Are Projections Being Overestimated? A Closer Look at Community Expenses
Dear Residents,
It is our collective responsibility to ensure transparency and financial prudence in community decisions. Upon reviewing the financial projections shared by the current management team, several concerning discrepancies have surfaced. Here’s a breakdown of the key issues:
1. Electricity Bills: Overestimated Projections
- Actual Average Bi-Monthly Expense: ₹23,41,955
- Projected Amount: ₹26,00,000
- Excess Projection: ₹2,58,046 (10% higher than actuals)
Question: Why inflate the projected amount when historical data consistently shows a lower average? Such unnecessary surplus projections only place an unfair burden on residents.
2. IFM and Security Costs: Inflated Estimates
- Average Monthly Expense: ₹11,45,687
- Next 3 Months Actual Requirement: ₹34,37,060
- Projected Amount: ₹42,00,000
- Excess Projection: ₹7,62,940
Question: Why are these estimates so inflated for essential services? Such projections suggest inefficiencies or attempts to include unrelated expenses, which unfairly impact residents.
3. Outstanding Rental Collections: ₹6,45,000 Unrecovered
Locked rentals and other outstanding amounts remain uncollected.
Question: Why is there no urgency in recovering pending dues? Prompt payers are being penalized while outstanding amounts are ignored. Collections have significantly slowed since the new team took charge—why?
4. Advance Tax Payment Without Rental Income
An advance tax provision of ₹1,50,000 has been made without recovering rental income.
Question: How can tax obligations be justified without ensuring rental collections? Why are residents being asked to cover the gap caused by inefficient financial management?
5. Gym Trainer Payments Pending
The gym trainer, who started in March 2023, has not been paid yet. Previous management streamlined operations and ensured timely payments, except for one trainer who refused to comply.
Question: Why has this issue remained unresolved? Residents should not be asked to fund recurring delays when the matter could have been addressed months ago.
The Big Question: Are We Paying for Mismanagement?
Instead of focusing on recovering dues and optimizing resources, inflated projections are being made across key expenses. This raises serious concerns:
- Why has rental recovery stalled?
- Why are inflated budgets being pushed while inefficiencies persist?
Residents Demand:
- Accurate Recalibration of Projections: Projections must reflect historical averages and actual needs.
- Immediate Collection of Outstanding Dues: Locked rentals and pending collections must be recovered without delay.
- Full Transparency in Fund Usage: Clear and verifiable reporting is essential to prevent inflated demands.
Until these issues are addressed transparently, residents must question why they are being asked to fund inefficiencies instead of effective solutions. Financial accountability and resident trust must remain the top priorities.
Regards,
Your Voice for Accountability and Transparency
