DVC 2005 Budgets For All Resorts - Complete.

[gilld]

Does anyone yet have the annual charge per point for BCV?

Thanks

 

[JimC]

Originally posted by gilld
Does anyone yet have the annual charge per point for BCV?

Thanks

4.2694

 

[JimC]

Originally posted by PKS44
okay as I said I have not really thought about it...but I have now --I had to go back and search for last year's thread (actually earlier this year) and see how the calculations all worked out...and it actually appears that this year the YC/BC/BCV are being charge MORE (about $67,000 more) per year for transport than the BWV/BWI---this is based on the assumption that the BCV is 19% of the north side of Crescent Lake and the BWV is 58% of the south side...thus solving for the total charge for each side of the Lake you see that $325404 is about 19% of $1,712,652...and on the other side $954,093 is about 58% of $1,644,987....but that still does not seem right to my way of thinking....because as we also showed last year the YC/BC/BCV has alot more people than the BWV--ALOT MORE---these numbers reflect only a 4% increase in charges wheras there are 66% more people! Yes the YC/BC/BCV provides transport to 1497 guest room equivalents compared to 900 guest room equivalents at the BWV/BWI---so if the costs are being split this way it is simply that the BWI/BWV guests are subsidizing the costs for the YC/BC/BCV...or the YC/BC/BCV guests are getting much less transportation than the BWI/BWV guests and the savings are passed along--yeah-right....

I believe I will be calling my contact at DVC finance tomorrow---they were very nice to me on my visit last August- but that does not excuse or explain this on going discrepancy....

Paul

On our last visit the Swan and Dolphin resorts were paired with BWV. Does that affect your analysis?

 

[PKS44]

The Swan/Dolphin thing is irrelevant really....The yearly amount of money that Disney transportation charges to the YC/BC/BCV is nearly identical to the amount they charge the BWI/BWV--The Yacht Club Beach Club and Beach Club Villas are a huge resort--the number of guests staying there is much bigger compared to the Boardwalk resort...we are talking more than twice the number...so it just does not make sense to me that Boardwalk guests as a whole are charged essentially the exact same amount of money for transportation as the Yacht and Beach club guests...there is no way that the Boardwalk guests use the same amount of transportation as more than twice their number...

Either the number of guests matter or they don't...they can't have it both ways...if numbers do not matter then they should not be charging BWV 58% of the costs of the Boardwalk budget...it should be 50/50-if they want to go on charging the BWV portion according to a guestimate based on number of guests than they need to charge each resort the SAME way. The way it is now the BWV timeshare owners are essentially USED to pay for the hotel guests' transportation at the yacht and Beach club hotels--our dues help keep the costs for the Yacht and Beach club down...and that is not right.


Paul

 

[Laurabearz]

And I for one and so happy it was DIScovered. Thanks again

 

[RobDoc]

HH 2005 estimated dues = $4.0356

<b>HH</b>
0) Name of the DVC Resort (OKW, BCV, etc.) = HH
1) Total Number of Homes = 102

<b>Two entries for each line below: Total$ and $/Point</b>
For example: 2) Interest Income = 2,692,394 0.5507

2) Interest Income = 9639/ 0.0070
3) Member Late Fees = 24877/ 0.0182
4) Breakage Income = 132674/ 0.0969
5) Dues Assessment = 4291912/ 3.1351
6) Total Revenues = 4459102/ $3.2573

7) Admin & Front Desk = 969358/0.7081
8) Annual Audit = 10716/ 0.0078
9) DVC Reservation Component = 8069/ 0.0623
10) Fees to Division = 85343/ 0.0623
11) Housekeeping = 1007792/ 0.7362
12) Income Taxes = 27877/ 0.0204
13) Insurance = 122437/ 0.0894
14) Legal = 1000/ 0.0007
15) Maintenance = 797409/ 0.5825
16) Management Fee = 554386/ 0.4050
17) Member Activities = 406590/ 0.2970
18) Sales Tax on Support Facilities = n/a
19) Security = n/a
20) Transportation = n/a
21) Utilities = 468124/ 0.3420
22) Total Expenses = 4459102 / $3.2573

 

[TroyWDW]

Doc, could you double-check the numbers below for HH. I think there might be a few typos.

<<7) Admin & Front Desk = 9693585/0.7081>>
I'm guessing it should be: 969,358 / 0.7081

<<9) DVC Reservation Component = 85343/ 0.0623>>
I'm guessing it should be: 8,070 / 0.0059

<<10) Fees to Division = 85343/ 0.0623>>
I think these are both correct, but I just want to make sure.

Thanks for posting the HH numbers

Troy

 

[TroyWDW]

Doc was kind enough to send me the HH numbers with the typos corrected. Thanks Doc

I've added the HH data to the table that is in the very first message of this thread. Now all we need is the Vero Beach data.

Can a VB owner help us out?

Troy

 

[mjfox]

I noticed that for the total cost per point is $1.26 lower than the DVC is charging us for the maintance fees. (This is an example for BCV)

The total costs = $3.0041 / point
DVC maint fees = $4.26 / point

Where does the extra money go? ($1.26 / point)

 

[Cap]

I've added the HH data to the table that is in the very first message of this thread. Now all we need is the Vero Beach data.

Can a VB owner help us out?

Troy

Troy,

I think VB numbers are on post #20 of this thread. Both build-out (which won't happen) and subsidized numbers are there.

 

[RobDoc]

I noticed that for the total cost per point is $1.26 lower than the DVC is charging us for the maintance fees. (This is an example for BCV)

The total costs = $3.0041 / point
DVC maint fees = $4.26 / point

Where does the extra money go? ($1.26 / point)

The additional charges are for the property taxes and Capital Reserve. Property taxes are estimated and may make the actual dues a little higher or lower (this difference will be applied to the following years dues assessment and has usually resulted in lowering the dues).

 

[Cap]

Does anyone have info on why the HH "Fees to Division" are an order of magnitude higher per point than for the other resorts?

 

[TroyWDW]

Troy,

I think VB numbers are on post #20 of this thread. Both build-out (which won't happen) and subsidized numbers are there.

Cap,

Thanks for responding. Unfortunately, only half of the data was provided in post #20. In post #23 you'll see that I ask MMcCarthy to provide the other half of the VB data.

We still need a VB owner to provide the 2005 Operating Budget info. Hopefully, someone will be kind enough to provide the information.

Troy

 

[Cap]

Troy,

OK. Sorry, I already tossed my notice of the detailed numbers.

 

[RobDoc]

Does anyone have info on why the HH "Fees to Division" are an order of magnitude higher per point than for the other resorts?

HH had no "Fees to Division" category, but does have "Association Dues/Fees". These fees cover payments to master associations at HH that provide security, road maintenance, landscaping and other services for the Palmetto Dunes Resort and Shelter Cove planned developments. The resort is a member of both of those associations- we drive thru Shelter Cove to reach the resort and Palmetto Dunes is where the Beach House is located.

There was also no "Security" category at HH because those expenses are covered in "Association Dues/Fees".

HH (and I suspect VB) have a slightly different dues straucture than the onsite resorts where there are some local costs to outside associations and no costs for other typical WDW expenses (like bus/boat transportation to Theme/Water Parks and DD).

 

[PamOKW]

I bought into Vero Beach this year. I am confused about the developer susidy and guarantee for owners who purchased on or after 1/1/96. the way that I am reading it, the project is still not built fully. I have read that it probably will never be completed. what does that mean as far as the dues goes? I just am having a hard time understanding this.

Basically, the original contracts were worded that the budget would be based on the expected total buildout of 277 units. The total actual budget is divided based on the points represented by 277 units. The difference between 277 and 175 is "eaten" by DVD. Disney caugh on to this inadvertent loophole and closed it in future contracts. There was an end-date to this guaranteed 277 unit basis. (I think it was the 2000 budget). You are correct that current plans do not allow for the resort to ever be built out to 277 (they've sold some of the land).

 

[lisareniff]

Very Cool. Thank you.

 

[TroyWDW]

The table is now complete with budget numbers for all of the DVC Resorts. Thanks to everyone for helping complete this project. :thewave:

Troy

 

[JimC]

Thanks Troy for your good efforts!