Embed Size (px)
DESCRIPTION
Sharon Roddan Presentation at Oct. 2014 ACC Meeting
Citation preview
ACC MEETING
OCTOBER 20. 2014
WHY ARE OUR ASSESSMENTS SO HIGH?
WHY ARE OUR ASSESSMENTS SO HIGH?
GRF share pmpm $176.69 $223.88
UNITED* share
pmpm $189.39 $329.08 $366 > $553
THIRD share
pmpm $198.33 $383.63 $375 > $608
TOTAL Fifty
pmpm $ 661.62 $1,687.73 $838 > $1912
2002 2014
WHY ARE OUR ASSESSMENTS SO HIGH?
• TOTAL ASSESSMENTS FOR ALL MUTUALS
(GRF, UNITED, THIRD AND FIFTY)
HAVE GROWN FROM:
$69 MILLION ANNUALLY (IN 2002)
WHY ARE OUR ASSESSMENTS SO HIGH?
• TOTAL ASSESSMENTS FOR ALL MUTUALS
(GRF, UNITED, THIRD AND FIFTY)
HAVE GROWN FROM:
$69 MILLION ANNUALLY (in 2002) TO
$101 MILLION ANNUALLY (in 2014)
WHY ARE OUR ASSESSMENTS SO HIGH?
• WHY?
PCM PAYROLL –
2002 2014
$26 million $50 million
(about 30%) (about 50%)
WHY ARE OUR ASSESSMENTS SO HIGH?
• WHY?
• Facilities share of costs
• MAINTENANCE AND
CONSTRUCTION PROJECTS
MAINTENANCE AND CONSTRUCTION PROJECTS
A lot of money has been spent without
Community acknowledgement or agreement
MAINTENANCE AND CONSTRUCTION PROJECTS
The $10 million loan (now cancelled) cost us
interest paid = $ 146,943 (2013)
interest paid = $ 172,064 (2014)
loan fees/exp = $ 77,212 (2013)
pre-pay penalty= $242,000
This cost us $638,219 (This is real money, out of your pocket
..for nothing)
MAINTENANCE AND CONSTRUCTION PROJECTS
The Specific Plan
(now cancelled BUT STILL PAYING ON THIS)
This cost us $1,298,937 +
(This is real money, out of your pocket
…to lose your open space)
MAINTENANCE AND CONSTRUCTION PROJECTS
GATE HOUSE 1 (completed) cost us
almost ONE MILLION DOLLARS!
(This is real money, out of your pocket)
MAINTENANCE AND CONSTRUCTION PROJECTS
GATE HOUSE 7 (completed) cost us
THREE-QUARTERS OF A MILLION DOLLARS!
(This is real money, out of your pocket)
MAINTENANCE AND CONSTRUCTION PROJECTS
THE BAR AT THE 19 HOLE (completed) cost us
TWO HUNDRED THOUSAND DOLLARS!
(This is real money, out of your pocket)
MAINTENANCE AND CONSTRUCTION PROJECTS
OTHER PROJECTS THAT THE NEW GRF BOARD HAS EITHER CANCELLED OR CONTROLLED COSTS
MAINTENANCE AND CONSTRUCTION PROJECTS
THE POOL DECK AT CLUBHOUSE #2
(Just resurfaced two years ago)
APPROPRIATED $438,000
TO RE-DO DECK AND LANDSCAPING
MAINTENANCE AND CONSTRUCTION PROJECTS
THE POOL DECK AT CLUBHOUSE #2
(Just resurfaced two years ago)
APPROPRIATED $438,000
TO RE-DO DECK AND LANDSCAPING
RESCINDED
MAINTENANCE AND CONSTRUCTION PROJECTS
THE IMPROVEMENT OF ONE HOLE OF THE GOLF COURSE
APPROPRIATED $131,000
(was whacked down from the
original bid of more than $300,000+)
MAINTENANCE AND CONSTRUCTION PROJECTS
THE IMPROVEMENT OF ONE HOLE OF THE GOLF COURSE
APPROPRIATED $131,000
THE NEW GRF BOARD SAID…
NO THANKS
MAINTENANCE AND CONSTRUCTION PROJECTS
THE CLUBHOUSE #2 RENNOVATION
(Saved from Demolition)
APPROPRIATED $6,000,000
MAINTENANCE AND CONSTRUCTION PROJECTS
THE CLUBHOUSE #2 RENNOVATION
(Saved from Demolition)
APPROPRIATED $6,000,000
Now will not exceed $4 million
MAINTENANCE AND CONSTRUCTION PROJECTS
GATE ACCESS SECURITY Original appropriation with conversion of gates
$2,468,000
MAINTENANCE AND CONSTRUCTION PROJECTS
GATE ACCESS SECURITY Original appropriation with conversion of gates
$2,468,000
Now a pilot for Gates 5 and 6Not to exceed
$362,800
MAINTENANCE AND CONSTRUCTION PROJECTS
WE ARE HAVING A PROBLEM WITH PLANNING AND PROCUREMENT
MAINTENANCE AND CONSTRUCTION PROJECTS
• Subject reports with no financial back-ups•Numbers pulled from thin air
with no fiscal back up data…• Listed as “placeholders”
which morph into actual $$$
MAINTENANCE AND CONSTRUCTION PROJECTS
THE KPMG REPORT ENTITLED…
“OPERATIONAL REVIEW OF THE GOLDEN RAIN FOUNDATON OF LAGUNA WOODS PLANNING AND PROCUREMENT”
–Sept 2013
