Communication regarding funds currently in the bank account of Rivonia Woods Residents Association RWRA
1 April 2025
Please read this article for some further context http://rivoniawoods.co.za/the-curro-donation/
1. The funds which are currently in the bank accounts of RWRA are split between a current account and a fixed deposit account.
2. All payments to various service providers have been paid timeously and when presented with an invoice – this pertains mainly to the road closure.
3. It is the intention of the current directors of RWRA to:
a. Transfer the funds from the current (Opex) account to the new resident’s association once their committee has been constituted
b. Retain the funds in the investment (Capex) account
i. To allocate the monies as it was agreed to with Curro i.e. capital expenditure upgrades to the common areas along Rietfontein Road. The funds will not be allocated for any other reason e.g. payment of legacy debt which predates the establishment of RWRA, other community initiatives, operational costs, etc.
ii. Pay any outstanding taxes (estimated to be approx. R42 000 excluding any other payments required by SARS)
iii. We will enter discussions with the new committee to define a way forward whereby we could potentially reclaim the amounts paid to SARS
4. It should be noted that discussions are ongoing with Curro and RWRA and we shall work with the new committee to ensure that the best possible deal is obtained for the community.
5. All our communication with relevant parties will be published from time-to-time on www.rivoniawoods.co.za
For RWRA
B. Pitso
Chairperson
