Increase in Maintenance Fund

View previous topic View next topic Go down

Increase in Maintenance Fund

Post  hillbrookser on Thu Mar 14, 2013 2:05 pm

Just received my AGM document. First thing I check is the Resolution on the Maintenance Fund. It will be $73/share value/month. This is an increment of $11 or around 18% from the current amount of $62. It is a hefty increment. No way.

hillbrookser

Posts : 1
Join date : 2013-03-14

View user profile

Back to top Go down

Re: Increase in Maintenance Fund

Post  hillybilly on Thu Mar 14, 2013 2:25 pm

I will not support the Resolution.

hillybilly

Posts : 8
Join date : 2013-03-14

View user profile

Back to top Go down

Re: Increase in Maintenance Fund

Post  crystalclear on Thu Mar 14, 2013 3:17 pm

Have just browse through the AGM documents. There is still $201K in the Management Fund. There is a circular claiming that the we were running an average deficit of $26K in the past few years. In that case, the Management Fund can still last for about 7 years. There is no need for such hefty increment at this time. I agree that the better alternative is to look for ways to cut cost.

crystalclear

Posts : 20
Join date : 2013-03-14

View user profile

Back to top Go down

Re: Increase in Maintenance Fund

Post  singawala on Thu Mar 14, 2013 4:05 pm

crystalclear,
what you have said makes sense. there is no urgent need to the increment.

singawala

Posts : 11
Join date : 2013-03-14

View user profile

Back to top Go down

Re: Increase in Maintenance Fund

Post  hb_resident1 on Sat Mar 16, 2013 10:18 am

The reasons given for the increment are not justified. They will have to show proof that there is no other alternative, like cutting-cost.

hb_resident1

Posts : 1
Join date : 2013-03-16

View user profile

Back to top Go down

Re: Increase in Maintenance Fund

Post  awtaman123 on Sun Mar 17, 2013 6:21 am

The rest of the council should go through Mr. Ng's cost-cutting proposals. What they put up on the notices which they pasted on the mirrors of the lifts are not true afterall.

awtaman123

Posts : 3
Join date : 2013-03-17

View user profile

Back to top Go down

Re: Increase in Maintenance Fund

Post  crystalclear on Thu Mar 21, 2013 1:11 pm

It all depends on how they do their budget. Last fy actual expenses was $884K. They are budgeting for $968K for this fy, an increase of $84K! Let's see how they will justify for this.

crystalclear

Posts : 20
Join date : 2013-03-14

View user profile

Back to top Go down

Re: Increase in Maintenance Fund

Post  Sponsored content


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum