Page 162 - FINAL MASTER 616pp 20-6-19

you are getting for the fees charged at present is quite staggeringly good despite your accusations of non-transparency (the mere fact you can ask the questions you do and get a reply answers that one), the careful husbandry of all expenses including these (now partially) on-going works, leaving aside a 40% three year reduction in Quarterly Demands yet still maintaining Mitre House properly (and no stupid comment about not keeping Reserves fully funded - they have been and are to any sensible and affordable proportion to those not renting out at £650 a week and paying £1000 a week rental down the road.... you live in a different world than some of us). BUT, despite Management's advice to not overspend, using firstly what Management proposed in their £25,000 budget for the Internals, you and some other lessees insisted on A.R. Lawrence's agreed £105,019 which required a donation from all lessees of £2000 (as per Section 20 dated 22nd June) as only £98,262.75 was in Reserves once September (usual) Quaterlies was paid. Of which as example Flat 9 have contributed £3600 odd (as indeed have Flats 1 and 3) - which makes them pretty junior partners in how it gets spent when the average is nearer £14,500 for old timers.
xvii)_Shortages & Overdrawn (ref (xvi) above - your maths will no doubt agree that £105,019 less Reserves of £98,262 amounts to a shortfall of £6757 - leaving not a red cent in reserves to cover any additional exterior works or contingencies at Mitre House (such as the regrettable Water Tank replacement costed now at £7810.80 incl. vat) And do NOT forget, Management had sourced an alternative quote (Benitor) for exactly what we had in Reserves, namely £98,000. As you will recall, the Benitor quote was rejected and consequently your choice of A.R. Lawrence was adopted for £105,019 on the understanding that a minimum £2000 would be required from all lessees, despite objection from three lessees who are the only ones who have paid and now lucky enough to be fully reimbursed. If that ain't a stupid and retarded situation to have placed Mitre House/the works/the schedule/all lessees in, tell me what is?
xviii)_Shortages & Overdrawn - cont 2. Had all lessees (instead of just three, now reimbursed) paid the agreed £2000 (as per Section 20 dated 22nd June - attached) approx. £11,243 would have been available in Reserves for panics.
xix)_Shortages & Overdrawn - cont 3. That £11,243 COULD (I REPEAT COULD) have been used for the Communal TV install (£3900) so tidying up both frontage, rear and roof of all redundant cabling etc AND WILL BE REQUIRED to pay the £7810.80 for the new replacement Warer Tank (£3900 plus £7810.80 = £11,710.80 versus in Reserves once all lessees pay their Quarterlies plus their £2000 of only £11,243 - ie we're broke again with a deficit of £467.80
xx)_Shortages & Overdrawn - cont 4. BUT THANKFULLY, the December Quarterlies will then have been due (25 December 2014) which would not only have replenished the Reserves but as previously indicated, we could have clawed back the Communal TV Install monies (£3900) - if it had proceeded, but now cancelled - by simply adding on a miserable £108 per lessees per each of the four quarters for YE2015 - simple accounting and nobody gets hurt or has to pay.
That's it - anybody who can't understand all points above is without doubt stupid or retarded - but all academic as rescheduling has now taken place, there is no need for anyone to pay the additional £2000 but best you pay the other usual amount or further reductions will entail and if we can't afford to pay for the emergency installation of the new tank (see attached quote £6509 plus vat), we'll probably all die of poisoning including your tenants - so beware.
And please no accusation that the tank is Management's fault. It's an act of God, that's all, out of the blue emergency, like the lift failing or a pipe breaking - nothing else. If we had Agents there'd be an emergency call out, mammoth fees on top, and a cost probably