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September 25, 2009
September Newsletter 2009
THE WOODS SEPTEMBER NEWSLETTER 2009
service@woodsresort.net 802-422-3100
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Fall Homeowners Meeting
The Woods Homeowners Fall Meeting will be held on Saturday, November 21 in the late afternoon in the Terra Median Building. This is an informal, non-voting, informational meeting followed by a social hour. Killington Resort will have a general informational meeting for all area homeowners that morning and the resort does plan on being open for skiing and riding at that time. Please call or e
2010 Summer Rentals
We are updating our list of owners looking for monthly rentals next summer. Please let us know if you would like your name and contact information given out to potential summer renters. Two years ago we suggested that Owners looking for summer rentals pool some marketing dollars and advertise in Florida to generate interest in The Woods but at that time there was little to no response to the idea. Several Owners have now resurfaced the concept, so if you would be interested in participating in a common effort to generate monthly summer rentals please contact us by phone or e-mail and we can explore our options. This needs to happen right away as most summer monthly renters like to make their plans for the summer well in advance, often before the new year.
2009/2010 Capital Projects
Cluster Units – Stucco repairs are complete in B, C, and G Clusters. All of the stucco in C Cluster has been painted and painting is underway in B cluster. A and D Clusters are scheduled to have stucco repairs next summer which will complete a three year project to paint and repair the Cluster siding.
Water System – An updated “Source Protection Plan” for our water system was submitted in July and has been approved by the State of Vermont. Also, as required by the state, new locking “man-way” access extensions have been ordered for the underground storage tanks and will be installed before winter.
Kohl / Madowitz Lawsuit
We still do not have a definite date scheduled for Oral Argument before the Vermont Supreme Court but the Court has indicated that we will most likely be heard in early November. After the briefs have been reviewed and Oral Arguments are heard we could still wait several months or more for the Court to issue a decision regarding the case. Please do not hesitate to direct any questions regarding this litigation to the Association Board of Directors or General Manager.
Maintenance/Grounds
Last Chance for Boiler Room Burner Cleaning – 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. As the fall and winter heating season begins this price will no longer be available. If you have not done so and would like your burners serviced, please let us know right away so we can have it scheduled.
In addition to routine mowing and grounds work our crew has been helping with the exterior painting of the cluster units and they have assisted Sue Burgess with the Fall decorations which are now complete.
We have replaced some of the wiring and most of the junction boxes for the walkway lighting in several areas that have been continual problems over the past year.
TM Propane Tanks
New underground propane tanks which The Woods now owns have been installed behind the TM building replacing tanks which were owned by AmeriGas. Replacing these tanks has allowed us to shop our propane for the TM and get a lower contract fixed price for the season. The TM uses approximately 30,000 gallons of propane each year so a savings of only twenty cents a gallon will save us $6,000 a year in propane cost for the TM.
Spa
August business levels were on par with last year; however, September has been very slow. As fall arrives we are again offering our “Pampering Pumpkin” facial special and we will be creating other promotions and working with our therapists to generate income despite the soft economy. Please stop in when you are here. Remember Woods Homeowners always receive a 10% discount on all treatments.
Spa Summer Hours
Sundays: 9:00am-5:00pm
Mon-Thurs: 8:00am-6:00pm
Saturdays: 8:00am-8:00pm
Financial Update through August of 2009
|
INCOME |
Fiscal YTD |
Budget |
Last year |
|
Operating Income (less Spa) |
$263,926.19 |
$263,637.56 |
$276,698.19 |
|
Non-operating Income (interest & dividends) |
$615.47 |
$2,300.00 |
$2,265.73 |
|
Spa Income |
$36,241.82 |
$39,470.00 |
$42,447.16 |
|
Net In-Unit Service Income |
$1,622.65 |
$2,530.00 |
-$2,796.86 |
|
Total Income |
$302,406.13 |
$307,937.56 |
$318,614.22 |
|
EXPENSE |
|||
|
Spa Expense |
$58,824.58 |
$61,516.64 |
$61,605.07 |
|
Terra Median Expense |
$52,189.12 |
$58,042.38 |
$56,710.96 |
|
Maintenance/Grounds Expense |
$57,670.35 |
$65,463.00 |
$61,655.69 |
|
General & Administrative Expense |
$101,559.73 |
$109,780.30 |
$102,095.04 |
|
Non-operating Expense (legal) |
$6,087.25 |
$16,916.68 |
$26,674.16 |
|
Total Expense |
$276,331.03 |
$311,719.00 |
$308,740.92 |
|
NET INCOME |
$26,075.10 |
($3,781.44) |
$9,873.30 |
YTD expenses continue to stay below both budget and last year with savings in all departments. We do anticipate a large propane expense for the TM this month after installing new tanks and when we do finally go before the Vermont Supreme Court for oral argument in the KM Lawsuit our legal costs will also see a increased expense.
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Posted by tony at September 25, 2009 03:27 PM