We received notification yesterday that due to non-submission of Annual Returns (which we and others have been aware of), the NPO is currently non-compliant in terms of SARS rules. We have been addressing this matter and requested that our auditors Kael Consulting engage with SARS to resolve this matter, prior to submitting our Annual Financial Statements (AFS) for audit. Once we have finality on this we will announce the actual date of the long-overdue AGM.
There is a potential tax issue regarding the initial “donation” of R150 000 made by Curro Rivonia and we are also looking at the best manner in which to treat this, before allocating any funds for the Entrance Upliftment Project.
At this point there is no concern regarding funds collected and dispersed for the road closure and the liquidity of the NPO remains positive with enough cash to cover contingent liabilities.
We will keep the community posted as we go about this house keeping exercise.
On Behalf of the Board of Directors
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