by Jan Ek
Financial Report
RCSC has ended the first quarter within its operating and capital budget year to date. Budget deficit in utility expenses has increased to $39k year to date. Each division has operated within its overall operating budget as of March 31, 2018 excluding Building & Infrastructure, which is expected to be back within its operating budget next quarter as the variance is caused by a timing issue between actual income and budgeted income.
Bowling
The 30th Annual Sun City Open Senior Bowling Tournament will begin April 28th and will run for two weekends. The tournament has been filled to its maximum (64 entries).
Most summer leagues will begin the second week of May followed by the monthly summer no-tap tournaments which are held on the last Sunday of each month until September 2018. All bowlers are welcome whether USBC certified or not.
As fall leagues are nearing the end of their season, the bowling centers are preparing contracts for the 2018/2019 season. League contracts are created for the purpose of guaranteeing league pricing, start times and number of lanes used. The contracts also notify leagues of all bowling and RCSC corporate policies and procedures.
Cardholder Services
Payments on past due assessments in March were 11.2% of past due balances. Overall accounts receivables increased in March by 3.6%. The increase in current assessments in February flowed into 30 Day past due balances in March. February assessments went 30 days past due at a rate of 5.3%. January assessments went 60 days past due at a 2.5% rate.
Payments from our third-party collections firm dipped in March totaling $11,823 but continued to be 42% over the 2017 year to date amount. Payments made by Cardholders through the online RCSC Web Portal were at their highest level in March and totaled $156,588 from 346 property owners. Year to date web portal payments total $391,540 from 867 property owners.
In March, property transfer balances decreased by 2.4% and lender related balances decreased by 1.9% as properties turn over. Outstanding balances related to property transfers represent 51% of all receivables and 55% of past due balances. At the end of March, trustee sale notices on Sun City AZ properties ended at 42 and properties owned by lending institutions at 19.
Preservation and Improvement Fees collected in March were $802,710 which is $260,210 over the amount budgeted. Year to date PIF fees are $1,950,210 which is $602,710, or 45%, over budget for the year. The year to date total is down 6% from 2017. 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
One of the statutory benefits RCSC is required to pay into is AZ Unemployment Taxes which are filed and paid quarterly. When the company’s account was analyzed this year, it was determined that a voluntary contribution up front would reduce RCSC’s tax rate and would be profitable for the corporation. We applied for the reduction and paid a voluntary contribution of $5,574. As a result, RCSC’s unemployment tax rate went from 1.54% to .94% with a net savings of $12,696.
In July 2017, CopperPoint became RCSC’s provider of workers compensation insurance to cover employees who are injured on the job or develop a work related illness. We have been working with their Loss Prevention Specialist and find that CopperPoint has a complete library of safety training materials to be utilized in RCSC’s safety training program. In addition, through them we now have access to DuPont’s video series of safety training. These videos can be viewed online by our personnel and provide a mechanism for testing at the conclusion, making these an excellent tool for us. We continue to work on providing a safe environment not only for employees, but for all who utilize the facilities.
Human Resources has scheduled voluntary CPR/AED and First Aid training classes for RCSC employees in April & May. Participants receive a two year certification card upon completion. It was two years ago that RCSC installed AEDs in the facilities and original training began. To maintain certification, those who trained early will have to renew with the scheduled classes or in this year’s fall classes.
Member Services
The month of April began with our first event at 7am on Easter Sunday with our annual sunrise service hosted by United Church of Sun City. It was a beautiful service with approximately 650 people in attendance. That evening, we welcomed to the Sun Bowl stage Come Back Buddy for a night of dancing under the stars.
On Sunday, April 8 RCSC Cardholders and their escorted guests were entertained by Flipside 45. The following Sunday, back by popular demand, Mogollon took the stage and ended the evening with two spectacular encores.
Sunday, April 22, we welcomed back to Sun Bowl after four years Cold Shot and the Hurricane Horns. A nice twist of blues, jazz and classic hits.
The month will end with The Walkens with their first performance ever in Sun City AZ. We look forward to this performance.
The Sun Bowl Spring Series will end on Sunday, May 6 at 7pm as Chad Freeman & Redline closes the series.
Look for the upcoming summer events in the SunViews newsletter.
General
For those who may not be aware, the monthly management reports are available on our website www.suncityaz.org under the RCSC 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!
