by Jan Ek
Financial Report:
We have completed November 2015 well within our operating and capital budget year-to-date. And as I said last month, every division has a net operating positive variance from budget.
Bowling:
The bowling center modernization is almost complete. We are waiting for railings to be assembled and installed in between the new tables on the concourse. We recently held tournaments which included bowlers from all over the state and we were complimented on the cleanliness and roominess of the bowling centers. One Lakeview Lanes visitor commented “these are the cleanest public restrooms I have ever seen.”
The Arizona State Senior Women’s and Senior Open Tournaments were held at both RCSC Bowling Centers in November. The tournaments produced $13,000 in unbudgeted income.
New LCD televisions were installed to replace the older models. The new televisions are “smart TVs” which have a much higher resolution which allows us to use them for advertising. The televisions will also be used for televised sporting events that bowlers can view during their league play.
Cardholder Services:
Payments on past due assessments dipped again in November and were under the monthly average for the prior 12 months by 10%. Overall past due assessments increased in November by just under 2% with the Over 30 Days past due balances changing the most and directly offsetting the reduction in October. The Over 30 Day past due rate for October balances was the highest rate in almost 2 years while the Over 60 Day rate was right on average. Year to date payments from our third party collections firm are $86,452.
The charts below show the 30 Day Past Due Amounts and the Total Past Due Assessments for the past 4 years on a monthly basis for comparison.
In November property transfer related balances increased by 3% and lender owned related balances decreased again by almost 18%. The balance flow for these two categories continues to be dynamic over time as does the number of properties. Outstanding balances related to property transfers continues to represent approximately 53% of all receivables due and past due balances.
Payments made by Cardholders through the online RCSC Web Portal in November totaled $66,140. YTD payments through the web portal are $658,164 and continue to represent 3.6% of total accounts receivable payments.
Trustee sale notices on Sun City properties remained at 49 properties at the end of November. The number of properties owned by lending institutions increased slightly this month to 41 properties.
Preservation and Improvement Fees collected in November were $534,500, which is $204,500 over the amount budgeted. Year to date PIF fees are $6,165,753 which is $2,505,753, or 68%, over budget for the year. Again a reminder that we intentionally budget PIF income very conservatively to assure that we have the cash on hand for any planned project as we remain debt free.
Human Resources:
The IRS increased the amount of pre-tax dollars that employees can set aside for medical expenses from $2,500 to $2,550 for the 2016 calendar year. RCSC has amended the 125 Flexible Benefits Plan to accommodate the change and avoid future amendment costs by amending to read, “The maximum amount permitted under Code Section 125.”
We are in the final process of enrolling employee changes in the benefit plans which includes the Biometric Screenings taking place on December 16 and 17.
Member Services:
Our 2016 individual show seat tickets for the 2016 Sundial Concert Series are now on sale. Show tickets will be on sale daily up through the day of the show unless we sell out prior. Individual show tickets can be purchased in the Clubs Office on the lower level of the Lakeview Recreation Center near the gold entrance. Club Office hours are 8:30am to 4:00pm Monday through Friday. For your convenience, we will sell tickets at the Sundial box office, if still available, and will accept cash, check, Visa, MasterCard and Discover at the window.
The DooWop Christmas Spectacular, featuring the original Diamonds and the Sheer Delights, was outstanding! This performance took the full house on a walk down memory lane. We laughed, sang, reminisced, and were treated to complimentary hot apple cider and cocoa. What a beautiful way to celebrate the holiday season!
Our final event of 2015, the annual Holiday Celebration was a fabulous fun-filled event. The ever thrilling duck races had some lucky winners receiving great cash prizes along with the money tree. And if you left without a pie from the infamous pie walk, hopefully it wasn’t without giving it a try. The hole-in-one contest was more exciting than ever as the competition was fierce. We enjoyed musical entertainment, a light show, great refreshments, and the lighted boat parade which was projected on the big screen. All proceeds from this event went to benefit the RCSC management team’s Sun City charity of the year…our Sun City Fire and Medical Department!
Be sure to join us for our 2016 Sundial Concert Series. We start the season off on Wednesday, January 6 as we welcome to the stage a tribute to Bob Seger by Turn the Page. The following Sunday, January 10, we present Joni Morris as the Legendary Ladies of Country Music. Our final concert in January will be Wednesday, January 27 when we welcome the acclaimed a capella group re:Voiced.
On Wednesday, January 20, don’t miss “Discover Sun City AZ” at the Sundial Auditorium. This is a free event with two sessions, one at 9am and one at 7pm. Hope to see you there!
General:
For those who may not be aware, the monthly management reports are available on our website www.sunaz.com under the Corporate tab. Also, if you have not done so already, please sign up on the RCSC email list where you can designate topics of interest and stay in the loop with RCSC news alert emails!