Breakdown of DVC Annual Dues

[DVC Mike]

Breakdown of 2015 DVC Annual Dues

http://i235.*************************************BuyDVC/Dues/BreakdownOfAnnualDues.png

I'm closing this thread, as this information has been incorporated into:

• The DVC Annual Dues Information Thread

2015 ANNUAL DUES BREAKDOWN

Annual Dues consist of the operating cost of the resort plus the capital reserves budget and estimated Ad Valorem (property) taxes.

http://i235.*************************************BuyDVC/Dues/2015AnnualDuesBreakdown.png

REVENUE COMPONENTS

Per Point:
http://i235.*************************************BuyDVC/Dues/2015RevenueComp.png

Amount in US Dollars:
http://i235.*************************************BuyDVC/Dues/2015RevenueCompUSD_1.png

Refer to the description of revenue components below.

COST COMPONENTS

Per Point:
http://i235.*************************************BuyDVC/Dues/2015CostComp.png

Amount in US Dollars:
http://i235.*************************************BuyDVC/Dues/2015CostCompUSD_1.png

Refer to the description of cost components below.

REPLACEMENT FUND COMPONENTS

The annual budget for Capital Reserves covers funds set aside for the repair or replacement of major items pertaining to the Units and Common Elements with a useful life of greater than one year - such as interior refurbishment, roofing, painting, paving, common area renovation and the like.

Per Point:
http://i235.*************************************BuyDVC/Dues/2015Capital.png

Amount in USD:
http://i235.*************************************BuyDVC/Dues/2015CapitalUSD.png

​

DESCRIPTION OF REVENUE COMPONENTS

• Interest Income - Taxes and Operating - Interest earned on (i) ad valorem tax deposits held in escrow and (ii) operating budget deposits invested until expended for operating expenses.
• Member Late Fees and Interest - All delinquent Annual Dues payments are subject to a late fee of $25 per Ownership Interest, plus interest at the maximum rate permitted by law (currently 18 percent) accrued on the amount outstanding from the original due date.
• Breakage Income - As stated in the Condominium Documents, Disney Vacation Club Management Corp. (“DVCMC”) rents, during the Breakage Period, certain accommodations that have not been reserved by Members. The Association is entitled to receive, as breakage income, the proceeds of such rentals not to exceed 2.5 percent of the aggregate of the Condominium Operating Budget (total operating expenses less the sum of interest income and Member late fees and interest) and Capital Reserve Budget in each calendar year.
• Condo Comm Facilities - The Common Elements of the Vacation Ownership Condominium include parking garages, cabanas and beach facilities that generate revenue
• Shared Area Income - Shared Area income consist of funds received from the owners of interests or parcels in the Resort that are not part of the Vacation Ownership Condominium
• Member Annual Dues Assessment – The amount assessed to Owners with an Ownership Interest in Disney’s Animal Kingdom Villas.

DESCRIPTION OF COST COMPONENTS

• Administration and Front Desk - Cost of front desk operations and resort management, including operating supplies and equipment rental. Also includes costs for operational and administrative support from the WALT DISNEY WORLD® Resort (“WDW”).
• Animal Programs - Cost of the care of the animal collection on the Disney’s Animal Kingdom Lodge savanna including food, medical and husbandry. Also includes the cost of the savanna guides who share cultural and conservation information.
• Annual Audit - Fee for the independent audit of the Association’s financial statements as required by state law.
• Condominium Common Expense - The Condominium Common Expenses are the expenses incurred by the Association in operating, maintaining and managing the Condominium as a whole and such expenses are allocated between the Hotel Units and the Vacation Homes
• DVC Reservation Component - Fee paid to Buena Vista Trading Company (BVTC) for providing the exchange component of the Club central reservation system.
• Fees to the Division - Annual fee of $2 per Vacation Home per week assessed by the State of Florida for regulation of the timeshare industry in Florida.
• Housekeeping - Cost of cleaning Vacation Homes and public areas and replacement of disposable amenities in Vacation Homes. Also includes the purchase, replacement and cleaning of linens and towels.
• Income Taxes - Federal income taxes. Timeshare condominium associations may not claim non-profit status for federal income tax purposes under current regulations.
• Insurance - Cost of insurance premiums for property coverage, general liability, workers’ compensation, crime and Director’s and Officer’s liability.
• Legal - Cost of legal counsel regarding Association business.
• Maintenance - Cost of interior and exterior maintenance and repairs not paid for out of replacement reserves. Also includes landscaping, pest control and fire alarm monitoring.
• Management Fee - Fee paid to DVCMC for providing management services to the Association according to the Property Management Agreement. The fee is equal to 12 percent of the total Operating Budget (total operating expenses less the sum of interest income, Member late fees and interest, and breakage income) and Capital Reserve Budget exclusive of transportation fees and the management fee.
• Member Activities - Cost of recreation operations, certain Member activities and events at the Resort. Cost of quarterly Member newsletter, annual Association meetings and printing and postage for Association legal mailings.
• Sales Tax on Support Fac. - State sales tax paid on Condominium's share of costs incurred in connection with the operation or maintenance of the Support Facilities
• Security - Cost of guard coverage at the Resort.
• Transportation - Cost of WDW transportation provided to the Resort.
• Utilities - Cost of electricity, gas, water, sewer, solid waste disposal, cable television and telephone service at the Resort.
• Transient Occupancy Tax - Tax on timeshare occupancy
• Resort Access Fee - Fee paid to Ko Olina Club, LLC for providing to Members certain rights of access to and benefits associated with certain Ko Olina Resort entertainment facilities and services
• General Excise Tax - State tax that is a privilege tax imposed on business activity
• Hotel Condominium Assessment - The assessment billed to the Vacation Ownership Condominium Association by the Ali`i Nui Hotel Condominium Association, Inc. for the Vacation Ownership Condominium Association’s share of the common expenses of the Aulani, A Disney Resort & Spa, Ko Olina, Hawai`i Condominium
  Shared Area Expenses

http://i235.************************************************************* DVC Mike - *******.com

​

 

[OKW Lover]

Nice compilations Mike. Can you make these available for download someplace? I'd like to do some "slicing and dicing" with some of the data.

 

[RAD]

I wonder why BWV's administration/front desk charges are as high as they are, since it's a shared front desk with BWI?

 

[disneynutz]

Great job Mike.
Any chance that you could add a grid listing the dollars per category with a grand total column? It would be interesting to see how much we pay and how much DVC collects by line item. A grand total showing how much we pay across all resorts and a grand total of how much we pay for housekeeping across all resorts would be interesting.

Thanks

Bill

 

[DVC Mike]

Great job Mike.
Any chance that you could add a grid listing the dollars per category with a grand total column? It would be interesting to see how much we pay and how much DVC collects by line item. A grand total showing how much we pay across all resorts and a grand total of how much we pay for housekeeping across all resorts would be interesting.

Thanks

Bill

@disneynutz - Done, bill.

PVB amounts are from the original POS and are based on just 156 units being declared.

 

[disneynutz]

@disneynutz - Done, bill.

I have to dig up the PVB amounts, so no grand total column.

Excellent, now if we can get you to post your photos in a Disney/DVC photo album I will be a happy camper!

Bill

 

[ArtieMcD]

The YoY numbers are a bit misleading though. Bay Lake's 2015 increase is only 3.54% when you factor in the extra .0929/point in dues members paid if 2014 over the published due amounts to true up the property tax numbers. BLT's 2014 dues ended up being 4.8775 once the final bills came out.

 

[DVC Mike]

I'm closing this thread, as this information has been incorporated into:

• The DVC Annual Dues Information Thread