Observation regarding Society Annual Accounts 2010-11

August 5, 2011
The Hon. Secretary,
Saket CHS Ltd.,
Thane
Sub: Secretary’s Report and Annual Accounts for the year 2010-2011
Apropos the above I am submitting my observations and suggestions:
Secretary’s Report:
1. As regards the Committee Meetings and Members attendance, I find that only 10 MC meetings have been held in the year.( Same as last year). As per the Bye-laws, at least 1 meeting should be held every month. I am surprised as to how the Auditors have not pointed this out. Hope you adhere to this in future.
2. I find that 7members have attended only 4 or less meetings. One has resigned. So carrying 8 dead weights is not a healthy sign. Even last year the picture was same. Hope you rectify it this year.
3. Providing play equipment to kids play ground: this point is a repetition last year. But now that TMC has constructed a beautiful Children’s Park opp. to A10, I feel we should not waste money on buying equipment for the Children’s Park and use it elsewhere.
4. Many points are Cut-Paste jobs from last year’s report e.g. –MC apologizing to Children…( which I feel is no need), Senior citizen..(this is appearing for the 3rd time- with no progress on the same), Security..,Pt. no.3 on notes to accounts..!
Accounts:
1. Reference to Schedule D: I suggest that the item of Property Tax receivable from members (Rs. 4.23 lakhs) has been appearing for the past 5 years in succession with no progress on the matter. In the past, a lot of discussion has taken place and reasons assigned that ‘we are trying’ to recover. In absence of any chance of progress, I suggest, that the same may be written off.
2. Same goes to Rs. 4.29 – amount receivable from Wescon Properties. This is Rs. 750/- he has to pay back from Society registration amount. This is reflected for the past 1o years and is not coming. In fact, we all contributed and got our registration of society done. If the chances of this coming to us are almost nonexistent, I suggest that this should also be written off.
3. Reference to Schedule H : Amount of Rs. 4.14 lakhs showed as payable to Members. This is from the 4.29 which we were to get from Wescon. Firstly, that money is not coming, and secondly, we are unnecessarily showing this amount as a liability of society to members. And, to whom will you pay ? There has been such a huge turnover of members, that the original members are mostly all gone. I suggest that we remove this amount the accounts and clean the accounts to have a realistic picture.
Regards,
Dayanand Nene