Residents Meeting at The Parks, Ilford - Budget and Accounting Insights
"Discover key details from the recent Residents Meeting at The Parks, Ilford, focusing on budget preparations, balancing accounts, recent charges, and future works. Gain insights into the financial management of this RMC organization. Stay informed about the processes and issues discussed to enhance transparency and community collaboration."
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Presentation Transcript
The Parks (Ilford) Residents Meeting 26/04/2023
Resident Meeting - Agenda Introduction Budgets and Balancing Accounting Recent Charges/Costs Future Planned works Car Park Issues Questions/Suggestions/Complains
Introduction The Parks (Ilford) is an RMC (Resident Management Company) It s a non-profit organization that is formed by residents in a block of flats as well the houses There are 5 Directors, all started from July 2021 Website: https://theparksilford.org.uk/ WhatsApp group Issue Logging System Email: Management.Team@theparksilford.org.uk Redrock started as Managing Agent from July 2021 Jeremy is main point of contact
Budgets and Balancing Account Every year Budget is prepared by RedRock in June and then approved by the Parks Directors The budget is then sent to everyone in July Following Year in December, the final account is prepared and balance is issued to everyone We have been late issuing the Final Balancing accounts for part 2 year. Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Year 1 Budget Year 1 Budget Year 2 Budget Year 3 Year 2 Bal Year 1 Year 3 Bal Year 2
Budgets and Balancing Account 2020 Closing was delayed due to JPW 2021 Closing was little delayed due to concerns/questions/old invoices Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 2020 Budget 2020 (JPW) Budget 2021 (RR) Closing 2019 (JPW) 2021 Should ve been done here 2022 Budget 2022(RR) Closing 2020(JPW) Budget 2023(RR) Should ve been done here 2023 Closing 2022(RR) Closing 2021(RR)
Recent Charges/Costs (Houses) Years Budget Expense Closing Balance Total Note Done by JPW Budget Document Final Accounts 2020-2021 443.07 145.56 588.63 Done by RedRock. This year includes CCTV. Budget Document Final Accounts 2021-2022 400 7.50 407.5 Done by Red Rock. Budget Document Year not closed yet. 2022-2023 288
Recent Charges/Costs (Blocks) Closing Balance Years Budget Expense Total Note Done by JPW Budget Document Final Accounts 2020-2021 1426.68 477.87 1904 Done by RedRock. This year includes CCTV and previous year late invoices and roof works. Budget Document Final Accounts 2021-2022 1466 406 1872 Done by Red Rock. The budget contains the interior decoration component. Budget Document Year not closed yet. 2022-2023 1563
Recent Charges/Costs (Block G) Closing Balance Years Budget Expense Total Note Done by JPW Budget Document Final Accounts Done by RedRock. This year includes CCTV and previous year late invoices and roof works. Budget Document Final Accounts Done by Red Rock. The budget contains the interior decoration component. Budget Document Year not closed yet. 2020-2021 1920.51 550 2470.51 2021-2022 1842 493 2335 2022-2023 2031
Future Plans/Works Interior Decoration Company KBK Property Services (Door Included) Carrington Decorators (Door Included) Bourne Construction(Door Included) Simply Business Burim Quote 64,100 plus vat By RR 78,200 plus vat RR 41,878 plus vat RR 82,125 25,300 + 7,600(door) Antonio Agnieszka
Future Plans/Works Carpets Company Floor Direct Ltd Quote 30,111.40 plus vat By RR Door Company Ken Rhodes Chigwell Window Centre Quote 47,000 plus vat 30,912 plus vat By RR RR
Car Park Issue Recent Issues with Car Park Company, issuing tickets outside the bay. Cancellation of the tickets take forever. New company starting from 25th June Jeremy to update
Question Time Questions/Suggestions/Complains
