20th July, 2020
Sub: Annual Maintenance Charges for 2020-21
Dear Members: Greetings from the Board of Directors.The entire world is passing through very trying times and Happy Nook is no exception. We regret that in view of the extraordinary situation that has arisen due to Covid 19 pandemic and the government regulations prevailing with respect to that we are unable to hold the AGM for the year 2020-2021 which was due in this July. An interim adhoc amount for three months ( April – June 2020 ) had been collected from the Members to take care of the monthly expenses to be undertaken during the above mentioned period. The balance amount towards the Maintenance charges for the rest of the co-operative year would have been collected after undertaking the AGM in the month of July 2020, which is normally the case. However in view of the fact mentioned in Para above the Board of Directors in their last meeting dated 19.07.2020 has drawn out a Budget for the year 2020-2021 which we are enclosing here. DRCS has been informed accordingly.It has been decided to collect the Annual Maintenance Charges for the rest of the year on the basis of detail deliberations by the Board for the Budget, year 2020-2021. This Budget will be placed as and when the AGM is held and get passed post facto. The Board has been forced to decide on such an action as without the collection of the funds it is becoming impossible to run the Society. It would be very pertinent to mention that in view of the unforeseen situation arising out of Covid 19 pandemic and Amphan the Society had to / is having to undertake huge expenses which had not been planned. These expenses had to be incurred / are being incurred keeping the welfare of all the Members and residents at large which we are sure you would all appreciate and agree.
May we request you to please pay the Maintenance Charges as per the schedule mentioned. Given the extraordinary situation prevailing all over the world we expect and pray for your understanding and kind co-operation. Thanks & best regards.
(Kushal Roy) Secretary
Enclosed: Budget for 2020-21.
HAPPY NOOK CO-OPERATIVE HOUSING SOCIETY LTD. BUDGET FOR THE YEAR 2020-2021 (Figures in Rs / Thousand)
Particulars Actual Expenditure for 2019-2020 Budget for 2020-2021
Electricity Charges 273.00 300.00
Security Charges 573.00 600.00
Salary & Wages 571.00 1014.00
Gardening Expenses 135.00 40.00
Campus Cleaning Expenses 248.00 35.00
Garbage Removal Expenses 78.00 36.00
Printing & Stationery, Xerox 23.00 25.00
Civil Repair & Maintenance 196.00 250.00
Plumbing & Fitting 268.00 300.00
Electrical Maintenance 51.00 60.00
Pump & Tubewell 2.60 04.00
Postage & Courier 0.20 0.40
Meeting Exp. including A.G.M. 21.00 20.00
Tank Cleaning Expenses 35.00 40.00
Conveyance Expenses 5.30 5.00
Telephone Expenses 11.10 12.00
Legal Expenses
Audit Fee 5.25 6.00
Miscellaneous Expenses 25.00 25.00
Library 3.60 4.00
Welfare Fund 13.60 15.00
Road Repair
Professional Fee for Income Tax 29.50 30.00
Rate & Taxes 5.50 6.00
Insurance 1.30 2.00
Fire Extinguisher 18.80 20.00
Water Charges 392.00 400.00
CCTV Maintenance 18.00 20.00
Medical Insurance for staff 23.50 25.00
Capital Expenditure
Expenses for Covid-19/ Amphan
250.00
Total = 3027.25 3544.40
Please note the wide variation of amount in sl no. 3, 4, 5 & 6 compared to last year’s Budget. In previous years Sl. No. 4, 5 and 6 used to include the Salary and Wages of Jhantu, Raghu, Govindo and Singh. This year their Salary & Wages have been shown in the Sl No. 3, Salary & Wages head.
For this reason Sl. No. 4,5 and 6 are very low while Sl No. 3 appears to be very high.
The above been done for more clarity.
HAPPAY NOOK CO-OPERATIVE HOUSING SOCIETY LTD. ANNUAL MAINTENANCE CHARGES FOR THE YEAR 2020-21 (Figures in Rs / Thousand)
Accounts Head Budgeted income for 2020-2021
Particulars
Interest on Fixed Deposit & Savings 550.00 01. 02. Car Parking Charges 250.00 02. 03. Service Charges 100.00 03. 04. Others Income 50.00 04.
Total Estimated Income for 2020-2021 950.00
A) Budget for the year 2020-21 =Rs. 35,06,000.00 B) Income for the year 2020-21 =Rs. 9,50,000.00 Deficit (-) Rs. 25,94,400.00
Therefore Maintenance Charges payable by Members =Rs. 25,94,400.00 / 175 = Rs. 14,825.00 say Rs. 14,800.00 Per Member.
LAST HALF YEARLY MEETING RESOLUTION:
“Resolved that the part of Annual Maintenance Charges from 1st April, 2020 to 30th June, 2020 of Rs. 3,000.00 with effect from 01.04.2020 be paid by Members one time within 30th June, 2020 and late fee @ 2% per month would be payable for delayed payment.” “ Resolved also that the remaining final amount of Maintenance Charges have to be paid by the Members which will finally be decided on the AGM to be held around August, 2020.”
In view of the above resolution for the whole year 2020 April to 2021 March is as follows:
“Resolved that Annual Maintenance Charges for the year 2020-2021 is Rs. 14,800.00. Rs. 3,000.00 has been collected from Members as part payment already. Rest Rs.11,800.00 requires to be paid by members on or before 31 August, 2020 and late fee @ 2% per month would be payable for delayed payment.”
Those members who have not paid the amount of Rs. 3,000.00 till now they should pay it along with the balance amount.