BUSH TELEGRAPH
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vehicle was necessary for the officers to be<br />
able to cost-effectively patrol the estate and<br />
respond to residents more efficiently.<br />
9. Zimbali Engineering & Infrastructure<br />
Manual (ZEIM)<br />
Approximately 40% of this very comprehensive<br />
project has been completed, with the initial<br />
phase being to obtain and retrieve critical<br />
data, information and records from various<br />
sources, such as the local authorities, Zimbali<br />
engineers and architects, as well an in-depth<br />
search through ZEMA’s own historical,<br />
archived records. This phase has been a bit<br />
more challenging and time-consuming than<br />
originally anticipated.<br />
The 60% balance of the project will be the<br />
compilation and formulation of the ZEIM and<br />
Asset Register which will include: Individual<br />
road reports (larger assets); Buildings and<br />
Bridges; Storm-water Infrastructure; Water/<br />
Sewerage; Electricity and Streetlights;<br />
Fencing; Fire; Pools; Wooden Decks/<br />
Walkways; Communications.<br />
We hope to have the manual finalised by<br />
the end of May 2015 and will report back to<br />
members at the AGM on 12 June 2015.<br />
ZEMA FINANCE<br />
LIESL VAN DEN BERG<br />
ZEMA Financial Manager<br />
Financial Report for the period<br />
ending 31 February 2015<br />
The 2015 financials reflect a sound financial<br />
position for the Association.<br />
The balance sheet depicts current assets<br />
exceeding current liabilities in excess of<br />
R51.5 million, and it is noted that this excess<br />
is largely due to funds held on call and in fixed<br />
deposits.<br />
1. CASH FLOW<br />
The cash flow statement shows positive cash<br />
flows of R6.7 million at February 2015.<br />
2. INVESTMENTS<br />
ZEMA has maintained and grown investments<br />
from R60.5 million in 2014 to<br />
R65.9 million at end of February 2015 due<br />
to additional cash from levies received in<br />
advance and surplus funds.<br />
3. R7.2 MILLION EXPENDITURE HAS BEEN<br />
INCURRED AS AT FEBRUARY 2015, MAJOR<br />
EXPENDITURE INCURRED AS FOLLOWS:<br />
Security – 28%, Salaries & Wages – 14%,<br />
Ground Management – 8%, Depreciation<br />
– 11%, Marketing – 3%, Insurance – 5%,<br />
Electricity & Water – 4% and Repairs &<br />
Maintenance – 12% = 85% of expenses.<br />
Note: Marketing expenses are not paid out of<br />
Members’ funds. These costs are limited to<br />
Branding and Administration income earned<br />
by ZEMA from property resale.<br />
4. R8.3 MILLION INCOME HAS BEEN<br />
GENERATED AS AT FEBRUARY 2015,<br />
ANALYSIS AS FOLLOWS:<br />
Majority of funds are generated by levies<br />
being 72%, Road Maintenance Levy – 3%,<br />
Branding and Administration Income – 8%,<br />
Interest - 8%, rental admin fee – 3% and other<br />
income – 6%<br />
5. DEBTORS ANALYSIS<br />
Total homeowners levies receivable at the end<br />
of February 2015 is R1,037,982. This amount<br />
excludes levies owing by the developer of<br />
R4,469,218.<br />
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