MoM of GBM held on 07-Jul-2019

[SVR Association]

Dear All,

Apologies for the delay in sharing this. While we had a limited attendance, the discussions during the GBM in concern were quite fruitful.

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Updates from Apr to Jun

The committee apprised attendees on activities accomplished so far during the quarter. These covered seeing through the already ongoing painting work to apt closure, recovery of long pending dues, improvement of operational processes, fixing security agency issues, fixing earthing issues in B block etc.

Task and thereby Capital Expenditure Prioritization

The Committee explained that given the age of our building, it's critical to focus on areas of Safety, Compliance and Sustainable Community Development. With this in view the immediate tasks to be executed and their related costs are as follows:

1. STP Repair > Critical owning to stricter KSPCB monitoring that has come into force. Heavy penalties for non-compliance have been levied on apartments heard about near Flora - INR 1.90 Lacs
2. Electrical Repairs and Additions - INR 1.10 Lacs
3. Elevator Repair (immediate ones basis the issues reported) - INR 1.20 Lacs

The above tasks will be taken forward immediately and will be funded from a large part of the sinking fund currently available.

Sustainable Community Development

The Committee explained what we as the Flora community already understand well. This area primarily for us deals with Water right now. It covers additional water saving initiatives that can be adopted, Rain Water Harvesting (RWH) and Ground Water Recharging Setup. The committee will setup a small group to focus on this.

Security

Committee shared the stringent penalty imposed on the Security Vendor for the unacceptable incidents reported by the Flora community earlier. It was also communicated to the attendees that the fees for security agency has been revised by INR 4000 (i.e. INR 1000 per guard) each month, starting Jul 2019.

Account Balance Details

Below details were shared for everyone's attention

• Maintenance Balance: Rs 2.1 lacs
• Water Balance: Rs 1.5 lacs
• Painting Balance: Rs 6.4 lacs
• Sinking Fund: Rs 4.5 lacs
• Total Balance: Rs 14.5 lacs 
• Recurring Deposit of Rs 50K is available excluding the above.

Maintenance Revision

Committee explained the need to revise monthly contribution of Sinking Fund from the current Rs 12,500/- (Twelve Thousand Five Hundred Only) to Rs 20,000/- (Twenty Thousand Only) since post funding the critical tasks the sinking fund would be almost wiped out and hence needs an immediate revival.

To address rising costs in recurring expenditure, revised Salaries to the Security and the impending increases to the staff, committee proposed to revise the monthly maintenance from the existing Re 1.4/- PSFT and Rs 800/- in Fixed mode to Re 1.6/- PSFT and Rs 950/- in Fixed mode. After taking inputs from each and every participant in the GBM, it was decided to go ahead with the revised maintenance proposed by the committee of Re 1.6/- in PSFT and Rs 950/- in Fixed mode.

More communication will be shared when the revision is effected and committee requests all residents to comply on the same.

Statutory Compliance

The committee approved attendees about next steps on association renewal, financial audits etc.

Apartment Aesthetics

It was agreed that a net will be installed to segregate the kids play area from the paved area where kids play cricket. Swimming pool grating repair is pushed back a little for now for want of fund prioritisation.

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Regards

SVR Flora Residents' Welfare Association

[SVR Association]

Dear All,

In continuation of below email, please note that Maintenance revision will be effective from 1st September 2019. Maintenance for September Month, to be generated and paid in Oct Month, will be charged according to new rates.

New Rates are Re 1.6/- in PSFT and Rs 950/- in Fixed mode.  

Regards

SVR Flora Residents' Welfare Association

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[SVR Association]

Apologies for delay. 

Suresh,

There were 11 residents present in GBM. All agreed with revision based on rationale.

Regards

SVR Flora Residents' Welfare Association

On Fri, Aug 23, 2019 at 3:40 PM Suresh Reddy Lingareddy <sureshr...@gmail.com> wrote:

Dear Team, can you publish the total number of participants who agreed for revision.

Regards,

Suresh

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