By Jan Ek
Financial Report:
We have completed November 2016 well within our operating and capital budget.
Bowling:
Lakeview Lanes recently started a new bowling league. The league bowls Wednesday mornings and has twelve teams of four persons per team. The new league will produce approximately $11,000 of unbudgeted income.
Lakeview Lanes will host the annual New Year’s Eve party on December 31 starting at 8pm. There are still a few openings for bowling, but there are plenty of openings for anyone just wanting to enjoy the party. The cost is only $20. Please call Lakeview Lanes for more information.
Cardholder Services:
Payments on past due assessments decreased noticeably in November with the rate being 9.2% of the past due balance. While overall accounts receivables increased by 3% in November this increase is exclusive to current assessments with all past due categories staying flat or reducing. October assessments went 30 days past due at just a 3.7% rate while September assessments went 60 days past due at a reduced 2.4% rate. Payments from our third party collections firm also increased significantly in November with year to date payments totaling $202,979.
Payments made by Cardholders through the online RCSC Web Portal in November totaled $75,637. Year to date web portal payments total $898,777. During this time over 3,400 property owners have used the web portal to make payments.
In October, property transfer related balances increased by 6% and lender owned related balances markedly increased by 43% in November. Outstanding balances related to property transfers represent approximately 56% of all receivables due and 55% of past due balances.
Trustee sale notices on Sun City AZ properties increased marginally to 46 properties at the end of November. The number of properties owned by lending institutions remained unchanged this month at 17 properties.
Preservation and Improvement Fees collected in November were $658,500, which is $217,500 over the amount budgeted. Year to date PIF fees are $7,422,700 which is $2,533,200, or 52% 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:
This month, RCSC completed three open enrollment meetings to explain 2017 employee benefit plans and to allow employees to make changes in coverage for themselves and their family members. Most of the plans remained the same, however, we switched to a new dental plan and now offer coverage through Delta Dental.
The IRS increased the amount that an individual can contribute to a Healthcare Spending Account for the 2017 plan year from $2,550 to $2,600. RCSC’s plan defaults to the allowable amount enhancing tax savings benefits for employees.
The U.S. Citizenship & Immigration Services published a revised version of Form I-9, (Employment Eligibility Verification for right to work in the U.S.). By January 22, 2017, all employers must use only the new version. H.R. staff completed an online training session and implemented the use of the new form this week.
Member Services:
There are still plenty of tickets available for the individual shows. Beginning January 3, any remaining tickets will become available to non-RCSC Cardholders. Be sure to get your tickets now if you want to see the shows.
The annual Holiday Celebration was Friday, December 9. There were lots of winners! Duck race 1st place winners of the two races won $404; 2nd place won $243 and 3rd place won $162. The Hole-in-One winner won the all-time high amount of $205. Fifty pies were given away at the Pie Walk. One lucky winner went home with a Christmas tree decorated with $580 cash. Santa welcomed everyone for a photo opportunity. And as always, the evening concluded with the lighted boat parade on Viewpoint Lake. Thank you, Sun City AZ residents, for sharing this special event with us and for supporting the Sun City Foundation.
On Tuesday, December 13 at Sundial Auditorium, approximately 1200 RCSC Cardholders and their guests came out to enjoy the Holiday Extravaganza concert performed by the Four Preps. What a lovely night! The Four Preps sang many hits from their 50 years in the music business, as well as a beautiful selection of Christmas songs that put us all in the festive holiday spirit!
Be sure to join us on Wednesday, January 11 at Sundial Auditorium at 7pm as we kick off our concert series with Journey Unauthorized, a tribute to the band Journey. The following Wednesday, January 18, also at Sundial is “Discover Sun City AZ.” Come out and see all that Sun City AZ has to offer its residents. Two sessions are offered: 9am-11am and 6pm-8pm.
We will end the month of January with a tribute to the Righteous Brothers on Wednesday, January 25. Tickets are still available at the Clubs and Activities Office at Lakeview Recreation Center.
General:
The RCSC is pleased to announce the recent launch of our newly designed website this past weekend which now gives Sun City AZ one uniform presence on the internet. Please visit www.suncityaz.org and let us know what you think!
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!