A PLACE TO BE
Tuesday, March 29, 2011
The Swing Bridge for the second year in a row has cost the owners nearly a half a million dollars. The $123,000 increase from 2008 is due to the high risk insurance from one too many lawsuits.
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Total labor costs for 2010 were near 2006 levels at $792,869.
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Security expenditures were $209,673 in 2010, an increase of 3%.
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The Laundry was a $3,655 loser for 2010. This amenity has had an averaged loss of $4,732 ever since the ex-GM Larry Demalade convinced the Board into contracting with an outside source in 2007.
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The Golf Course lost a humungous $62,812 in 2010. This follows losing almost $100,000 in 2009.
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The Village Grill posted a $27,381 improvement over 2009, but take away the amount spent in 2009 to remodel 75% of the restaurant and both were enormous losers at $49,307.
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The Rental Office lost a whopping $35,611 in 2010, $119,624 in five years when one subtracts the $38,712 gift from the insurance company. What are never figured in is increase costs from renter’s above average use of Village water, sewage, and trash. This renter deficit tally grows even larger when one figures in the rarely mentioned common ground damages and lawsuits. “ROB” may be a fitting abbreviated name for the Renter Office Business our Village has contrived, a system that uses assessments from the owners who don’t rent in order to financially benefit owners who do.
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My comment on Rental Office - CLOSE IT! And either use or capitalize on the real property as was originally intended when LIV purchased it from the developer. Continuing to operate the rental service was just a concept of "well, let's see how it does the first year or so, and we can always close it down if we want". The main impetus to buying the rental operation was acquiring the real property and keeping it out of the hands of unrelated entities who might otherwise have purchased the rental operation from the developers. There is no mandate in the Covenants that rental service MUST be provided; rather, only the developer (and now LIV), has exclusive rental rights - BUT LIV IS NOT REQUIRED to enforce those rights. If an attorney is advising otherwise, get a second or third opinion!
My comment on Golf Course losses - raise green fees so golfers bear more of the operating costs. And, CONTROL EXPENSES!
My comment on Grill losses - raise prices, especially on beer and wine, so patrons bear more of the operating costs. And, CONTROL EXPENSES!
re: Total labor costs for 2010 were near 2006 levels at $792,869.
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My comment is a question - Of the $792,869, how much was for managers?
And please....what do the pools cost us? A lot of us never use the pools. Why should we pay for them? Do the pools make this village more desirable & our property more valuable? I'd say yes...Does the Golf Course and the Grill? I would say so…..yes. And yet....we never see anything on how much revenue the pools take in. What are the costs to maintain it? How much do we lose every year on the pools? Seriously Joey…..there is never a report on the pool expenses.
Raise Green fees? You must be kidding.It is one of the amenities that actually brings in revenue. If we need to do that then we need to charge for pool use and what about the tennis courts? Word has it that owners must wait to play until this group of non owners from the island play . How fair is that. If they want to play here how about a fee?
If you keep raising prices you price yourself out of business.
Based on the 2011 budget we would need to increase fees 89% at the golf course in order to break even. This is equivalent to $3.30 for a wine or beer, $1230 for an annual family membership, $23 for a non-member daily green fee, etc.
These kinds of prices for a "pitch and putt" par 3 course are not realistic. Revenue for the golf course has already been declining the last few years.
Can costs be reduced? Probably not significantly. The course is only in "fair" condition now.
Each lot owner subsidizes the golf course to the tune of $86/year. This is a small price to pay for the added benefit to my property value.
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