Welcome to 7th AGM of Vasant Nagari Sector VWelcome to 7th AGM of Vasant Nagari Sector V Co‐op. Hsg. Society. Ltd.

Salient FeatureSalient Feature

Income and Expenditure accountIncome and Expenditure account• For Income

– Service charges were reduced as compared to last year – reason last year we  collected a total of Rs 486/= per month as service and water charges till July 2006 as Service charge. Where as this year its is seperated p g y g y pas Service Charge Rs 140/= per month per member and water charges.

– Municipal Connection Charges added in Bill of March 07 for Following member is found incorrect –Sundaram D304, (Rs 2000/=) Shubham D‐202,(Rs 500/=), Shubham D‐401 (Rs 2000/=) & Shubham D‐402 (Rs 2,000/=). Hence Rs 6,500/‐ waived. 

– Water connection(Tank) charges from members(Rs 3,60,000) – I am not able to explain because there is no minutes about the Special AGM is on record and I have asked Outgoing treasurer and Ex Secretary to help us in sorting out the matter.

– Interest on Dues is waved by previous committee for unknown reason – so no Interest on Dues 

• For Expenditure– Accounting charges were increased  from Rs 7/= to Rs 8/= per member.

– Bank Charges decreased  thanks to less bouncing and return of the cheque from members.

– Conveyance, Telephone, Printing & Stationary, Repairs & Maintenance and Water charges  are all y p g y p gdecreased.

– Electrical Repair and Maintenance and Electrical charges  have increased

Salient Feature ‐ continuedSalient Feature  continued

Income and Expenditure accountIncome and Expenditure account• For Expenditure

– If you combine Diwali and Pooja Expenses you will notice even this has reduced

– Insurance Charges – All the 4 buildings were under insured for Rs 616 Lakh at Construction rate of Rs 400/=Insurance Charges  All the 4 buildings were under insured for Rs 616 Lakh at Construction rate of Rs 400/  per sq. ft. Where as the Current Market Rate  is Rs 800/= per sq. ft. This has been rectified by us. 

– Meeting Expenses have increased.

– Salary and Wages have increased due to addition of 1 more security person at main gate and increase in the charges of Security Agency from Rs 3,000.00 to Rs 3,400.00 per person.g y g y , , p p

Salient Feature ‐ continuedSalient Feature  continued

Balance SheetBalance Sheet

– One UPS system is purchased for office

– FD with bank increased to Rs 5 67 335 81FD with bank increased to Rs .  5,67,335.81

– Members Dues increased to Rs 9,34,535.00

– Entrance Fee have increases due to addition of new member

– Sinking Fund addition of Rs 41,568.00

Building Repair Fund addition of Rs 249 616 00– Building Repair Fund addition of Rs 249,616.00

– Transfer Premium Received  Rs 121,000 for  12 members . Deposited in bank till March 08 Rs 101,000. Excess Transfer fees (Rs 5,800.00) returned to Shivam E‐301.

– Uday construction Rs 26,508/= 

Role of Interest on DuesRole of Interest on Dues

Financial Year Interest on Dues  Profit/Loss

Year Ending 31.03.03 Rs 39,799.00 Rs 40,828.00

Year Ending 31.03.04 Rs 92,083.00 (Rs 1,15,804.00)

Year Ending 31 03 05 Rs 1 11 260 00 (Rs 1 16 707 00)Year Ending 31.03.05 Rs 1,11,260.00 (Rs 1,16,707.00)

Year Ending 31.03.06 Rs 1,29,492.00 Rs 40,137.00

Year Ending 31.03.07 Rs 43,384.00 (Rs 2,74,662.00)

Year Ending 31.03.08 Rs 0.00 (Rs 33,784.00)

Role of Interest on DuesRole of Interest on Dues

Financial Year Interest on Dues  Profit/Loss

Year Ending 31.03.03 Rs 0.00 Rs 1,029.00

Year Ending 31.03.04 Rs 0.00 (Rs 2,07,887.00)

Year Ending 31 03 05 Rs 0 00 (Rs 2 27 967 00)Year Ending 31.03.05 Rs 0.00 (Rs 2,27,967.00)

Year Ending 31.03.06 Rs 0.00 (Rs 89,355.00)

Year Ending 31.03.07 Rs 0.00 (Rs 3,18,046.00)

Year Ending 31.03.08 Rs 0.00 (Rs 33,784.00)

Transfer of FlatsTransfer of Flats

Nomination Forms ReceivedNomination Forms Received

Financial AnalysisFinancial AnalysisApril 07 – March 08

* Future Fund – Sinking Fund & Repair Fund

Financial AnalysisFinancial Analysis

New maintenance chargesNew maintenance charges proposalp p

1st Quarter of April 08 – March 091 Quarter of April 08  March 09

April 08 May 08 June 08April 08 May 08 June 08

Billed Amount* 1,11,603.00 1,11,603.00 1,11,103.00

Expenses(General) 62,680.00 71,550.00 87,801.00

Water Charges 26,880.00 26,880.00 26,880.00

Welfare Fund 3,360.00 3,360.00 3,360.00Welfare Fund 3,360.00 3,360.00 3,360.00

Future Fund(Sinking & Repair)

24,269.00 24,269.00 24,269.00

I 3 680 00 3 680 00 3 680 00Insurance 3,680.00 3,680.00 3,680.00

Total 1,20,869.00 1,29,739.00 1,45,990.00

Shortfall 9,266.00 18,136.00 34,887.00Shortfall 9,266.00 18,136.00 34,887.00

* Interest not included

1st Quarter of April 08 – March 091 Quarter of April 08  March 09April 08 May 08 June 08 July 08

Billed Amount* 1,11,603.00 1,11,603.00 1,11,103.00 1,10,913.00

Expenses(General) 62,680.00 71,550.00 87,801.00 71,809.00

Water Charges 26,880.00 26,880.00 26,880.00 53,480.00

Welfare Fund 3,360.00 3,360.00 3,360.00 3,360.00

d( kFuture Fund(Sinking & Repair)

24,269.00 24,269.00 24,269.00 24,269.00

Insurance 3,680.00 3,680.00 3,680.00 3,680.00

Total 1,20,869.00 1,29,739.00 1,45,990.00 1,56,598.00

Shortfall 9,266.00 18,136.00 34,887.00 45,685.00Shortfall 9,266.00 18,136.00 34,887.00 45,685.00

* Interest not included

An Overview after Proposed Maintenance September 08 Financial Year 

April ‘08 – March ’09

Billed Amount* 1,86,331.00 18,60,452.00

Expenses(General) 71,550.00 7,60,000.00

Water Charges Paid 26,880.00 4,30,080.00

Sinking and Repair Fund 77,094.00 6,60,995.00

Welfare Fund 3 360 00 40 320 00Welfare Fund  3,360.00 40,320.00

Insurance Charges 5,417.00 65,004.00

Total 1,84,301.00 19,56,399.00

Profit /(Shortfall) 2,030.00 (95,947.00)

Reason for shortfall and Increase inReason for shortfall and Increase in Service charge

• Staff salary has been revised from April, an increase of Rs 1,850.00 per month

W h dd d i d i i h• We have added one more security guard in night, resulting an increase of Rs 3,400.00 per month.

• E en earlier there as defi it of aro nd Rs 1 8 lakh• Even earlier there was deficit  of around Rs 1.8 lakh in General Charges but due to above two reasons it will further increase to around Rs 2 5 Lakhwill further increase to around Rs 2.5 Lakh

Breakup of Water Charge

• We pay Rs 120.00 per month per flat to Municipal.

• We have estimate that we might buy around 155 k f i h b h d 38tanker of water, since we have bought around 38 

tanker in 1st quarter.

• The ost of abo e omes Rs 40/ per flat per month• The cost of above comes Rs 40/= per flat per month.

• That’s why we have kept water charges to Rs 160.00 per flat per monthper flat per month.

• Yes if there will be enough water it will be benefit to societysociety.

Breakup of Future Fund(Sinking and Repair Fund)

• Now we are collecting Sinking and Repair FundNow we are collecting Sinking and Repair Fund considering the construction cost @ Rs 189.00 per sq. ft.

• The current market rate of construction is Rs 800.00 per sq. ft. But we are proposing to collect Sinking and Repair Fund considering the construction cost @  Rs 600.00 per sq. ft.

f ll h h h b• If we collect charges at this rate, we might not be required to contribute anything extra for Painting, Leak proofing of wall and Raising the boundary wall’sLeak proofing of wall and Raising the boundary wall s height in phased manner in 2‐3 years.

I i I ChIncrease in Insurance Charges

• The buildings are currently insured for Rs 616 lakh

• This is just half the current market rate of construction cost. 

• Now we want to increase the insurance cover to Rs 1,232 Lakh.

• For that we have to pay a premium of Rs 65,000.00 per annum.

• So the per sq. ft. premium comes around 3.51 paisa per monthper month.

Proposed Maintenance Charges p gFlat Area (Sq. ft.)

Water Charges

Service Charges

Insurance Welfare Fund

Sinking Fund

Repair Fund

Total

550 160.00 265.00 20.00 15.00 69.00 206.00 735.00

580 160.00 265.00 21.00 15.00 72.00 218.00 751.00

600 160.00 265.00 21.00 15.00 75.00 225.00 761.00

790 160.00 265.00 28.00 15.00 99.00 296.00 863.00

795 160.00 265.00 28.00 15.00 99.00 299.00 866.00

730 160.00 265.00 26.00 15.00 91.00 274.00 831.00

735 160.00 265.00 26.00 15.00 92.00 276.00 834.00

820 160.00 265.00 29.00 15.00 102.00 308.00 879.00

825 160.00 265.00 29.00 15.00 103.00 310.00 882.00

920 160.00 265.00 33.00 15.00 115.00 345.00 933.00

945 160.00 265.00 33.00 15.00 118.00 355.00 946.00

1100 160 00 265 00 39 00 15 00 138 00 413 00 1 030 001100 160.00 265.00 39.00 15.00 138.00 413.00 1,030.00

1200 160.00 265.00 42.00 15.00 150.00 450.00 1,082.00

Proposal to Regularise old Transfer

Transfers Received Till March 07 for Sundaram Buildingg

Transfers Received Till March 07 for Shubham Building

Transfers Received Till March 07 for Shivam Building

Transfers Received Till March 07 for Satyam BuildingTransfers Received Till March 07 for Satyam Building

Transfers with Membership Number

Transfers with Membership Number…….

Problem of Duplicate Membership and IncorrectMembership and Incorrect 

Transfer

Duplicate MembershipDuplicate MembershipBuilding Flat No. Member's Name Membership 

No.Exhisting Member on Same Membership No.

Requirement

Shubham A‐104 Mr Eknath Pokle 66 Mr Bharat Singh Bist of Sundram A‐002

Need to be cancled

A‐104 Mr Eknath Pokle 8Shubham B‐304 Mrs Nirmala 65 Mr Rajpal Singh of Need to be cancledShubham B 304 Mrs Nirmala

Devi(Duplicate share certificate)

65 Mr Rajpal Singh of Sundaram A‐001

Need to be cancledand New certificate should be issued Shubham B‐304

Shubham D‐401 Dr Anandraj M.P. 67 Mr Satish Koshti of S d A 003

Cancle and issue New C tifi t tSundram A‐003 Certificate to Shubham D‐401

Shubham D‐402 Mr Amit Saboo 68 Mr Seema Subhas Joshi of Sundaram A‐004

Cancle and issue New Certificate to Shubham D‐402

Mr Rajeev Mishra N/A As aboveShubham C‐402 Mr Babulal A. Sharma 69 Mr Rajesh Vilash

Pednekar of SundaramA‐104

Cancle and issue New Certificate to Shubham C‐402

S d A 401 M M h Shi d 129 M O ld D' il f C l d i NSundaram A‐401 Mr Manohar Shinde 129 Mr Oswald D'silva of Shivam A‐001

Cancle and issue New Certificate to Sundaram A‐401

Incorrect TransferIncorrect TransferBuilding Flat No. Member's Name Problem Requirement

Shivam A‐302 Mr Manish J. ShethMr Manish J Sheth has bought the Flat from Mr Josef J Lopez & Mrs Leena J Where as Share

Need to be canceled and issued Duplicate Share certificateMrs Leena J. Where as Share 

register Show that Flat is directly transferred to Mr Manish J. Sheth without transferring it to Mr Josef J

Share certificate

transferring it to Mr Josef J Lopez

Shivam C‐101 Mr I. D. Singh Mr I. D. Singh has bought the Flat from Mrs Ulka S. Kulkarni. Where as Share register Show

Need to be canceled and issued Duplicate Share certificateWhere as Share register Show 

that Flat is directly transferred to Mr I. D. Singh without transferring it to Mrs Ulka S. Kulkarni

Share certificate

Kulkarni

Regularisation of Nomination Farms Received till March’07h bh & dShubham & Sundaram

Regularisation of Nomination Farm Received till March’07hi &Shivam & Satyam

ParkingParking

Layout Plan of SocietyLayout Plan of Society

Parking StickerParking Sticker

For 4 wheeler For 2 wheeler

Parking RulesParking Rules

• No Member can alot the parking space alongwith the sale ofNo Member can alot the parking space alongwith the sale of flat.

• Each and Every Vehicles of Society will be allotted Society Parking sticker.

• If any Vehicle without society sticker is coming inside the society They have to record the entry of Vehicle at Visitorsociety. They have to record the entry of Vehicle at Visitor Book kept at Society Gate and Park it at separate space allotted for them.

• Incase if 2 members want same parking space, the parking space will be allotted by lots.

Parking Rules….Parking Rules….

• If any member refuses to follow the guidelines/instruction of y g /Managing Committee. Managing Committee can impose a fine of Rs 2000 – Rs 5000.

A fi P lt di P ki h t b d d b• Any fine or Penalty regarding Parking has to be endorsed by the General Body.

• Members have to display the society sticker on the vehicle. p y y

• If any visitors vehicle is parked more than 5 days in society. Society will charge double Parking Charges to Member whom i i i i i ivisitor is visiting.

Thanks