the exact Monthly Charges raise sought now.  

Hence I see lot of Merit in Mr. Nathan's views and Mr. Sangarabaagam's views. It is totally wrong to write off simply as SGM Resolution Passed. I suggest my points as listed below :

1. As per bye law, each Occupant pay for Water Charges on Lump Sum basis.  

2. Please look at different options suggested in SGM for reducing cost.

3. Treat this extra charges as Special Capital Fund and it shall be used only for emergency Capital Expenditure pending future AGM / SGM clearance.  

4. Formulate Special Sub-Committee under MC for focus on Specific Tasks as listed by Mr. Sangarabaaham. 

Trust this will be acceptable.

Regards,

Kanthi.

P5B3D.

Sent from my iPad

On Sep 24, 2012, at 6:09 PM, Sankarabaaham Ganapathy <girijas...@gmail.com> wrote:

dear Mr.sarma,

what MR. NATHAN GIVEN THE ANALYSIS BASED ON THE FIGURES FURNISHED BY YOU AND

NOT HIS IMAGINATION. HENCE WE WANT A COMMITTEE TO BE FORMED AND BASED ON THE ANALYSIS

WE WILL FIX THE MAINTENANCE CHARGES.

AWAITING FOR THE FORMATION OF COMMITTEE.

GANAPATHY SANKARABAHAM

On Mon, Sep 24, 2012 at 5:38 PM, Chinna Veerappan <kvrv...@yahoo.co.in> wrote:

--- On Mon, 24/9/12, Chinna Veerappan <kvrv...@yahoo.co.in> wrote: From: Chinna Veerappan <kvrv...@yahoo.co.in> Subject: Re: Fwd: Analysis of balance sheet for 2011-12 & expenditure budget for 2012-13 To: "Narasimhan Narayanan" <bellatuscany.a...@gmail.com> Date: Monday, 24 September, 2012, 5:19 PM Dear All, What Mr. Nathan & Mr.Sankarabagam said is correct I totally agree with their views is only for the benefit of our association and not for the intersest of any individual person We do not want MC to reduce costs but all of us collectively want MC to control costs within the stipulated existing income limits.It is evident from  as per Balance sheet & expenditure budget We shall all pay Existing Maintenance charges only for the forth coming dues in October2012 until MC gets signatures of all owners in writing as proof for if any upward revision to be considered since this issue is based on monetary grounds by nature and also this is not a single time payment  but permanent recurring liability for all If upward revision is to be considered, MC should go and get signatures of each and every individual concerned for their approval in writing because this issue is based on monetary grounds which leads to legal  issues later over MC and not a mere small casual issue by nature I advice MC not to concentrate on collecting money only, be careful, otherwise MC will be sued as per bylaws Thanks & regards K VR ChinnaVeerappan --- On Mon, 24/9/12, Narasimhan Narayanan <bellatuscany.a...@gmail.com> wrote: From: Narasimhan Narayanan <bellatuscany.a...@gmail.com> Subject: Fwd: Analysis of balance sheet for 2011-12 & expenditure budget for 2012-13 To: Date: Monday, 24 September, 2012, 4:02 PM Dear All,   It is very sad to see Mr. Nathan taking over an "Extra Constitutional" position and communicating to members some analysis about the maintenance charges.   It is purely his personal opinion and is not the opinion of any management committee member. The maintenance charges agreed upon during the SGM stands at Rs.3.00 per sft.   Management Committee wants to reassure that we are making all efforts to minimize costs as much as possible.   Regards S. Vasudeva Sarma President-BTFOA   ---------- Forwarded message ---------- From: Nathan <n.nat...@yahoo.com> Date: Mon, Sep 24, 2012 at 1:00 PM     Dear Members , Kindly go thru the balance sheet & the budget circulated by MC You will be convinced that there was no compelling need to enhance the maintenance charges beyond 2.50per sqft  Cash-flow was not a problem at all as brought out in balance sheet Water purchase to the tune of Rs75000 was  made during 2011-12 from maintenance charges which is not permitted as per byelaw. Provision of Rs15000 per month has been made for water purchase during this year even though Mr Sarma promised no water will be purchased from 1/10/12 With the approval for OD to the tune of Rs5 lakhs cash management even at pre enhanced rate is comfortable There is scope for reduction of expenses under lift maintenance , Generator power common charges & repair charges  Under the above circumstances enhanced component of maintenance charges must be conserved as reserve fund until next review Nathan Sent from my iPad On Sep 17, 2012, at 6:04 PM, N Narasimhan <simhav...@hotmail.com> wrote: Dear Members, Please bear with me for writing this and spare few minutes. In the last few days, there are numerous mails from members, expressing concern about the increase in Maintenance charges. Writing a recipe is one thing and attempting to cook and serve the food is another thing. Its easier said than done. While the components of Maintenance charges are interpreted and analyzed from theoretical perspective, the practical front of coordinating the activities and incur expenditure to keep the Fontana premises with reasonable amenities, ambiance and cleanliness is conveniently ignored. The MC members do prudently exercise their options in making the expenses. You will appreciate that like any other household, the arena of day to day issues are far from paper projections. If I can share the reality of maintaining the Fontana Complex, it is a fact that the MC of Rs.3/- per sft in itself would be extremely difficult to meet the expenses in the long run, say next year. People are very free in commenting on the utilization of amenities provided for, without realizing that the very nature of infrastructure made available to the apartment owners are of such nature, if not put them to use , the Complex would render a look of uncared/unmaintained oriental structures or monuments. Their communications echo some of their most personal views and are highly opinionated; passing insinuating observations on the Management Committee. Its only falling short of 'calling names'. Now for the logic behind the Quarterly subscriptions: Collection of Maintenance charges on Quarterly basis is questioned.  #Do you know 25% of members(20 apartments) pay within due date (7th of first month of the quarter); #50% (40 flats) between first and second months of the quarter) and #15% (12 apartments) in the third month) and 10% (8 apartments) in subsequent quarters and there are a few defaulters. The mismatch of cash flow in respective months are managed due to some advance payments(we thank their sagacity) of 6 monthly subscription ; but for them we will fall into deficit.  With this sort of trend in inflow of revenue, entertaining someone's claim that only monthly payment is acceptable is to put the strain of funds mobilization on the shoulders of office bearers for none of their faults.  Is this a way to put the (honorary) office bearers to confusion and worry.  In very huge complexes with 200 -300 apartments, the breakeven is possible.(its not so even in such cases - is a different story!) With 80 apartments of ours, the monthly subscription will be difficult to follow.  Most of the owners are staying outside/abroad and collecting on monthly basis before 7th of the months would be virtually impossible. Following is my earnest request in my individual capacity(as a general member and owner of A4C): 1. The present Management Committee is doing its best. Time and energy put in by some of them are too precious - foregoing their personal lifestyle. 2. Well-meaning members, should no longer stand aside; please extend your moral support and let others know your support. 3. Remitting the Revised Maintenance Charges at the earliest will demonstrate your support and will help the Management Committee to steer clear ahead. With warm regards, N Narasimhan A4C NB: I am traveling abroad at present on holiday; still thought I must share my ideas with all of you. Thanks once again for sparing your valuable time. -- ================ I Support Green Living ================ -- for The Bella Tuscany Fontana Owners' Association N Narasimhan Secretary