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Costambar is a beach community located in Puerto Plata, Dominican Republic.
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 CRIC Financial Report 4/14/11

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Posts : 84
Join date : 2009-04-06
Age : 80
Location : #50 Paseo de la Laguna

PostSubject: CRIC Financial Report 4/14/11   Thu Apr 14, 2011 10:48 am

The following report refers to six attachments that are not present in this post. Anyone interested in seeing these attachments can email me at and I will send them to you.

The Costambar Road Improvement Committee (CRIC) Financial Report


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.


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.


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.

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Posts : 74
Join date : 2009-04-10

PostSubject: Re: CRIC Financial Report 4/14/11   Tue Apr 19, 2011 1:10 pm

Good morning Bob
I would like the attachments e-mailed to me please, I think you have my e-mail if not i will send it to you.

Some of the content of the report is a worry, not sure if Yash or Hemu read this forum but if either of you do then please do the right thing and return to the C.R.I.C. what is right fully theirs
Since the C.R.I.C was formed you have all done a good job with limited funds, the fund raising is a big part of getting the roads done ( flowers and such like would be very nice but not essential ) you were right not to give such a large amount of money when a lot of work is still to be done on the roads.
I dont think anybody has the right to tell you what night you can fund raise if they are no longer part of it.

Bob all I can say to you is thank you for the reoprt also for making the people of Costambar aware of the situation, I am sure you will do the right thing in making sure it is returned to its right full owners.

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Posts : 142
Join date : 2009-09-08

PostSubject: Re: CRIC Financial Report 4/14/11   Tue Apr 19, 2011 10:09 pm

I do wonder about this place sometimes ...
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Posts : 74
Join date : 2009-04-10

PostSubject: mmmmmm   Wed Apr 20, 2011 9:52 pm

mmmmmmmmmmm Mark
please clarify your remark lol, what do you wonder? and about who?
me!!!!!!!!! the reoprt !!!!!!!!!!!!or the refusal of some to give back what is not theirs ??????????

the power??the water?? what lol
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Posts : 142
Join date : 2009-09-08

PostSubject: Re: CRIC Financial Report 4/14/11   Thu Apr 21, 2011 12:07 pm

Let's put it this way Sue .... there are no cattle in Costambar but a surfeit of bullcr@p lol
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CRIC Financial Report 4/14/11
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