Zevendal Finances – 1 March 2020 to 28 February 2021

A MASSIVE thank you to Willem Sadie for the time and effort he put into the Zevendal finances.  For the past financial year, he took each expense from the Zevendal current account bank statement, and in added it to a spreadsheet with reference to the specific vendor and general ledger code.  That means that he has a record of each outgoing bank transaction per vendor.  A mammoth task with huge value! The spreadsheet can be viewed / downloaded in the link above or here –> 2020 / 2021 Expenditure spreadsheet.

Also to Pieter van der Spuy who went through the audit reports and made sure that EVERYTHING is in place and a correct representation of the financial bookkeeping.  –  Hugo Oberholzer

Zevendal’s overall financial position appears strong, despite Covid-related economic factors experienced during much of the 2021-financial year. Zevendal’s balance sheet shows significant growth in reserves of 22% in 2021, which is also reflected in the strong cash-position at the end of 2021, up almost 26% since the previous financial year. Zevendal’s debtors, in the form of outstanding levies, showed a modest decrease since 2020, despite Covid-related pressure on many residents’ personal finances.

This explains Zevendal’s healthy cash flow generation in 2021. Zevendal’s income statement reflects a surplus of R140 000, which is indicative of conservative financial management, but also of certain capital expenditure initiatives that could not be fully completed as envisaged. Zevendal’s healthy cash-position puts it in a favourable position to accelerate the implementation of planned capital expenditure of more than R250 000 committed in 2022, pending residents’ approval in the upcoming AGM. – Pieter van der Spuy

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