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Serene Acres Owner’s Association. Annual General Body Meeting Sep 2011. Topics. Key Agenda Summary Current Office Bearers Overview – Financial Status and Operations Election of the Office Bearers Voting – Key Pending items Challenges for the Association office Outstanding Issues

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serene acres owner s association

Serene Acres Owner’s Association

Annual General Body Meeting

Sep 2011

  • Key Agenda
  • Summary
  • Current Office Bearers
  • Overview – Financial Status and Operations
  • Election of the Office Bearers
  • Voting – Key Pending items
  • Challenges for the Association office
  • Outstanding Issues
  • Discussion Items
key agenda of the agm
Key Agenda of the AGM
  • General briefing about the activities and financial position.
  • Decision on corpus fund.
  • Voting on a few critical items
  • Election of office bearers.
other agenda of the agm
Other Agenda of the AGM
  • Tenant Classification, guidelines and Pros/Cons– Family, Hostels and Bachelors.
  • Complete Outsourcing to external Professional Facility Management Company.
  • Id Card for the residents
  • BSNL /Airtel Intercom- Must be made mandatory
  • We’re 3 years old. Handover from builder in Apr 2008.
  • Elected office bearers over the 3 AGMs so far
  • In deficit with respect to monthly collection amount
  • Managed recurring & major expenses so far through initial corpus provided by the builder
  • Finalized bye-laws
  • Financials audited by External Auditors
  • Maintenance fee collection drive established as a practice
  • Challenged by lack of participation by the owners
expenses deficit apr 10 aug 11
Expenses & Deficit – Apr’10 – Aug’11

Current Deficit funded by Corpus is Rs. 3, 30, 000 & erosion on opening Balance (as of Apr’10) of Rs. 3, 80, 000

Average Monthly Expenses: Rs. 4, 48, 000

maintenance fee corpus collection status
Maintenance Fee & CorpusCollection Status
  • Thanks to all regular payers
  • Thanks to all Corpus payers with which we were able to manage 2011 Deficit
challenges for association office
Challenges for Association office
  • Manage outstanding & ongoing Deficit
  • Collection of maintenance fee
  • Meeting Income Vs expenses
  • Plan and save for major repairs & changes
  • Water & Sewage Management
  • Challenges due to serviced sub-let apartments (or) hostels
  • Participation of owners in the association%
outstanding issues items
Outstanding Issues/Items
  • Water Consumption metering
  • Sewage dumping
  • Panchayat Water
  • Road Repairs
  • Change Entrance
  • Complete plumbing/electrical line diagrams from builder
  • Side roads to the apartment
  • Decision to Register the society
  • Other Amenities like Gym, Play Area etc.
discussion items
Discussion Items
  • Proposed Rates - Approval
  • Future Rate Increase – Anticipated
  • Penalties for defaulters
  • Collection from consistent defaulters
  • Total outsourcing of maintenance
why corpus fund
Why Corpus Fund?

Repair of the ramp at the entrance:

  • Damages to the ramp at the entrance need to be fixed. Estimate for doing this work based on quotations received is around Rs. 2.0 lakhs.

Sewerage Disposal:

  • At present sewerage water collection trucks come inside the building (near the central garden) to suck the waste water out. Residents have to endure noise, smell and the sewerage spill for a few hours each day. In addition, the load of the trucks is causing permanent damage to the pavement tiles. Repeated repair and restoration of this is becoming a costly exercise. The association is looking at different options to ensure that the trucks can do their job without entering the premises. Examples: laying a pipe underground from the existing sump to the side gate so that truck can suck the water standing at the gate. Though a solution has not been finalized, the association is of the opinion that any solution might cost a lakh or two.

Rewiring of Electrical Connections to each block:

  • We have been experiencing repeated power failures and tripping of fuses in most of the blocks. With near full occupancy and A/c’s is all the homes, the electricity load pattern of each block have changed significantly when compared to how it was designed by the builder. As a result, now, the way power is being distributed all the flats from the transformers have to be revisited. We would have to makes changes to the wiring from the transformers at all the flats so the distribution is even. We first have to engage an Electric engineering consultant and then take necessary remedial actions as suggested by him. At this stage we don’t have an estimate as how much this would cost us. 

Maintenance to STP and RO Plants:

  • As per suggestion of the STP maintenance service provider, we will have to icur expenditure to the tune of 1.6 lakhs towards the following:  
  • STP: Tube settler media in the settling tank has to be replaced to get clear water. The cost of tube settler media and support structure will cost Rs.1,00,000/-
  • STP Flushing - A Standby kirloskar pump KDS 550++ for Rs.20,000/- is suggested to procure.
  • Domestic water (club house): A standby pressure tank for Rs.40,000/- is suggested to procure.

Gym Repairing : The gym has to be repaired at least for basic usage. We have good quotation from various vendors but could not move forward owing to budget constraints.

Children Play Area: Need to repair and cement the badminton (back near A2 block) area to make a good Children’s play area and a sitting place for elderly members of serene acres family

Building Painting : Exterior painting of the blocks will be due soon in next one year or so and we need to be ready for the same.