by Jan Ek
Financial Report:
We have completed May 2016 well within our operating and capital budget. Every division has operated better than budget year-to-date.
Bowling:
In August, Bell Lanes is scheduled to replace the underlayment for the bowling lanes. The current underlayment has too much flex which is causing some lane panels to crack. The cost of the project is $25,000.
Summer maintenance is being performed at both bowling centers by the RCSC bowling mechanics. Maintenance includes rebuilding major components and lubrication. The maintenance will ensure proper operation for the upcoming fall season.
Recently the United States Bowling Congress (USBC) performed inspections on all RCSC bowling lanes, approaches, foul lights and pinspotting. There were a few minor issues at each center which will be resolved before the beginning of the fall season.
Cardholder Services:
Payments on past due assessments decreased in May compared to the last 2 months. Overall accounts receivables increased by 2% in May and was most affected by the increase in Over 30 day balances. April assessments went 30 days past due at a 5.3% rate while March assessments went 60 days past due at a 1.9% rate. The latter is the lowest 60 day past due rate for assessments in the last 4 years and is particularly impactful due to March being the highest billing month of the year. Payments from our third party collections firm continued to be strong in May and year to date payments total $107,834 which impacts the overall accounts receivables positively.
In May, property transfer related balances decreased by 2.3% and lender owned related balances decreased by 11%. Outstanding balances related to property transfers represent approximately 53% of all receivables due and 52% of past due balances.
Payments made by Cardholders through the online RCSC Web Portal in May totaled $83,372. This dropped again for the second month but continues to be up significantly from 2015 monthly payments. Year to date web portal payments total $433,572.
Trustee sale notices on Sun City properties increased to 50 properties at the end of May. The number of properties owned by lending institutions decreased slightly this month to 25 properties.
Preservation and Improvement Fees collected in May were $829,700, which is $269,700 over the amount budgeted. Year to date PIF fees are $3,593,100, which is $1,104,600, or 44%, over budget for the year. The year to date total is up 24% 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:
The voluntary CPR/AED/First Aid training classes that RCSC provides to employees are well underway. In the 6 classes held so far, 57 individuals have been trained and have received certification cards. The next two classes will be held July 22 and several classes are scheduled for August.
Audit of the RCSC Employees 401(k) Plan for the calendar year 2015 is in process. This is the first audit conducted since transferring the Plan from Nationwide to Fidelity in May 2015. This audit requires incorporating information from both investment companies.
Employee hiring is an ongoing process and year to date 46 individuals have been newly hired with 30 of those being residents of Sun City AZ. RCSC recruits from surrounding areas as well. The part time positions offered are attractive to individuals living in retirement communities.
Member Services:
The Neil Diamond Tribute show originally scheduled for Wednesday, June 15, was moved to last night, June 29 due to construction delays at Sundial Auditorium. I have to say it was worth the wait. The show was fantastic, especially displayed on our four new video screens. The new screens brings the total to six large screens in the auditorium. There truly is not a bad seat in the house.
Be sure to attend the 38th annual “Ring That Bell” ceremony taking place at Bell Recreation Center social halls at 9:00am on July 4. Lunch will be served at 11am for $3, which includes a hot dog, chips and bottled water. Afterward, you can spend the afternoon dancing, playing games, winning prizes and enjoying free cake. Free bowling, billiards, shuffleboard and darts will be available at the Bell Center from 11am-2pm. Come out and help support the Sun City Foundation, the RCSC Management Team’s 2016 designated charity.
Finally, join us in July for our last concert of the summer. We present “The Cover-Ups” at the Sundial Auditorium on Wednesday, July 20 at 7:00pm. Doors open at 6:00pm. Remember to bring your RCSC photo membership card for admission. Key fobs will not be accepted.
The full 2017 line-up will be released in July 2016. Season tickets will be available to RCSC Cardholders only and only during the month of November 2016. Individual tickets will be available in December 2016 to RCSC Cardholders only. Remaining tickets will be available to both cardholders and non-cardholders beginning in January 2017.
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!