we hv told our regular vendors & contractors that the payment for the coming few months will be delayed, most likely can only be settled in full in Dec'09, when the new car sticker be issued.
we did foresee this, even b4 we hv issued the car sticker in month of June (pls refer to article & comment earlier), but it took us awhile to find out that 85% hv settled Jan-June service charge coz of sticker, but abt 60-65% continue to pay after collected it.
those "extra" money hv collected in June coz of sticker, used mainly to cover the shortfall for the month of July & August, & other urgent major repair works like water tanks, generator, capacitor bands, etc, also used some for the new parking area, which is the investment for the future return, we should see the full return in the next renewal in Feb 2010, then after, it should consider as net income.
even though we hv confident that by end of Dec'09, collection will surge up to 85% for July-Dec when residents collecting new sticker, but it's important to help residents to cultivate habit to settle their SC promptly, so that we can hv sufficient fund to attend to the urgent maintenance cases as some non-regular vendors only accept cash term.
we plan to call an EGM in the near future to address this problem, so now let all of us (resident & committee) start to think of few ideas, then we will hv an excellent brainstorming session in the EGM to overcome this financial nightmare, which hv been haunting almost all the medium cost apartment in PG.
so, let's start thinking....
thanks.
cheng/JMB
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