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July 23, 2009
July Newsletter 2009
THE WOODS JULY NEWSLETTER 2009
service@woodsresort.net 802-422-3100
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2009/2010 Capital Projects
Cluster Units – We now have a second crew repairing the stucco siding. Wet weather is still an issue and slowing progress but we are working in both B and C clusters with a two person crew in each.
Water System – We are in the process of updating our “source protection plan” as required by the state every three years and we have drafted and submitted an updated monthly sampling plan to the state. Automatic controls for one of our three holding systems have been repaired and our plumber and electrician are moving forward to diagnose and complete repairs to the other two systems.
Kohl / Madowitz Lawsuit
No change. As reported last month, there is no update regarding this lawsuit. We are waiting for the Vermont Supreme Court to review the briefs submitted and schedule Oral Argument. There could easily be several months or more delay based on the Court’s case load before this takes place. Please do not hesitate to direct any questions regarding this litigation to the Association Board of Directors or General Manager.
Maintenance/Grounds
We continue to have unsettled weather with showers or rain several days a week or more. Our grounds crew has barely kept up with mowing and trimming between storms. We have also cleaned up dead and overgrown shrubs by the pond behind B cluster and will continue to make spot improvements to the grounds.
Village cement patios have all been pressure washed to remove dirt and algae. With any sign of extended dry weather we will start staining the wooden decks throughout the Clusters and Village.
On Thursday night July 16 we experienced a severe lightning storm causing cable outages throughout The Woods and damaging television sets in several units. We recommend that as a precaution, everyone use a surge protector when plugging in an expensive TV or computer. Comcast responded early Friday morning and had the cable service repaired by 9 AM.
Also on that same night, although not necessarily related to the storm, we had a break in a four inch water main causing a loss of water pressure to F and G Clusters and the two Woods Homes. We were able to restore full pressure to F Cluster on Friday by isolating the main that served G Cluster and the Homes and on Saturday we located the break at the end of the main in the woods beyond the two Homes and had it excavated and repaired by late Saturday afternoon.
We have replaced the ladder for the TM hot tub with a commercial grade ladder properly inserted in to the cement decking. The old ladder was no longer stable and the brackets holding it to the deck were broken due to poor design not well suited for a public pool area.
Boiler Room Burner Cleaning and Maintenance – Our independent service technician is still offering to clean both the hot water heater burner and heating system boiler burner for a contract rate of $115 including installing new thermo couples and pilot orifices. Most units at The Woods have not had these systems cleaned in many years. Over twenty owners have now contracted to have this service and we recommend all owners consider having it performed. In several instances the cleaning uncovered safety hazards and other needed burner repairs.
Propane Pricing
We have been asking AmeriGas Propane to lock in a contract price for next year for several months. They have finally given us a floating rate of fifty cents over their local market index which we have agreed to for the next year for the Woods condominium units.
AmeriGas owns all of the tanks and regulators at The Woods. Better pricing is available elsewhere if you own the propane tanks and The Woods Board of Directors has decided to move forward in this direction and begin by replacing the tanks at the Terra Median building with new tanks we will own. Based on the high propane usage for the TM building, the payback time for the replacement of the tanks at the TM will be only three to four years, perhaps less. The Woods has over seventy propane tanks and at this time it is not feasible to replace all of the tanks for the individual units.
Spa
Spa business has been slow. We have had some success with our papaya pineapple pedicure special, and we are now offering 20% off massages Monday-Thursday in order to try and increase business. New additional lounge chairs have been ordered for the outdoor pool deck and we are awaiting their arrival. However, with the rainy weather, we have not needed them as of yet. Let’s hope that August is better.
Financial Update through June of 2009
|
INCOME |
Fiscal YTD |
Budget |
Last year |
|
Operating Income (less Spa) |
$132,177.05 |
$131,818.78 |
$138,390.19 |
|
Non-operating Income (interest & dividends) |
$450.45 |
$1,150.00 |
$2,143.07 |
|
Spa Income |
$14,453.90 |
$13,700.00 |
$15,796.00 |
|
Net In-Unit Service Income |
$429.77 |
$1,210.00 |
($318.14) |
|
Total Income |
$147,511.17 |
$147,878.78 |
$156,011.12 |
|
EXPENSE |
|||
|
Spa Expense |
$25,803.16 |
$27,558.30 |
$27,316.20 |
|
Terra Median Expense |
$24,673.65 |
$26,446.14 |
$24,767.05 |
|
Maintenance/Grounds Expense |
$26,401.49 |
$34,093.60 |
$34,555.62 |
|
General & Administrative Expense |
$47,301.71 |
$53,808.80 |
$49,140.58 |
|
Non-operating Expense (legal) |
$4,347.25 |
$8,333.34 |
$12,253.71 |
|
Total Expense |
$128,527.26 |
$150,240.18 |
$148,033.16 |
|
Net Income |
$18,983.91 |
($2,361.40) |
$7,977.96 |
YTD legal fees and operating expenses are coming in below budget. However, the budgeted legal fees were spread equally over twelve months and we know they will increase significantly when we go before the Vermont court. Grounds and maintenance has had no large expenses but repair to the broken water main on July 16 will cost several thousand dollars and we will have increased TM expenses when upgrades are made installing a safety vacuum release system for the pool.
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Posted by tony at July 23, 2009 11:30 AM