REMINDER SIRA AGM November 20, 10 am – 12 pm, Scotland Island Community Hall
The Annual General Meeting of your residents’ association is on November 20. All residents are invited to attend. At the meeting, brief reports about SIRA activities over the last year will be provided, and members will elect a new committee.
The Committee needs new people to join! If you feel you can contribute to the volunteer work that the Committee undertakes each year, we strongly encourage you to nominate. Meetings are about once every six weeks.
Nominations for officers (President, Vice-Presidents (2), Secretary, Treasurer) or for ordinary committee members (5-10 people) are invited. They must be sent to the secretary at secretary@SIRA.org.au at least 7 days before the AGM (by November 13 for the AGM on November 20th 2022.) (However, if not enough nominations are received, further nominations can be accepted at the AGM.)
Nominations should be made in writing, signed by 2 members of the association and accompanied by the written consent of the candidate (which can be on the nomination form or provided separately). DOWNLOAD THE NOMINATION FORM.
Increase in water charge due to CPI
SIRAC wishes to announce that the charge for Emergency Water will increase from $5 to $6 per kL on 1 January 2023. The price change is due to CPI increases as well as additional new expenditure such as electricity and pump equipment depreciation However, booking fees will not increase, and the reduced fee for automated bookings remains at $5.
SIRA and the Emergency Water Subcommittee continually seek efficiencies to keep the water price as low as possible, and this has included the development of the automated booking system. However there have been steadily increasing costs such as the charge from Sydney Water. which has increased from $2.00 to $2.50 per kL, an increase of 25% in 5 years.
There are many other costs associated with managing the water lines. These include:
- electricity for the pump of $450 per quarter
- depreciation on the pump of $500 per month
- line clearing and maintenance of the line and equipment at $6,500 per annum
- booking software and IT of $7,000 pa
- transaction charges on invoice payments of around $2,200 pa.
The amounts paid to the Water Monitors has decreased since the introduction of the booking system, but still accounts for $12,000 pa. SIRA also needs to allow for a share of its overheads, as the water activity increases its insurance expense and the activity requires IT and accounts support.
All of this explains why SIRA purchases at $2.50 per kL and sells at $6 per kL with little or no profit.
SIRAC encourages members to read the 2022 annual report which will be available before the AGM on 20 November. With the $5 per kL rate, the Emergency Water activity made a loss for the financial year ended 30 June 2022 of around $4,000. The new rate of $6 should see a break-even result.
SIRA’s practice for many years has been to hold the water price steady until cost factors force an increase to restore profitability. As the wider economy is now experiencing higher inflation, its likely that SIRAC will be making annual adjustments to the water price in line with CPI. It is the practice of Sydney Water to adjust its price annually on 1 July every year.
We understand that price increases are not welcome news, but SIRA has endeavoured to keep prices as low as possible. In fact, if you apply the CPI to the original water prices in 2002 of $4 per kL and $10 booking fee, those charges would now be $6.62 per kL and $16.55 for the booking fee.