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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 />

6

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