by Jan Ek
The Recreation Centers of Sun City, Inc. (RCSC) has ended November 2018 within its operating and capital budget year to date. Although maintenance and repairs has caught up some with expenditures for both 2017 and 2018 projects reflected in the Building & Infrastructure division, all divisions have operated within their net operating budgets year to date.
Everyone is welcome to attend the annual New Year’s Eve Bowling Party at Lakeview Lanes even if you are not a bowler. Stop by Lakeview Lanes or Bell Lanes and reserve your spot.
A presentation of the Specto Coaching System for bowlers was held at the Fairway Center on November 27, 2018. The purchase of the system for Lakeview Lanes is expected before year end as it can be accommodated within the total 2018 bowling budget.
Payments on past due assessments in November were 10.3% of past due balances. Overall accounts receivables decreased in November by 3% with both the “current” and “over 30” receivables categories decreasing this month. October assessments went 30 days past due at 5.8% rate and September assessments went 60 days past due at a 3.1% rate.
Payments from our third-party collections firm were the highest year to date and totaled $26,740 in November. Year to date payments through our third-party collections firm total $175,146. Payments made in November by Cardholders through the online RCSC Web Portal totaled $108,430 from 249 property owners. Year to date web portal payments total $1,291,212 from 2,805 property owners.
In November, property transfer balances decreased by 4% and lender related balances did not increase for the first time in 3 months. Outstanding balances related to property transfers represent 54% of all receivables and 55% of past due balances. At the end of November, trustee sale notices on Sun City AZ properties ended at 46 and properties owned by lending institutions remained at three.
In managing the 401(k) plan, there are plan documents and notices that we must provide to each plan participant prior to year end. We recently provided the Summary Annual Report (SAR) which is obtained from information found on the annual Department of Labor/IRS Form 5500 Annual Report that we file each year.
We also distributed the Plan’s Qualified Default Investment Option (PDIA) to all active participants, former employees with a balance, and any other beneficiaries still entitled to receive benefits from the plan. Recently, we arranged an independent review of the employees’ 401(k) Plan focusing on fund performance and the health of the plan. While our funds are reviewed annually with our investment provider, we believe a periodic independent review provides further due diligence. We are now preparing for the annual audit of the 401(k) Plan which is performed by an independent auditor after the close of the year and prior to filing the Form 5500 with the DOL/IRS.
Effective January 1, 2019, Arizona’s Minimum Wage will increase to $11.00 per hour from the current $10.50 per hour. We will do an across the board increase for those employees whose pay rate is below the new minimum.
A record number of Season Tickets were sold during the month of November for the 2019 Sundial ticketed shows. Individual show tickets that went on sale December 3 for RCSC Cardholders were also record numbers.
On December 11, we hosted our annual Christmas Spectacular at the Sundial Auditorium, and it was just that…spectacular! It was standing room only as we were treated to incredible vocals and holiday songs.
The Annual Holiday Celebration was held on December 14 at the Lakeview Center organized and hosted by the RCSC management team. There were two duck races, the hole-in-one contest, the pie-walk and one lucky couple took home a Christmas tree filled with cash! And of course, there was the lighted boat parade that lit up the lake with its pageantry. Proceeds from this event and all the year’s fund raising efforts of the RCSC management team go to benefit the Sun City Foundation.
We kick off the ticketed concert series on January 9 at Sundial with a Dean Martin and Jerry Lewis tribute show. Check ticket availability with the Clubs and Activities office at the Lakeview Recreation Center.
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!