Good evening Gentleman.
My report this year is rather brief but to the point.
A major point of discussion and debate this year has been with regards to the property and how best we utilise it going forward. As a starting point MacRobert Attorneys have been appointed to register the portion of the property with the flats on it into a new title deed. This effectively gives rise to us having two deeds for the property. Further to this Pretor have been appointed to manage the administration of the flats in its entirety. Once the registration of the flats is complete we should be in a position to re-apply for our rates rebate on the remainder of the property.
The Association continues to support the school financially, we relooked at the model and have implemented an annual grant to the school instead of the subsidized flats and bursary grant. The current grant is R480000.00 per annum and I hope that this can be significantly increased over the next few years.
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