The following report refers to six attachments that are not present in this post. Anyone interested in seeing these attachments can email me at rdc_mmc@yahoo.com and I will send them to you.
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The Costambar Road Improvement Committee (CRIC) Financial Report
Background
CRIC was formed in 2009 as an independent committee dedicated to the maintenance and repair of the streets in Costambar. Its creation was motivated by the realization that projected APC funds would not be available for road repair and that only an organization funded by individual donations could meet the challenges offered by Costambar’s deteriorating streets. The committee’s independence from APC was deemed necessary because the committee’s charter was to address road issues based on the whole community’s needs, without regard to the allegiance of a street’s individual owners. Thus the committee could appeal to all of Costambar for donations.
Mission
CRIC’s board has, from the beginning, focused on its core objectives, which are maintenance and repair of the roads inside Costambar. This focus was challenged in 2010 when Hemu Aggarwal demanded that CRIC divert 50,000 pesos into a separate account for her exclusive use in the “beautification” of Costambar (see attachment # 1). The CRIC board’s refusal to give her the money established, once again, that the committee’s mission is focused on street maintenance and repair.
Current Board Members
CRIC consists of Manlio Del Degan and Andy Broersma (Co-Chairmen), Rafael Belliard (Secretary), Bob Curtis (Treasurer), Gene Dilorenzo and Abby Inoa.
A sub-committee, created for the purpose of planning and executing various fund raising activities was created shortly after CRIC was formed. This committee was given autonomy in their methods, subject to the usual financial constraints (i.e. supplying of financial reports and requesting of authorization for capital expenditures).
Financial Statement Overview
As of 04/10/2011 CRIC has raised approximately 527,000 pesos and spent approximately 337,000 pesos on road repair and 30,000 pesos on projection equipment, leaving a bank balance of approximately 160,000 pesos. (See attachment # 2 for a summary of income and expense for 2009, 2010 and 2011.)
Financial Statement Detail
Complete transparency is a requirement of any charitable organization such as CRIC. Therefore for those interested in the details, attachment # 3 supplies data on all income and expense items, plus quantity totals of sand, cement, gravel purchased, as well as labor costs.
Future Plans
While CRIC has been addressing pot holes, flooding and erosion, street “bumps”, etc., the problems on Paseo de la Laguna go beyond “patching”. For a large portion of this street only a complete resurfacing will do. To that end CRIC has approached both APC and Los Mangoes for financial help. The results are encouraging. The APC has promised 100,000 pesos upon presentation of an acceptable plan for resurfacing parts of Laguna, and Mr. Valarino has offered the use of a asphalt laying machine (and operator) at no cost to CRIC. This work will be started in January, 2012.
Future Fund Raising Efforts
Unfortunately, the committee’s refusal to divert money to Hemu Aggarwal resulted in Hemu and the remaining four members of her committee (Janet Dilorenzo, Archange Gallant, Denise Inoa and Thelma Vicari) to resign from their fund raising subcommittee in order to start an autonomous fund raising committee, not accountable to CRIC. Since three other members of this subcommittee had already quit due to issues relating to Hemu’s decision to demand the 50,000 pesos, CRIC is currently looking for volunteers to assist us.
While the departure of Hemu and her committee members was a disappointment to CRIC, the refusal to return the video equipment to CRIC (valued at 30,000 pesos) has put us in a difficult position. We don’t wish to go through the courts, as this will expend money that should be used for the roads. However, all our attempts to date to have the equipment returned have been met with no success. In fact, Hemu has attempted to get the APC board to sanction her actions by declaring that the equipment really belongs to her (see attachment # 4). To make matters worse, Yash Aggarwal has notified our committee chairman that we can no longer run fund raising events on any Friday, as Fridays belong to Hemu and her new committee (see attachment # 5).
Since, the ongoing maintenance of the Costambar roads is going to require a continued influx of funds, we ask you the residents to appeal to the members of HHC to relinquish the video equipment to CRIC. The equipment was purchased with funds donated by you to CRIC to continue fund raising for road maintenance, not for HHC's unannounced "worthy causes", whose recipients receive funds at HHC's "sole discretion (see attachment # 6). We trust that they will continue their fund raising efforts by way of other avenues.
Summary
The committee wishes to thank all the Costambar residents, who, through their support for the events and outright donations, have enabled CRIC to demonstrate that through genuine corporation we can make our home here a better place.
Thu Apr 14, 2011 10:48 am