Audited accounts for 2006

I wonder how many of the residents at Prima are aware that the audited accounts for the year 2006 is displayed on the notice board. The audited management accounts for Prima is up- to- date at the moment. Two sets of accounts are produced in the same year. I can only speculate that the management is trying to comply with the Building and Maintenance Act which has been in force since April 2007. Hopefully, this may pave the way for the setting up of the Joint Management Body for Prima. Up-to- date audited accounts is one of the requirements for the setting up of the JMB which gives us the right to manage our own properties. With the setting up of the JMB, we don't have to beg the developer for a copy of the audited accounts. We are the ones to decide on how our money should be spent. The R.A. was not given a copy of the audited accounts. I still have to use my photographic skill to take them from the notice board.

Although I am not an accountant, I can see that our account is still very healthy. There is still a surplus of more than a million ringgit ( RM 1,258,535 ) at the end od the year 2006. More than Rm 940 000 is placed with a financial institution as a fixed deposit earning an interest of RM 26,375. Our sinking fund should have exceeded a million ringgit if not for the utilization of RM 86,256 for a road resurfacing work done in 2006. This is the first time the management utilized the sinking fund to carry out an upgrading work. Please note that the resurfacing work was done at the management's own initiative. It was not the R.A's proposal. This explains that the management can do anything without referring to the R.A. The residents should understand that the R.A. only serves as a watchdog for Prima Setapak. We can only complain and propose, we have no right to make decisions for our own properties. That is the reason why I often highlighted the importance of the setting up of Joint Management Body ( JMB ) which is provided for under the BUILDING AND MAINTENANCE ACT 2007 which was gazzeted in April 2007. I shall try to post the details of the accounts for you all to peruse in my blog. I am sorry that you have to strain your eyes to study them. What can we do, we were not given a copy of the accounts. Just imagine, the R.A. does not have the right to possess a copy of the audited accounts. We are just toothless tigers.

1) Income


2) Expenditure

3) Sinking fund

4) The final balance

Before I end the blog, I have to say something about the security guards. Generally, they are better off than some of the service guards at Sri Pelangi and Genting Court. But then, we should not use the guards from these two condos as comparison. We should use the security from the condos at Mont Kiara as the benchmark because we are paying the same amount as what the condos at Mont Kiara are paying for their security services. I caught one of guards reading newspaper while I was walking to the market. This particular guard was still reading the newspaper while I was walking back to the condo. He quickly put the paper away when he saw me. I shall have a word with their chief very soon. The guards are still allowing some of the previliged owners to come in without the access cards. I was told that these owners have two cars but they have only one card. I really don't have to teach them what action to take. If I were to do that, I better take over the security services. Anyway, getting a good security company which can really perform is the biggest headache for any mangement company in any condos.

Goodnight and have a nice day