February 25, 2010
Febraury Newsletter
THE WOODS FEBRUARY NEWSLETTER 2010
service@woodsresort.net 802-422-3100
________________________________________________________________________________________________________________________________________________
Annual Meeting
The Woods Annual Meeting is scheduled for Saturday, May 1. Although it is still over two months away we ask that you plan to attend if possible. The Woods Condominium Documents require a majority of owners be present in person or by proxy at the Annual Meeting to elect Board Members and approve the next year’s budgets.
The Association needs owner participation to function and we encourage owners to consider being candidates for the Board. No one has come forward to fill the Board position vacated by Ed Martins in December; therefore, a total of four positions will be open this year for election to The Woods Board of Directors. Three positions will be for two year terms and one position will be for a one year term. Candidates are requested to submit a brief resume or letter of introduction detailing their objectives and qualifications for serving on the Board. Resumes received will then be copied and included with the meeting agenda and information package sent to all Woods Homeowners prior to the Annual Meeting. Please submit resumes to:
The Woods Homeowners’ Association
53 Woods Lane
Killington, VT 05751
A Director must be a Unit Owner or duly authorized agent of an Ownership Entity at all times during his or her term. Questions concerning the position and duties may be directed to any of the current Board members or Tony Hart, General Manager for The Woods.
Kohl / Madowitz Lawsuit
We are still waiting for a ruling from the Vermont Supreme Court on our appeal regarding development rights and will immediately inform all Woods Owners of any news, good or bad. Our attorney did draft a short background and history regarding the lawsuit which we mailed to all Woods Owners last May. Please call our office if you would like another copy or have any questions regarding the lawsuit.
Maintenance/Grounds
Winter decorations were taken down the week before Presidents week. With no major weather events in February we did cut the hours for the two junior grounds crew staff down to four days a week, but the weather forecast looks like snow on and off for the next 7 to 10 days so they should be back to full time. We value our crew very much, but could not justify having staff on with no work.
We have had two major plumbing leaks in Village units this past month. One unit had a frozen pipe caused by the intake air vent blowing freezing air on it. Fortunately it was a ground floor unit and all of the water from the burst pipe stayed in the boiler room. There was no water damage to that unit or any others. The second leak was in an upstairs Village unit from a crack in the faucet for the washer in the laundry area which resulted in considerable water damage to the unit below. We estimate repairs may be $4,000 to $5,000, not including loss of rental income. These events are both good examples of why owners need to be properly insured for the contents inside their units and for damage to their own units and surrounding units caused by events like these. Each unit’s mechanical systems and internal plumbing are the responsibility of the owner and damage caused by their failure is not covered through the Association’s insurance.
Although our newest truck is now five years old, thanks to careful use and regular maintenance our grounds vehicles and equipment are holding up well. We did need to replace a leaf spring in our smaller truck this past month and we have replaced the brake lines and will need to replace the windshield in the Ford Expedition we use for maintenance. The leaf springs in our larger truck were replaced a year ago.
Spa
The spa had a successful President’s week. We exceeded last year’s income by 5%. With a weather prediction of a foot of new snow this week, we expect to have a great weekend coming up.
We continue to do well with the $10 vouchers that are being put into check in packages with the rental agents and a few select inns. For those of you who do your own renting, if you would like to have vouchers, please call or email us and we can send them out or put them in your unit upon your guests’ arrival.
And don’t forget that you as homeowners get 10% off any spa treatments.
Financial Update through January of 2009
|
INCOME |
Fiscal YTD |
Budget |
Last year |
|
Operating Income (less Spa) |
$593,534.07 |
$593,184.51 |
$623,980.19 |
|
Non-operating Income (interest & dividends) |
$810.55 |
$5,175.00 |
$5,490.65 |
|
Spa Income |
$159,144.97 |
$205,935.00 |
$194,314.51 |
|
Net In-Unit Service Income |
$4,901.56 |
$5,620.00 |
$5,132.86 |
|
Total Income |
$758,391.15 |
$809,914.51 |
$828,918.21 |
|
EXPENSE |
|||
|
Spa Expense |
$180,098.35 |
$212,099.99 |
$200,562.18 |
|
Terra Median Expense |
$128,573.95 |
$147,408.08 |
$149,563.52 |
|
Maintenance/Grounds Expense |
$151,362.05 |
$155,291.50 |
$151,538.90 |
|
General & Administrative Expense |
$236,566.60 |
$252,039.05 |
$239,379.29 |
|
Non-operating Expense (legal) |
$18,735.09 |
$38,000.03 |
$48,805.36 |
|
Total Expense |
$705,506.51 |
$804,838.65 |
$789,849.25 |
|
NET INCOME |
$43,055.11 |
$5,075.86 |
$39,068.96 |
The positive variance in net income is primarily from two sources: a savings in Terra Median Expense due to lower propane cost than budgeted and a savings in legal expenses due to inactivity in the KM lawsuit. We may need all of the funds allocated for legal if we do not have a favorable ruling from the Court and we are planning on using the savings in propane to replace the $20,000 taken from common capital for the purchase and installation of the new propane tanks at the TM (which allowed us to save in propane expense). Although the Spa had a strong holiday week, we still expect to finish February almost $10,000 behind budgeted revenue for the month. If the Spa net income continues to fall below budget for the remainder of the year it will most likely cause a shortfall in this year’s Commercial Access Fee calculations which could roll over into next year’s budget causing a slight increase in the Commercial Access Fee.
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January 26, 2010
January Newsletter
THE WOODS JANUARY NEWSLETTER 2010
service@woodsresort.net 802-422-3100
________________________________________________________________________________________________________________________________________________
Annual Meeting
In accordance with our By-Laws, The Woods Homeowners Association Annual Meeting is scheduled for the first Saturday in May each year. This years meeting will be held Saturday May 1, 2010 in the Terra Median building at The Woods. We hope you plan to attend and will mark the date on your schedule. Three positions will be open for the Board of Directors. Please contact Tony Hart, Woods General Manger, or a current Board member if you are considering being a candidate.
Open Board of Directors Position
With the departure of Ed Martins from the Woods Board of Directors in December we have an open position on the Board. Our by-laws allow us to continue to function with a four member Board or to appoint a replacement to fill the position until the next scheduled election. We ask that anyone interested in filling the position for the remainder of this year please contact Tony Hart, The Woods General Manager or Richard Mandel, The Woods Board President. In general, the Board meets once per month by conference call with the General Manager to review operations, capital projects, financials, and discuss any other Woods business matters as needed and appropriate.
2010/2011 Budget
We are starting the 2010/2011 budget process for the fiscal year beginning May 1, 2010. Owner input and suggestions regarding the operation of The Woods and future capital projects is welcome. This summer we need to complete the last year of a three year project to repair the stucco and paint the siding on the Cluster units (A and D cluster units remain) and we should continue to build the reserve to replace the Village unit roofs and continue with selective replacement of Village windows and sliders. Other projects may also be suggested by the Board of Directors as the budget process moves forward. At the fall Homeowners Meeting there was considerable discussion about the need to repair and resurface some of our roads and parking areas.
Kohl / Madowitz Lawsuit
As previously reported, Oral Argument was presented to the Vermont Supreme Court in November and we are now waiting for the Courts decision regarding our interlocutory appeal. Anywhere from 4 to 6 months is the customary waiting period before a decision is issued from the court so we may have several more months before we have any news regarding the appeal. We did mail a short background and history regarding the lawsuit to all owners last May, but if do not recall reading it and would like a copy mailed or e-mailed, please call The Woods administrative office and we will send one to you.
Maintenance/Grounds
January has been uneventful with routine plowing, sanding, and shoveling walkways. We are still evaluating our refuse recycling process but the overall concept appears to have been well received by both guests and owners.
So far this winter we have had far fewer no heat / no hot water calls. We think this is a result of many owners having had routine burner cleaning and maintenance performed over the summer and hope to continue that program next year. The burner issues we have had have been in units that were not serviced over the summer. We have also had other plumbing issues but those are a result of the age of the systems in the units. Most Woods condominiums have the original boilers and hot water heaters which were installed 20 years ago and in some cases it is time to consider replacing the hot water heaters and boilers with new more energy efficient systems. We are currently soliciting proposals for replacement systems and hope to be able to get information and pricing out to everyone this spring.
Spa
Once again the local Special Olympics swim team will be practicing on Sunday mornings in our pool. The team of five qualifiers will be going to Nebraska in April to compete in the National Competition, and this is the forth year they have used our pool to train. We welcome them and wish them great success.
Friday, January 22, the local Boston TV station NECN filmed at Killington. They featured the ski area and then showcased what to do if you don't ski. The Spa at The Woods was among four other businesses they filmed. After editing we will have a one minute blurb. It is set to air Wednesday, Jan.27, at 7:30 and will be repeated during the following week at random times.
Don forget your favorite Valentine. Gift certificates are available and we will happily send them out to you. We will also include a $10 gift voucher, good towards any treatment. Give us a call and let us make you a hero!
Financial Update through December of 2009
|
INCOME |
Fiscal YTD |
Budget |
Last year |
|
Operating Income (less Spa) |
$527,654.58 |
$527,275.12 |
$554,197.82 |
|
Non-operating Income (interest & dividends) |
$743.86 |
$4,600.00 |
$5,441.75 |
|
Spa Income |
$103,803.34 |
$139,135.00 |
$128,423.51 |
|
Net In-Unit Service Income |
$3,444.60 |
$4,990.00 |
$4,929.91 |
|
Total Income |
$635,646..38 |
$676,000.12 |
$692,992.99 |
|
EXPENSE |
|||
|
Spa Expense |
$139,660.29 |
$163,408.32 |
$149,146.65 |
|
Terra Median Expense |
$114,038.88 |
$128,084.96 |
$129,623.75 |
|
Maintenance/Grounds Expense |
$131,558.35 |
$135,671.80 |
$130,380.47 |
|
General & Administrative Expense |
$201,800.90 |
$220,023.30 |
$202,584.21 |
|
Non-operating Expense (legal) |
$18,448.09 |
$33,833.36 |
$45,881.23 |
|
Total Expense |
$605,506.51 |
$681,021.74 |
$657,616.31 |
|
NET INCOME |
$30,139.87 |
($5,021.62) |
$35,376.68 |
Spa revenues continue to fall short of our budget and the past several years despite our efforts to bring in more business. Fortunately we have been able to reduce the associated operating costs and make up for some of the loss. Our savings in Terra Median expense comes primarily from reduced propane costs as a result of now owning our propane tanks at the TM and securing a good contract price for propane there. At year end we should apply any savings in propane to the cost of replacing the tanks which was a $20,000 capital expense taken from our reserve and is not reflected in these operating numbers.
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Posted by tony at 12:56 PM
December 30, 2009
December Newsletter
THE WOODS DECEMBER NEWSLETTER 2009
service@woodsresort.net 802-422-3100
________________________________________________________________________________________________________________________________________________
Happy Holidays
The staff at The Woods wishes all of our Owners and their guests the best during this Holiday Season and throughout the new year.
Board of Directors Position
We are sad to report that after serving as treasurer on The Woods Board of Directors for the past four years, Ed Martins has sold his Woods condominium unit and has stepped down from the Board. We ask that anyone interested in serving out the remainder of his term on the Board please contact Tony Hart, The Woods General Manager or Richard Mandel, The Woods Board President. In general, the Board meets once per month by conference call with the General Manager to review operations, capital projects, financials, and discuss any other Woods business matters as needed and appropriate.
Maintenance/Grounds
Winter arrived with some very cold temperatures and strong winds in mid-December. We have not had much snow but our crew has still had to sand and salt several times. We checked unit furnaces in October to verify that all were working heading into the cold season and again checked them in the middle of the most recent cold snap. Despite these efforts we have had three no heat calls, two of which came in the late evening hours when an owner and a renter arrived finding cold units. We continue to recommend burner cleaning and routine maintenance on an annual or biannual basis to help prevent emergency calls.
Maintenance has remained busy with additional owner requests for new fireplace doors, installing wall mounted flat screen TVs, and performing a wide range of minor in-unit and Terra Median maintenance. Please call or e-mail with any maintenance requests.
Recycling
The Woods now has “single stream”, “co-mingled”, recycling. Blue, 16 gallon recycling bins have been delivered to each unit. All clean glass, plastic, cans, cardboard, and paper may be placed together in the recycling bin or a paper bag or cardboard box for recycling. Please leave the recycling bin outside the entry to your unit early on Monday and Friday mornings for pick up. The bin will be returned empty in the afternoon when the "non-recyclable" trash is collected from the trash closet outside the unit.
A "recycling only" dumpster has been placed in the Spa parking lot across from the Terra Median building. All clean "co-mingled" recycling may be placed in this dumpster, but please do not place any trash in the dumpster or the entire dumpster contents will be treated as trash and not be recycled, resulting in both wasted effort and higher cost.
We ask for your understanding and patience as we work out the best procedure to efficiently operate a recycling program. This is new to us and we may need to make changes as we get the program under way. Monday or Friday snow storms and holidays could cause some variation with our pick up schedule. Thank you for your cooperation.
Shuttle
Schedules for Gramps Shuttle to and from Killington for Woods Owners and Guests have been placed in most Woods units and delivered to the area rental agents for guests checking in to Woods units. Please call or stop by the administration office if you need a copy.
Spa
December had a slow start but with the holidays here we are seeing increased bookings and gift certificate sales have picked up substantially. We have asked the local rental companies to include our Spa brochure along with a $10 Spa voucher in their arrival packets. We hope this will encourage more people to book treatments.
Our Spa e-mail newsletter launched on December 15th. In addition to owners, we e-mailed 175 newsletters to local businesses and past clients. We will continue to tweak it, so please forward any helpful suggestions you might have or what you would like to see in it.
Spa winter hours are now in effect: Sun-Thurs 9am-8pm, Fri & Sat 9am-9pm. Remember your 10% homeowner’s discount. We hope to see you over the holidays.
Financial Update through November of 2009
|
INCOME |
Fiscal YTD |
Budget |
Last year |
|
Operating Income (less Spa) |
$461,682.11 |
$461,365.73 |
$484,316.51 |
|
Non-operating Income (interest & dividends) |
$692.15 |
$4,025.00 |
$3,864.45 |
|
Spa Income |
$64,901.59 |
$86,925.00 |
$79,302.91 |
|
Net In-Unit Service Income |
$3,402.60 |
$4,390.00 |
$4,203.49 |
|
Total Income |
$530,678.45 |
$556,705.73 |
$571,687.36 |
|
EXPENSE |
|||
|
Spa Expense |
$106,778.35 |
$122,266.65 |
$115,650.32 |
|
Terra Median Expense |
$97,979.72 |
$110,011.84 |
$110,963.81 |
|
Maintenance/Grounds Expense |
$108,637.33 |
$116,802.10 |
$112,087.74 |
|
General & Administrative Expense |
$173,430.00 |
$189,137.55 |
$176,893.35 |
|
Non-operating Expense (legal) |
$18,188.09 |
$29,666.69 |
$43,364.64 |
|
Total Expense |
$505,013.49 |
$567,884.83 |
$558,959.86 |
|
NET INCOME |
$25,664.96 |
($11,179.90) |
$12,727.50 |
We continue to try to keep expenses below our budget; however, December will see some increased maintenance costs for sand and salt and refuse removal from properly disposing of old construction debris left on site many years ago.
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