BWV Finances

[foofoo]

I'm considering purchasing BWV through resale. Has anyone read BWV's finances recently? Any thoughts on DVC's operating budget surplus/deficit for the property?
Thanks

 

[jekjones1558]

Oh my! We added on at BWV in May and are waiting for ROFR for another BWV add-on now. It's good that others worry about these things because I surely haven't been doing so!

 

[Richyams]

Dean will take this one.

 

[CarolMN]

I assume you are asking about the annual dues. We bought BWV in 1999. The annual dues have gone up or down about the same percentage as all of the other DVC resorts. Last year dues (for all the resorts) went up more than in the past, but it appeared that was due mostly to insurance - both health insurance for the workers and IIRC, also the P&C insurance. Those items are a concern pretty much everywhere.

Since DVC can only charge us for actual operating costs, this isn't a subject that gives me much concern. It's in Disney's best interest, as well as in ours, for operating costs to remain low. HTH answer your question. FWIW, I am expecting a small increase in next year's dues - a few cents per point.

 

[foofoo]

Actually, I'm not talking about annual dues. Each year you should receive a summary from Disney of the operating expenses, reserve, budget deficit/surplus, etc. Has anyone read this?

 

[CarolMN]

I guess I don't understand your question, then, sorry,

We members do get something that seems to be what you describe, but it comes with (or very nearly the same time as) the statement telling us what next year's dues will be. It seems to me that all the things you mentioned are part of the calculations for annual dues and that is why I thought you were referring to annual dues.

Even though this response won't help you, it wil bump the question to the top and perhaps someone else can help.

 

[JimC]

I am not a BWV owner. But all owners receive, in mid to late November, an annual budget that estimates the operating expenses, real estate taxes and capital reserves for the upcoming year. Each line item is explained, but there is little detail of the sub accounts.

In mid to late December, each owner receives a statement for their upcoming annual dues and there is a reconciliation between estimated property taxes and actual property taxes for the year just ending.

The developer, I believe in all cases, guarantees the maximum operating expenses charged to the members (ie any aggregate overage is paid by DVD). Any excess assessments (money left over) in operating expenses are transferred to capital reserves.

DVD does all of the voting so it really is a matter of our trusting Disney.

 

[PamOKW]

Yes, we do receive a broken out budget that justifies our dues. I'm not a member at BWV so I do not receive their info. However, since Disney is running the resort they have a pretty good estimate of what the expenses will be for capital improvements and the timeframe when they are necessary. To date, they have done an excellent job of planning at OKW and I suspect the same is true at all the resorts. The chances of getting hit with special assesments is slim.

 

[foofoo]

Thanks for the input. It's all a little confusing.