2011 - 02 GB

Committee Report – February 2011Finance (January 2011)
 Our normal monthly income, if all was paid, would be €10,816.47 community fees and €450.00 water surcharge (total €11,266.47).
 During January 2011 the community received income of €10,000.91 (including extraordinary income of €32) but spent €10,644.97. This resulted in the balance of the community’s account reducing by €644.06 from €5,865.14 to €5,221.08. However included within the expenditure of €10,644.97 was €1,500 paid to Eugene that was owed to him from 2010. A further and final payment of €1,500 is payable to Eugene in February.
 The total amount owed by debtors increased by €1,155.24 (2.97%) this month (January 2011), increasing the total debt outstanding as at the end of January 2011 to €40,074.54.
 As far as we are aware Duplex 9 (Mr. Waugh) is still in the process of being sold and we hope to receive some funds from the sale to either clear or reduce his debt.
 A Reserve Fund account has been opened and a transfer into it from the general fund will be made in February.
General
 The review of the 2010 accounts continues.
- €250 was paid to the lawyer for attending the EGM held on 7th October 2010. Not only was this against the wishes of the owners present, but also based on an email and not an invoice. Further payments of €300 and €200 were subsequently paid to the same lawyer again based upon an email and not an invoice. These payments relate to advice given/work undertaken regarding the unfair dismissal of Eugene. The last payment (€200) was made on the same day as the EGM that removed Sandra as President.
- During 2010 the community paid €723.24 for mobile phone calls. The invoices showed that one specific number showed up frequently (ca. 50% of the costs). We were so far not able to find out who that is as there have been no answers to our calls. Just after the EGM held on 20th December, to change the President, the contract on the mobile phone was changed to prepay and we found out that some points that had accumulated has been exchanged to a NOKIA Mobile in June 2010. Neither this nor the old mobile phone have been handed over to the new President.
- On 1st December 2010 an entry was made in the community’s accounts for a payment of €516.10 that had been made against a quote that had been received in 2009. No supporting documents have been found and the entry doesn’t appear in the community’s bank account in December.
- The previous President kept some of the community’s cash in her apartment as “petty cash”. We have been unable to find any record of cash being received (e.g. from additional community keys or cash withdrawals from the bank) or payments being made in cash. One explanation for the €516.10 mentioned above not appearing in the bank account could be that payment was made in cash. Following the change of President, €156.05 - the balance of what was left in the petty cash – was paid into the bank account. The new President does not keep any petty cash.
- There is no complete record of who has been given keys to the complex – 375 purchased at a cost to the community of €3,75, only 1 left. We have been unable to track all of the income paid for the spare keys (€15 each).
- Jonay, the new gardener, has advised us that the previous President agreed to him charging an extra €50 per month to cover his phone bills. As there is no record of this in his contract, this has been stopped. In addition the previous President had asked Jonay to work on a bank holiday (06.12.2010) even though there was nothing urgent for him to do and Jonay would receive double time. As the hours were worked we agreed to cover the cost. But we agreed also, that he will work 2 days less in Jan. and Feb. each month one day to eliminate the extra costs.
- In January the cleaning company increased the cost of their work by 3%. As this wasn’t covered by their contract this was stopped.
 €38,667.97 was quoted in the Committee Report – January 2011 as the total amount owed by debtors as at 31st December 2010. This included €251.33 relating to owners in credit. The corrected total debt is €38,919.30 and this agrees with the figure quoted in “Accounts 2010” summary.
 On 22nd February 2011 €500 was transferred to the new Reserve Fund that the community now has.
 Some of you will have noticed that we now have one less container for the rubbish in the rubbish room. This is because one was broken and the rubbish collectors took it away but didn’t replace it. We complained to the Town Hall who made a note of our complaint. A replacement container will be provided as soon as one becomes available – as they have recently changed suppliers. Because this may take some time we are looking into the cost of providing one ourselves.
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