On behalf of the Executive Committee it gives me great pleasure to welcome you to this meeting and to present the 14th annual report and audited accounts of RRVRPOA for the financial year ended 31st March 2017.
We would like to inform members of the passing a few months ago of Mr C Vishwesvarya world renowned scientist and RRV plot holder. He was a kind and gentle soul and we have happy memories of his presence at our meetings. We offer our condolences to Saraswathi and the family .
This is our 14th AGM and we can be genuinely proud of our achievement in bringing together people from all over the world. The strength of the association rests in the unity that binds all members. Thanks are due to all those who over the years have contributed to the growth of the association.
The primary role of the association is the maintenance of the common areas of RRV and provision of security for RRV. The association may facilitate individual members’ projects but can in no way subsidise them without the approval of the GB.
The members of the EC are all respected and eminent people of the utmost financial probity. No decision in the EC is taken by one person. All decisions are collegial and taken after discussion of proposals put up by smaller groups.
All financial decisions are cleared by the EC. We have a cost accountant , a chartered accountant and an auditor all of whom verify bills and accounts. We have made mistakes and the GB has been informed of this. The mistake lay in misplaced trust. We hope the steps that we have taken over the past two years will reduce the chances of similar mistakes in the future.
Accounts: The audited accounts were sent to you together with the notice of the meeting . We continue to have a surplus because of our prudent management and collection of arrears . We have constituted a reserve of app RS 64 lacs over the past 13 years which are held in fixed deposits. In the absence of a sinking fund, these funds will help us to fund infrastructure work as and when required.
However in view of the rising running costs we feel that the AMC needs to be increased with immediate effect to Rs 9000 per plot per annum . We have also decided to create a corpus fund by raising a sum of Rs 600 per plot per annum . This will be in addition to the AMC . We request the General Body to ratify this decision . A resolution to this effect will be moved at the end of the meeting.
The association has made income tax payment as required.
The year in review: As you will notice we have started on the refurbishment of the CH and this will be continued with the refurbishment of the changing rooms ,improving kitchen facilities and the provision of a second guest room.,
The swimming pool is under professional management now and while this is an increased cost , the pool is too valuable an asset to be neglected.
We have successfully drilled a new bore well during the past year which will increase the supply of water available .
We will soon have a new home in RRV . Manish Jhawar’s home promises to be a tourist attraction and hopefully will encourage more members to build homes.
We have kept members informed of the issues stemming from the Madras HC decision on registration of plots in unauthorised lay outs. The latest position is that registration of sales in already registered plots is allowed . However there is no doubt that we will have to face the issue of regularisation once the rules for the same have been clarified.
I take this opportunity to thank the estate manager and all the staff as well as all my fellow members who served on the EC this year.
I take this opportunity to thank the estate manager and all the staff as well as all my fellow members who served on the EC this year.