Dear Residents,
We are happy to announce that our facility, finance & power committees have released their reports for the month of September.
FINANCE REPORT
Highlights of September 2022 LPERA Finance Report
- Revenue from Token Purchases remains stable when compared. We expect to see an improvement in October as we return to the 24-hour power supply.
- Our spending on power shows that while there has been a general improvement since July in EKEDC supply and a decrease in diesel consumption, there was a decline recorded in EKEDC availability in September when compared to August.
- Under the Services and Operation segment, our cash flow continues to remain stable as we do our best to control our costs and plan our spending better. We also commenced the renting of our plastic tables and chairs to residents in the month. This is to help us generate funds from such idle assets.
- In the coming months, the association will be undertaking some projects (new and ongoing) in power, water, and general facility management areas that have become crucial.
- Earlier in October, we received N25m from Mr. Richard Nyong. This sum represents a partial reimbursement to the association for a capital project done by us in the past. The Chairman will provide more details on the N25m received and additional reimbursements/support expected from Mr. Nyong.
POWER COMMITEE REPORT
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