Ayala Soutkivale Village Homeowners Association Inc. (ASVHAT) “Cubhouse, Aquino Stes, Ayala Sou Vtge, gy. Mol 7, Bacar Cy, Cave 102 Pappas sdhaiedanedonel com "T a630 8 OTOL. CIRCULAR 018-002 TO. © AYALA SOUTHVALE RESIDENTS AND MEMBERS FROM + ASVHAT Administration DATE January 29 2018, SUBIECT —: Association Dues for 2018 and key dates o ALE Dear Residents and Members, Please read this Crcular carefully as it provides useful information about the 2018 Associaton ‘Dues and important dates to remember. Eighty Pesos per square meter 1 ‘The rate for 2018 Association Dues will be Eighty Pesos (Php0) per square meter. In 2017 it ‘was soy five Pesos (Pho 65.00) per square meter, and In 2046, It was sity Wo Pez0s (Php {62.00) per square meter. AS in the past years, our major expenditures wil be on maintenance, ‘ecuty, property management and repairs. The Assocation Dues wil also cover mandatary ape treasas prosrbed by te Deparment of Libr and Emolomert foe matanance and Sectrty person {Important dates to remember = Sttements of account for 2018 Assocation Dues wil be issued by January 31, 2088 = Due date for payment of 2018 Assocation Dues wil be February 28, 2018 ~ Toaval of a 5% early payment discount, please pay on or before February 17, 2018 VAT Exemption ‘Starting in 2088, Association Dues wil no longer be subject to value added tax (VAT). This fs pursuant to Republic Act No. 10363 (also known as the Tax Reform for Acceleration and Inclusion or TRAIN Law). Assocation Dues were previously subject to VAT of 12 percent. Lower interest and penalty for late payment ~The HLURB has issued guidelines’ setting a cep on interest and penalties, which snail ‘ot be more than 1236 per annum. Late payments for 2018 Association Dues will be subject to interest of 1% per month and no penalty. * aditstative Order No, 03, Series of 2017, doted May 19, 2017 (Guldeies), which took ‘effect on lune 2, 2017. Section 8.5 ofthe Guelines provides “Interests and penalties ma} be charged forthe non-payment of dues, fees and cantnbutions, Proved thatthe euthoity to ole sch omoun have Ben cy proved te Brows, ond Pode, theta te Some shal not exceed twelve percent (128) per annum”.= To comply with the guidelines, the Board will propose amendments to the By-Laws of the Association expressly authorizing the Board to impose interest and penalties. ~The guidelines took effect on June 3, 2017, and peor to this date the previous ees apply interest of 1% per month and penalty of 3% per month). = Rtepaate crttr wi be sued on possible ree to members wi areas before Jue 3, 2017, provided payment is made within a prescribed period, ‘Two statements of account Please expect to receive two statements of acount. ‘The fist statement wll cover only 2018 Assocation Dues. The target date to isve this 1s by January 34, 2018 ~The second statement will over arrears for 2017 Assocation Dues or earlier years, and ‘any unpatd fees and charges. The target date to issue this is by February 28, 2018. ‘Separate rates for Primera and Sonera ‘The Boord has considered proposals to adopt separate rates for Association Dues to be appled for Primera and Sonera. However, cue to time constraints, the earliest possible opportunity to apply this (if approved) would be in 2019. ‘90% Collection Efficiency for 2017 ‘512 ofthe $68 members of ASVHAI (9096) have paid ther 2017 Associaton Dues. This rate of ‘collection is good but we defnitely aim to do better. Most of the delinquent members are lot ‘owners (not current residents). However, there are stil 14 residents who have not paid their 2017 Association Dues (2 from Primera and £2 from Sonera). The Board i aiming to improve its collection efficiency to atleast 92% for the 2018 Assocation Dues, ‘Thank you very much to those who promptiy peid their 2017 Assocation Dues, we greatly ‘apprecate your support and contrition. Call to action \We appeal for your continued support. Please pay your 2018 Association Dues as soon as possible, We all have a duty and responsiblity to sare in the cost of keeping Ayala Southnale dean, green, safe and secure. If you have questions, please feel free to call our Vilage ‘Administration Offgg at (02) 396-0701, Yours yy nie. “Treasurer ‘Ayala Soutvale Vilage Homeowners Assocation Inc.