[Presented by Jim Wellman, Assistant General Manager]
Jan is on a much needed vacation so rather than not having her report at all, I am providing a summary of operations on her behalf.
As the Bowling season draws to a close, the RCSC Bowling department is beginning to sign league contracts for the Fall 2012 season. The standard bowling season length in the Bowling Industry is 35 to 36 weeks while RCSC season lengths have customarily been 32 weeks. In recent years, RCSC leagues had begun to reduce their season length to 30 and 31 weeks, resulting in less revenue. In 2011, a new pricing structure was introduced to all of the RCSC Bowling Leagues. Leagues that bowl 31 weeks or less will see a price increase of twenty five cents per bowler per week for the entire season. Leagues that bowl 32 weeks will pay the posted rate. Leagues that bowl 33 weeks or more will pay the normal posted rate for the first 32 weeks; beginning week 33 the league will only be charged for two games instead of three. The same policy will apply to summer leagues using 12 weeks as a standard season.
Bowling prices have not increased since 2008. The pricing structure was designed to prevent price increases across the board and only increase prices for leagues that choose to bowl less than 32 weeks, rewarding leagues bowling 33 weeks or more. This structure was also designed to increase lineage in order to increase income rather than increase price to increase income.
Payments made by property owners in outside collections rose to $14,687 in February with payments from 34 property owners. During February our internal collector processed payments from past due property owners totaling $72,569 and property related transfer fees totaling $154,833. The good start to the year in January extended into February as payments in all areas increased in February.
For the past 4 months the total payments received on past due balances is the highest running 4-month total in the past three years. Continuing this trend as we go into the months of March and April is crucial as these two months represent our highest billing months of the year and can have a greater impact on receivables if not paid. At the end of February, outstanding balances related to property transfers represented 57% of receivables due and 54% of past due balances.
Property trustee sale notices on Sun City properties dropped by another 10% in February and now stands at 81. There is some press that indicates that this could rise again in the coming months. The number of properties owned by lending institutions at the end of February declined slightly to 99.
The Preservation and Improvement Fees collected in February were $531,000, or 53%, over budget. Year to date PIF fees are $316,800, or 53%, over budget.
The Patient Protection and Affordable Care Act (PPACA) require that 125 Flexible Benefits Plan cover adult children up to age 27. Previously, dependent status was a requirement of coverage. As a result of this change, we were required to restate RCSC’s 125 Plan Document. The Human Resources Department has completed this process and distributed copies of the Summary Plan Description to plan participants.
Human Resources has also completed and submitted an updated census for annual discrimination testing of RCSC’s 401(k) Plan. In all previous years testing results showed our plan to be non-discriminatory and we expect the same result this year.
RCSC strives to provide an accident free workplace for employees, as well as accident free facilities for Cardholders and their guests. At our March employee safety meeting, RCSC recognized 18 “Accident Free” work locations. Employees assigned to those locations received a “Safety First” pin to wear on their I.D. badge or work clothes.
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!
