DVC 2005 Budgets For All Resorts - Complete.

[MMcCarthy]

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.

 

[jonesmatNY]

I just returned from the Punta Gorda area (West Coast FL.) and the local papers are reporting that the Insurance Carriers are applying to the state for 25 to 40% increase in rates due to the hurricanes. Seems as those areas not affected by the hurricane would be on the lower end of the scale, but hurricane hit areas would be at the higher end. Although nothing is finalized, I suppose it inevitable. I couldnt beleive the damage I saw. What will be the impact on the DVC Dues? How would DVC handle the huge increase if it comes after the Dues for the year are already established. I assume they are using the current insurance rates for 2005 calculations.

 

[TroyWDW]

Originally posted by MMcCarthy
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.

MMcCarthy,

Thanks for providing the VB Budget information.

There should also be the "dollars per point" information (e.g. 0.4532) for each of the cost and revenue items. Can I impose even more and ask you to provide that information also. Thanks again.

I'm not a VB owner so I just wanted to make sure I understood the data correctly. For Vero Beach there are two different budgets. One is for 175 homes and has the Developer Subsidy included and the other is for 266 homes and does not have any Developer Subsidy. As a VB owner you will be billed based upon which category you fall into. (I may be rephrasing your original question, maybe someone else can chime in.)

Troy

 

[Ksp]

Interesting topic -
Where do you find this info??

 

[POOH&PIGLET]

VWL info
1) Total Number of Homes = 136

2) Interest Income = $20,660 ($0.0105)
3) Member Late Fees = $31,278 ($0.0159)
4) Breakage Income = $175,980 ($0.0897)
5) Dues Assessment = $5.899,660 ($3.0070)
6) Total Revenues = $6,127,577 ($3.1232)

7) Admin & Front Desk = $1,020,899 ($0.5203)
8) Annual Audit = $10,716 ($0.0055)
9) DVC Reservation Component = $11,195 ($0.0057)
10) Fees to Division = $13,872 ($0.0071)
11) Housekeeping = $1,574,116 ($0.8023)
12) Income Taxes = $38,814 ($0.0198)
13) Insurance = $315,836 ($0.1610)
14) Legal = $1,000 ($0.0005)
15) Maintenance = $1,118,158 ($0.5699)
16) Management Fee = $672,094 ($0.3426)
17) Member Activities = $224,394 ($0.1144)
18) Sales Tax on Support Facilities = NOT LISTED
19) Security = $69,951 ($0.0357)
20) Transportation = $590,355 ($0.3009)
21) Utilities = $466,177 ($0.2376)
22) Total Expenses = $6,127,577 ($3.1232)

 

[POOH&PIGLET]

Originally posted by Ksp
Interesting topic -
Where do you find this info??

Its from the 2004 Notice of Annual Meeting for the board of directors and members. I received it in the mail yesterday.

 

[Ksp]

Originally posted by POOH&PIGLET
Its from the 2004 Notice of Annual Meeting for the board of directors and members. I received it in the mail yesterday.

Ah. We haven't gotten anything like that yet - I'll keep my eyes open for it.
I was wondering where in the world all the in depth info was coming from. I certainly couldn't remember seeing it in the DVC guide book

 

[TroyWDW]

Thanks Pooh&Piglet for the VWL information

Troy

 

[POOH&PIGLET]

Your welcome Troy.

Where are the BCV, VB, & HH owners?

 

[Ksp]

We own both at BCV and SSR - so far, the SSR information just arrived here in NJ yesterday -Nothing about BCV yet.

 

[Doctor P]

We own at both HH and BCV and have not received either of those statements yet, but we have received the one for OKW.

 

[mjfox]

We also own at BCV and no report yet in Virginia.

 

[AnnaS]

I received BCV today - but honestly - I have no idea what I am reading.

 

[PKS44]

It will be interesting to see the BCV transportation numbers this year--and it is interesting to see how much less per point BWV pays for transportation compared to the other DVc at WDW...given my past experiences with the bus service at BWV I guess you get what you pay for....though I have never heard much good said about the VWL buses..so who knows?


Paul

 

[TroyWDW]

Hey Paul,

Good to see you join the discussion.

Troy

 

[JimC]

BCV 2005

Please fill in the Name and Number of homes
0) Name of the DVC Resort (OKW, BCV, etc.) = BCV
1) Total Number of Homes = 208

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

2) Interest Income = 30,990 0.0102
3) Member Late Fees = 25,548 0.0084
4) Breakage Income = 266,472 0.0880
5) Dues Assessment = 8,770,779 2.8974
6) Total Revenues = 9,093,790 3.0041

7) Admin & Front Desk = 1,614,834 0.5335
8) Annual Audit = 10,716 0.0035
9) DVC Reservation Component = 17,225 0.0057
10) Fees to Division = 21,216 0.0070
11) Housekeeping = 2,473,005 0.8170
12) Income Taxes = 57,706 0.0191
13) Insurance = 463,647 0.1532
14) Legal = 1,000 0.0003
15) Maintenance = 1,584,199 0.5233
16) Management Fee = 1,078,608 0.3563
17) Member Activities = 672,375 0.2221
18) Sales Tax on Support Facilities = none
19) Security = 128,716 0.0425
20) Transportation = 325,404 0.1075
21) Utilities = 645,137 0.2131
22) Total Expenses = 9,093,790 3.0041

 

[TroyWDW]

JimC, thanks for the BCV information.

Troy

 

[TroyWDW]

I've added a table with the budget calculation of the "dollars per room" to the first message in this thread.

Troy

 

[PKS44]

Troy- (or anyone else)

I have not really thought about this in detail, but as I look at the BCV numbers I still have the same issue I saw last year...I cannot understand how transportation for BWV ends up being nearly double the cost PER POINT as BCV--it should be about the same per point...and it is not...what am I not getting here?...does this have something to do with the lack of Grand Villas or something at BCV? I just cannot wrap my brain around this...do I need to contact my friends in DVC finance again?

Paul

 

[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