by Jan Ek
Financial Report:
Since there is no monthly Board meeting in the month of July, I will include the Treasurer’s report information in my monthly report. The balance of unrestricted funds as of June 30, 2016 was $11,420,743 which includes a $2.5M cash reserve. Restricted funds include the Preservation and Improvement Fund (PIF) and the Capital Reserve Fund. As of June 30, 2016, PIF had a balance of $7,372,883 plus $764,500 collected in June that was transferred into the PIF account the first part of July 2016. The Capital Reserve Fund had a balance of $5,000,044 as of June month end.
We have completed our second quarter well within our operating and capital budget year-to-date. Matter of fact, every division has a net operating positive variance from budget.
Bowling:
Both bowling centers will be installing lane bumpers. Two lanes will be installed at each center. The lane bumpers will make the bowling experience more enjoyable for young children because the bumper will not allow the bowling ball to fall into the gutter. The cost of the project is $6,000 and should be completed by late August.
Bell Lanes will be closing August 22-28 for installation of the bowling lanes underlayment. No bowling leagues will be affected by the closure. The current underlayment has too much flex which is causing some lane panels to crack. The cost of the project is $25,000.
Cardholder Services:
Payments on past due assessments increased in June and were the highest level so far this year. Overall accounts receivables increased by just under 1% in June and was most affected by the increase in Over 60 day balances. This reflects the increased Over 30 day balances in May continuing to age to 60 days past due. May assessments went 30 days past due at a 4.8% rate while April assessments went 60 days past due at a 2.6% rate. Payments from our third party collections firm in June trailed the last two months and year to date payments total $127,950.
In June, property transfer related balances increased by almost 6% and lender owned related balances decreased by 25%. This was the fifth month in a row lender owned balances have decreased. Outstanding balances related to property transfers represent approximately 56% of all receivables due and 54% of past due balances.
Payments made by Cardholders through the online RCSC Web Portal in May totaled $81,542. Year to date web portal payments total $515,114, which are up 38% YTD compared with 2015. The improvements to the web portal payment process implemented in June 2015 have positively impacted the use of this payment process.
Trustee sale notices on Sun City properties decreased to 39 properties at the end of June. The number of properties owned by lending institutions decreased again this month to 19 properties.
Preservation and Improvement Fees collected in June were $764,500, which is $260,500, or 52%, over the amount budgeted. Year to date PIF fees are $4,357,600 which is $1,365,100, or 46%, over budget for the year. The year to date total is up 21% from 2015. 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:
Employee voluntary CPR/AED/and First Aid training classes for the month of August have been scheduled and distributed to all employees. The schedule is also posted in all work sites on employee bulletin boards. Four classes are scheduled and alternate between morning and afternoon classes and include a weekend class.
We are in the process of updating forms and other employee notices to comply with changes in labor laws such as Wage & Hour, Family Medical Leave and others as they occur.
Recently, forms and procedures required for reporting employee on-the-job illnesses and injuries have been updated. The new forms require an immediate on the spot inspection of the work area and documentation of any comments provided by witnesses. The information will assist in any forthcoming internal accident investigations. RCSC is proactive in managing the care of employees injured on the job as well as cost control.
Member Services:
The full 2017 line-up was released this month. It is posted on our website and is be available at the Lakeview Recreation Center in the Clubs Office. Season tickets will be available to RCSC Cardholders only and just during the month of November 2016. Individual tickets will be available in December 2016 to RCSC Cardholders only. Beginning January 2017 remaining tickets will be available on a first come, first served basis to RCSC Cardholders and non-Cardholders.
The 38th annual “Ring the Bell” ceremony was held at Bell Recreation Center on July 4. Each year the crowd gets bigger. Lunch was served at 11am and all 600 hotdogs were sold. Proceeds from this event go to this year’s RCSC Management Team’s charity of choice, the Sun City Foundation. A great time was had by all!
Our last concert of the summer was Wednesday, July 20 at the Sundial Auditorium. The four additional screens in the Auditorium makes watching the show so much more enjoyable. The “Cover-Ups” entertained us continually for 90 minutes with hit after hit, while the audience sang and danced to every song.
Be sure to join us in August at the Mountain View Pool for our annual Dive-In Movie and Ice Cream Social. The movie will begin at dusk and the ice cream will be served at 6pm. This is a free event for RCSC Cardholders and their escorted guests only.
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!