Dear Residents,
In response to questions raised in our WhatsApp group by residents regarding our financial status, please
allow me to clarify some of the concerns raised.
WWMCA cannot force residents to pay dues since we are not a registered strata community. Neither can
we post their names on notice boards in a bid to shame them. The only option available, is to make an
appeal to residents and hope they respond favorably.
Our practice
➢ When dues are collected, the treasurer collects both cash and receipts books and a reconciliation is
done. Lodgments are done in a timely manner. Persons paying dues are entered into a database of
residents so that information relating to outstanding dues can be addressed.
➢ Monthly statements are prepared and circulated to members of the executives for their review.
Depending on activities within the community, quarterly or half yearly statements are sent out to
residents via WhatsApp and email.
➢ The fact that we are a registered charitable organization, audits are done annually as required by
that body. However, this charitable privilege was suspended due to the absence of filing of returns
over the past 4 years. The returns are now filed so we will be applying for reinstatement as soon as
possible.
➢ The Treasurer is also willing to make the receipts books and financial statements available to any
resident wishing to review same.
➢ A database of residents living within the community is maintained and is updated as necessary.
One critical information captured is if the occupant(s) of the house are the owner(s) or rented. This
information is very helpful when planning large projects that require extensive funding. Based on
our experience, occupants who are not homeowners, are hesitant to contribute to the monthly
dues or to any project that require financial contributions.
Our executives represent you and your interest in the community. Not everyone will agree with all
suggestions put forward and that is why important decisions are put to the residents for a vote. This is
usually done at our general meetings to which all residents are invited (another reason to attend the
meetings).
Financial Overview – June 1, 2021 to December 31, 2021
Here are some important information relating to the below financial statement: –
1. This administration took office at the beginning of June 2021 with an opening balance of
$365,771.00 and seven (7) months later (31 December 2021) we closed with a balance of
$711,472.60
2. Maintenance Dues over the period amounts to $626,835 and was collected through direct
payments or lodged to our bank accounts.
3. Tag Drive collected for the period amounted to $254,788.00
4. Of the amounts collected, $536,303.22 was spent as outlined in our expenditures over the period.
I hope this information provided is useful. Thanking you for your continued support as we try to build a better community.
Regards,
Peter Hutchinson – Treasurer