
Welko Estate HOA Chairman Report7 May 2023Welcome to you all to our 2024 AGM.  It has been a privilege to serve on this committee with Ula Gillion and Dave Neto.  Also, having the input and services of Peet van Rensburg as our accountant has continued to be most helpful. As you will see, the hard work towards ensuring our finances are in good order has begun to pay dividends.  There are still some issues to be resolved in this regard, but we are working towards a resolution of these. Going forward, we as a committee are striving to see that our estate conforms to all necessary/required standards and improved, and various suggestions are being made for your consideration.As far as my report is concerned, I wish to highlight the following by way of reporting to you as the members so that you as a body corporate can make informed decisions. In terms of procedure, we will present reports, highlighting where needed as there are many details, and then we will have a time for Q and A, discussion, and where necessary voting done.  Brief overview of our financial state:-- I am pleased to report as already indicated  above that the HOA is in a healthier financial state evidenced by cash balances of R93 139 at year end which allows for savings for purposes of maintenance and improvements; the debt reduction at CoCT from R210, 200 to R105,580 at FYE; -- council write-offs have been finalised; -- although there is still room for improvement, levy and utility collections have grown to 63% compliance in comparison to the 25% when the new administration took over about 18 months ago; -- the HOA is now solvent and liquid with all important financial indicators now positive; and the good news is that the current budget/levies for year ending 28 Feb 2025 will remain unchanged. All insurances which includes public liability, loss of funds cover, and “other risk” covers are in place. Refuse removal has been moved to the accounts of individual owners.The intercom system has been installed, and while there are still some issues with it needing fine tuning, it is serving its purpose.Our CSOS registration has been finalised as of 6 March 2024Steps have been put in place for the committee to receive the council accounts (water, rates and taxes) and approved by CoCT. We should start receiving these on the 18th of May, 2024. Tax as a SARS recognized entity is still pending and ongoing. With regard to water meters, as most owners are paying their water bills, it is being proposed that water meters will only be put in place where owners are not consistently paying their water bills.At our last AGM, it was approved that the current constitution be updated (as allowed in section 7.2.6) as many sections are either outdated or poorly enforced/enforceable. A proposed new constitution is being put forward for your consideration and input. The date by which all submissions for inclusion must be made in writing will be discussed. There will be a date set in the near future when the new constitution will be voted on and ratified.A qualified practicing architect has been appointed to help to ExCom approve all council submissions. There is a proposal for our consideration for the main gravel road to be upgraded. This will be discussed and voted on. We are grateful to all those who have improved their security fencing which benefits all home owners and residents on Welko. The more we all play our part in this, the more secure we will all be.Thank you for your attention and consideration of these matters.Respectfully submittedDavid Rousseau
