On behalf of the EC it gives me pleasure to present the 5th annual report and the audited accounts of RRVRPOA for the financial year ended 31st March 2008.
Accounts: Members are already in possession of the income and expenditure account and the balance sheet. It will be noticed that thanks to our prudent management we continue to have a substantial surplus which is transferred to reserves and which will be used in due course for the maintenance and improvement of the infrastructure as and when the need arises.
Maintenance: In the current year we have started on a program of renewing the fencing around the border of our estate. The cost incurred so far has been RS 35000. This program together with an extension of street lighting will need to be continued in the years to come.
Membership: Our membership continues to grow and we currently have 158 members who between them own 182 plots. We also take this opportunity to welcome the 12 plot holders who had joined APOORRV. In terms of the agreement signed with RCH and APOORRV they become members of our association
Arrears: The following members are in arrears for the years 2004/05 and 2005/06 and 2006/07 - Salma Jaffer - Prakash Rao - Dilip HajA - Jaykumar
We strongly deplore the continued refusal of these members to honour their obligations. We call on them once again to pay the arrears due.
Development of members plots : The association currently maintains 11 plots on behalf of members.
New cottages: Nomita Chandy and Vikram and Vikram Rau have completed their cottages. These are two fine additions to our layout. Malavika Kapur will soon start work on her cottage.
Legal Matters: The crucial event since the past AGM in May 07 has been the signing of an agreement with the ex promoters RCH which brings to an end the conflict that has hampered the development of RRV. At the GBM held on the 13th April 2008, the GB ratified the agreement proposed by the EC and this agreement has since been signed and notarised on the 18th April 2008. The EC is actively pursuing the implementation of the various clauses of the agreement
The outlook for the future: As you all know there is a lot of work to be done at RRV to rectify years of neglect. The club house and the other structures need repair and painting. The water supply system needs to be overhauled and new sources of water found , the need to maintain and develop RRV is essential since we are sure that over time more and more people will construct cottages and a good infrastructure can only add value to our investment.
However the lack of financial resources is a major problem. As it is we have great difficulty in getting plot holders to pay even the nominal AMC of RS 5000 on time.
The second and equally serious problem is the lack of volunteers to serve in the EC. The supervision of such a huge project as RRV requires a lot of time. It is difficult to find people who are willing to give the time required . The current EC members have remained almost unchanged since inception. We hope that some members will come forward to share the burden of this common andeavour.
I would like to end by thanking all members who served on the EC this year.