10/21/ Ferns PARADISE AGM SEP 2009  PRESENTATION  By  Management committee

10/21/ Agenda 1.President’s Address 2.Annual Report 3.Adoption of Audited Accounts 4.Amendment of FP Bye-laws 5.Appointment of Auditors 6.BREAK (20 mins)

10/21/ Agenda (Contd..) 6.Financials 1.Proposed Budget FY Revised Maintenance Charges wef. FY Approval of Sinking Fund Scheme 4.FBD Receipts and Dues 5.Regularization of Expenditure exceeding Rs Outstanding Issues/concerns 8.Any other matters and close up.

ANNUAL REPORT – 2009 Major Achievements  Security System  NOC Procedure  FP Club Rules  FC Club Usage by FP Members  Entry Road to FP & FC and St Lighting  Environment Initiatives  Upgraded Communication System  Web Site  Direct Mailing  SMS Alert  Yahoo Group  Entertainment  Landscaping 10/21/2015 4

5 Annual Report (Contd..) Financials  Stream Lined and automated  Settlement of Dues from FBD  Significant Improvement in Collection

ADOPTION OF AUDITED ACCOUNTS  Accounts of FY have been closed and have been audited  Balanced Sheet, I & E Statements along with the Audit Report have been sent to all members  It is now proposed for adoption.

10/21/ Amendments of FP Bye Laws  House Construction Rules ( Ch 11)  Club Rules ( Ch 12)  Recurring Fee, Penalty Interest and Defaulters (Ch 2 sec 2)  Audit & Elect Committee members : Min no. reduced to 2 and 3 resp. (Ch 6)  Revision of Financial Powers of MC (Ch 10 Gen)  Corrections of errors : address, Chapter Numbers etc.

Maintenance Fees Incentive Scheme The payment scheme : (proposed for onwards):  Annual Fee is payable by all plot owners on 1 st April.  A rebate of 5% if paid by 30 th April.  Beyond 30 th June,  a penal interest of 2% per month.  Member’s name will be included in the defaulters list.  The defaulters list published on 1 st July.  Member name removed from the Defaulters List only on payment of all dues including arrears and interest.  If dues not paid by 30th September, member will no longer be entitled for any facility/services provided by the Association such as Water Supply, Security, Garbage clearance etc.  Defaulter cannot stand in elections, cannot vote or participate in AGM/EGMs.  Defaulter will not be issued NOC for construction of house.

 Annual Charge is payable by all plot owners on 1 st April.  A rebate of 5% if paid by 30 th April.  Beyond 30 th June,  a penal interest of 2% per month charged.  member’s name included in defaulters list.  Defaulter for 3 years, loses membership of the Club.  Membership can be restored on payment of a re-entry Charge of Rs.50, 000/- + current year Club House charge. Payment Scheme for Club Charges

Appointment of Auditors  Mr. S. Rajagopalan had been appointed as the auditor for the FY at a remuneration of Rs

Ferns Paradise Financial Update and Budget for Managing Committee

Proposed Budget Layout Expenditure (Ph1) ( Ph1,2) (in Lacs)  Security  Electricity  Salaries  Site maintenance  Office Admin & Misc  FBD Bill for phase  Sub-total  Contingency02.00  Projects and Capex  Grand Total

Proposed Budget Contd.. Planned Projects New Borewell: 1,50,000 Groundwater Recharge: 1,50,000 Motor and Motor room: 50,000 Storm water Drain mesh : 40,000 Landscaping and trees: 30,000 Benches for school kids: 20,000 Celebration expenses (AGM, 26 th Jan,15 th Aug): 40,000  Layout Map: 20,000 Total : 5,00,000

Proposal for Approval  To move ahead with the proposed projects with amendments if any

Budget Contd.. Collections: Layout Maintenance Collections (in Lacs) – Phase Due/Actual Vacant: 9.65 / / 4.62 Built: / /10.64 Total: / /15.26 – Phase 2 Vacant:12.12 / / 0.80 Built:1.74 / /1.20 Total:13.86 / /2.01 Total Due/Actual Collections: /17.28 Projected Collections:24.00

Proposed Budget Contd.. Collections from FBD  Maintenance  Due(incl advances)  Collected  Advances0.61  Club House  Due  Actuals3.380  Balance from owners1.61  Total Collected from FBD : Rs Lacs (In Lacs)

Budget Summary for  Collections Due:  Estimated Collections:  Water Charges: 5.00  Total Collections:  Estimated Expenses:  Projected Difference:(-)4.86 -For the current year the difference will be taken from previous surplus/arrears collected. -For , we propose to increase the Layout maintenance charges (In Lacs)

Proposal for Approval  To move ahead with the proposed Budget with amendments if any

Revision of Layout Maintenance Charges  To meet the Budget deficit  Increase Maintenance charges by Re. 1 per sq ft for built and under construction plots  Increase maintenance charges by 50 paise per sq ft for Vacant sites  This will add Rs.9.0 lacs to the collections billed of which we expect 6.0 lacs to be collected

Proposal for Approval  To move ahead with the revised maintenance charges with amendments if any

Sinking Fund Scheme Objective: Build Sinking Fund up to Rs.1.0 crore :  Road Repairs, Wall, Bore wells  Electrical Repairs,  DG set for street lighting  Repainting of Clubhouse etc

Sinking Fund Contd..  The actual surplus fund for Layout maintenance and the Clubhouse should be deposited into the Sinking Fund within 3 months of the FY beginning by the MC  Sinking fund to be put in a multi Deposit in a Nationalized Bank  Interest on sinking fund will be used for emergency expenditure fund  Usage of any funds from Sinking fund will require AGM approval prior to expenditure.

Deposit to Sinking Fund  Rs.10 lacs towards Layout Maintenance  Rs.10 lacs towards clubhouse account  These will be in FD accounts

Proposal for Approval  To move ahead with the proposed creation of sinking fund with amendments if any

Club House Budget Expense Details CLUB HOUSE EXP  SECURITY 1.5 LAKHS  ELECTRICITY 1.47 LAKHS  SALARIES 0.82 LAKHS  SWIMMING POOL 1.20 LAKHS  REPAIRS 0.60 LAKHS  MISC 0.55 LAKHS TOTAL EXPENDITURE 6.14 LAKHS

Club House Budgets Summary  Total number of households: 238  Annual charges(owner/tenant) : 8000 /12000  Total collection Due: Lacs  Actual collections: 9.85 Lacs  Towards facility in FC(actual): 3.69 Lacs  Projected Annual expenses: 6.14 Lacs for facility in FP  Total expense: 9.83 Lacs  Excess/shortfall: (+) 2,170

Club House Budget Contd.. Proposed Projects  Music System :Rs Lacs  Glass Roof for 1 st Floor open area:Rs.75,000  Total:Rs Lacs

Proposal for Approval  Club House projects with amendments if any  Club Subscription to remain same  Projects funding will be from last year’s surplus and arrears collected

Regularization of Purchases  Security SheltersRs 40,702  LadderRs 31,798  Office ComputerRs 28,000  UPS for GateRs 27,000  Extra SecurityRs 35,527

Basic Data of Layout  Area Phase 1:7,84,705 sft  Area Phase 2: 5,63,924 sft  Total Area: 13,48,629 sft  Vacant area/plots: 8,96,361 sft  Built or under area/plots: 4,52,268 sft  Present Rate (vacant) : Rs. 2.5 /sft  Present Rate : Rs. 3.0 /sft (built/under-construction)

Comments on Budget  Maintenance Surplus (includes):  Receivables: 7.41  Capex (Assets): 1.46  Club Surplus includes:15.06  Receivables: 8.21  Capex: 0.24 In Lacs

10/21/ Outstanding Tasks and Concerns  Work Pending with Registrar’s Office  Water Management  Formal Agreement with FBD on  FP Club House  Lay Out Maintenance Charges for some Plot owners in Ph 2 beyond FY  Sakrama!!

10/21/ THANK YOU