by Jan Ek
Financial Report:
We have completed October 2015 well within our operating and capital budget year-to-date. As a matter of fact, every division has a net operating positive variance from budget.
Bowling:
Bell Lanes and Lakeview Lanes recently hosted the Metro Phoenix USBC Valley of the Sun Senior Tournament. There were 28 team entries. The tournament produced approximately $2,200 of unbudgeted income. Shirley Braverman of Phoenix, who is also a member of our Columbia 300 scratch league, bowled the only 300 game of the tournament at Lakeview Lanes. This was the second 300 game that Shirley has bowled at Lakeview Lanes.
The remodel of the bowling centers is almost complete. The railings have been installed and we are currently in the process of securing the tables to the floor. Once the tables are secured, additional railings and garbage cans will be added to the space between tables.
Cardholder Services:
Payments on past due assessments dipped slightly in October and were under the monthly average for the prior 12 months by 5%. Overall past due assessments decreased in October by just under 2% with the Over 30 Days past due balances changing the most. The 30 Day past due rate assessments decreased in October and is the lowest rate for September for the last four years. Year to date payments from our third party collections firm are $79,849.
The charts below show the 30 Day Past Due Amounts and the Total Past Due Assessments for the past four years on a monthly basis for comparison.
The chart below shows the total accounts receivable balance for each month this year. The total is categorized by Assessments, Fees (Late/Interest/Lien) and PIF/Transfer with the relative percentage for each category each month.
In October property transfer related balances remained relatively unchanged and lender owned related balances decreased by over 21%. The balance flow for these two categories continues to be dynamic over time as does the number of properties. Outstanding balances related to property transfers continues to represent 52% of all receivables due and past due balances.
Payments made by Cardholders through the online RCSC Web Portal in October totaled $51,688. Year to date payments through the web portal are $592,023 and continue to represent 3.6% of total accounts receivable payments.
Trustee sale notices on Sun City properties increased to 49 properties at the end of October. The number of properties owned by lending institutions was unchanged again in October at 39 properties.
Preservation and Improvement Fees (PIF) collected in October were $496,733, which is $220,733 over the amount budgeted. Year to date PIF fees are $5,631,253 which is $2,301,253, or 69%, 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.
The Cardholder Services and Member Services offices have moved back into their updated offices on the first floor at Lakeview Center. While both areas continue to get settled in and get everything in place, we anticipate that the space will be more comfortable for Cardholders and allow us to better serve you.
Human Resources:
In early November, open enrollment meetings were held to explain the Benefits Plan provided by RCSC and made available to full time employees. The meetings were facilitated by representatives of BlueCross/BlueShield of AZ and Mutual of Omaha.
Plans available include medical, dental, life, short and long term disability, employee assistance program and an unreimbursed medical plan. The Unreimbursed medical plan is available through Section 125 of the Internal Revenue Code and RCSC’s Director of Human Resources presented that information at the benefits meetings.
The RCSC Benefits Plan is designed to acknowledge that our workforce is diverse and recognizes its diversity as it encourages each employee to design his/her own benefits plan based on individual needs. The individual plans are paid for in a diverse manner: some are 100% RCSC paid; some are cost shared; others are 100% employee paid.
The Benefits Plan runs on a January 1 through December 31 Plan Year. Annually, employees are given the opportunity to make changes in their coverages to accommodate their individual and family needs for the coming year. Open enrollment establishes the time period for allowing changes.
Member Services:
On Sunday, November 1st we welcomed to the Sun Bowl stage Randy Linder with a Creedence Clearwater Revival tribute. What an incredible show! Not only was the sound right on target, his stage presence gave us a show worth watching. We had the most crowded dance floor of the entire season and folks danced non-stop. What a treat!
Who could believe that Sunday, November 8th was the last show of the Fall Season? Rollie Stevens honored all branches of the service with a heart-felt traditional Tribute to Our Veterans. All in attendance proudly stood as the Sun City Posse posted the colors. There were various military vehicles on site, most from the 1940s – as attendees got up close and personal to appreciate all that the men, women and families that have sacrificed for our freedom. Wonderful performance…thank you, Rollie Stevens!
There are still many great seats available and we will continue to sell season tickets throughout November. Individual show tickets go on sale Tuesday, December 1st in the Clubs Office. We are now back in our original location on the lower level near the Gold entrance. Office hours are 8:30am to 4:00pm Monday thru Friday.
Be sure to join us for our DooWop Christmas Spectacular featuring the Diamond Vocal Band and the Sheer Delights. This event will take place on Tuesday, December 8 in the Sundial Auditorium. Doors open at 6pm; the show begins at 7pm. Complimentary hot apple cider and cocoa will be served.
Finally, you won’t want to miss our last event of 2015. Join us as we rejoice in the season with our annual Holiday Celebration. This fun-filled event will take place on Friday, December 11 from 3pm to 6:30pm at Lakeview Center. If you haven’t done so, be sure to get your Duck-for-a-Buck because that little guy might just win our infamous Duck Race! As has become customary we will have our fun-filled Pie Walk, our challenging Hole-in-One contest, and our exciting Money Tree, as well as entertainment, food, fire trucks to climb on and the lighted boat parade beginning at dusk. This is great fun for all ages. This event is put on each year by volunteer staff and will benefit the RCSC management team’s non-profit Sun City organization of the year…your Sun City Fire Department!
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!