Annual Meeting

[BirdsOfPreyDave]

Sorry if there's already a thread on this. Work has been absolute heck for the past two months and I'm terribly behind on my Dis reading.

I got the DVC mailing the other day regarding the annual meeting, and looked through it in detail for the first time ever. There were a few surprises for me.

First, I can't believe how much income there is from late fees and interest. I don't have it in front of me, but it was $60K or so, if I remember correctly. Is this a sign of the times, or are there always this many members behind in their maintenance fees?

Another one that stuck out was the category that covered member mailings. Wow! About the same is spent on this as is spent on buses. I don't know about anyone else, but, as I've said before, I'd sure be willing to find things on the member web site instead of in my mailbox if it meant that dues would go down. Seeing the financial report, I know for sure I'd be willing to find info online if it meant the buses came twice as frequently. It kind of puts those glossy guides in perspective.

[wdrl]

Originally Posted by BirdsOfPreyDave

Another one that stuck out was the category that covered member mailings. Wow! About the same is spent on this as is spent on buses. I don't know about anyone else, but, as I've said before, I'd sure be willing to find things on the member web site instead of in my mailbox if it meant that dues would go down. Seeing the financial report, I know for sure I'd be willing to find info online if it meant the buses came twice as frequently. It kind of puts those glossy guides in perspective.

I agree with BirdsOfPreyDave: If given a choice, I definitely would elect to receive some notices electronically rather than receiving hard copies through the mail. For example, we just received the budget statements for BLT and AKV in the mail, and I'm sure it cost DVD at least $1 or $2 to print and mail each statement. I've turned off paper copies of many bills and statements in favor of electronic copies, and I'd so the same for DVC items. Except for the Disney Files magazine; I like seeing the pictures on good old-fashion paper.

[GoofItUp]

COmpletely agree with you about member mailings -- particularly the reservation confirmations. Send it to me via e-mail, and I'll print it when I need it.

[tjkraz]

Originally Posted by BirdsOfPreyDave

First, I can't believe how much income there is from late fees and interest. I don't have it in front of me, but it was $60K or so, if I remember correctly. Is this a sign of the times, or are there always this many members behind in their maintenance fees?

For '08 and '09 the numbers for BWV were pretty consistent--94K in 2008 and 97K in 2009. Don't have the full budget yet.

I think it would be naive to imply that the economy isn't hurting some members. But there apparently is some segment of membership which is consistently late in their payments. My guess is that the majority if it is people who simply miss the deadline (either because they consistently pay bills late or due to oversight), and get stuck with the $25 fee plus some amount of interest. And there's certainly some volume of members who run into difficulty throughout the year and accumulate fines and late fees.

Another one that stuck out was the category that covered member mailings. Wow! About the same is spent on this as is spent on buses. I don't know about anyone else, but, as I've said before, I'd sure be willing to find things on the member web site instead of in my mailbox if it meant that dues would go down. Seeing the financial report, I know for sure I'd be willing to find info online if it meant the buses came twice as frequently. It kind of puts those glossy guides in perspective.

Which category are you looking at here?

The Member Activities budget covers production and mailing of the quarterly Disney Files magazine, but reservation confirmations are not included there. The description does mention some "legal mailings", but that is largely limited to these budget notices which DVC is obligated to send us. Also included under Member Activities would be things like the Merry Mixers and operating costs for the annual condo meetings.

To the best of my knowledge, the reservation confirmations are covered under the DVC management fee. That's the blanket fee paid to the entity known as "Disney Vacation Club" for administering the entire program (taking reservations, billing dues, managing the resorts, etc.) The Management Fee is fixed at 12% of most dues categories so there really wouldn't be any savings to members when costs are cut in this area. Cost savings would benefit DVC more directly than it would members.

DVC has given several indications that on-line functionality is being enhanced. I'm sure electronic confirmations are cheaper than paper but still not free, and not all members will accept the electronic option either.

[Sandisw]

I also agree. It would be nice to have things available electronically. I prefer it that way as the paperwork gets overwhelming (not just for DVC but everything!!!). And, I get those things and put them aside so I can read at a later time and then it takes me forever to find where I put it!!!

[DebbieB]

For BWV, member activities is $792,228 vs $1,367,163 for transportation.

[ramkam]

I am curious about the transportation cost. Our home resort is VWL. It would be interesting to know how the cost is allocated between the Villas vs. the Lodge. The buses and boats were coming to the Lodge long before the the Villas were built. I also am curious about the transportation cost charged at BLT. Do members share in the cost of the monorail?