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‚Äôs healthy cash flow generation in 2021. Zevendal‚Äôs 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‚Äôs 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‚Äô approval in the upcoming AGM. ‚Äď Pieter van der Spuy

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