Hello:
We own contracts at both Boardwalk and Bay Lake and as I was looking over the budgets of both I have a question that I hope someone here can help me with.....
On the Boardwalk budget there is a line for Sales Tax on Support Facilities which is $341,672....however this is not on the Bay Lake budget at all. Does anyone know what this is for and does any other resorts have this line added to the budget???
Security of Boardwalk is almost double that of Bay Lake ($308867 compared to $156239) why would this be so high??? and another HUGE difference is utilities $1,787,766 at BWV compared to $788,570.....a million dollars...really???
I am sure I am missing something, sure BWV has 102 more units but what else am I missing?
Thanks
dan
Hello:
We own contracts at both Boardwalk and Bay Lake and as I was looking over the budgets of both I have a question that I hope someone here can help me with.....
On the Boardwalk budget there is a line for Sales Tax on Support Facilities which is $341,672....however this is not on the Bay Lake budget at all. Does anyone know what this is for and does any other resorts have this line added to the budget???
Security of Boardwalk is almost double that of Bay Lake ($308867 compared to $156239) why would this be so high??? and another HUGE difference is utilities $1,787,766 at BWV compared to $788,570.....a million dollars...really???
I am sure I am missing something, sure BWV has 102 more units but what else am I missing?
Thanks
dan
I own at 3 resorts (SSR, AKV & BLT). I received budget detail for AKV and BLT - still waiting for SSR.
I track everything and when I was loading in the detail for 2011 I noticed something that was a bit surprising. We all know that the dues are made up of 3 primary components - the operating budget, capital reserves and property taxes. For both AKV and BLT, the operating budget went up by over 14%. The massive increase in the operating budget was offset by a decrease of over 20% to the capital reserve component.
I'm going to do a little digging to see what accounts for the majority of the increase to the operating budget and report back tomorrow.
I wonder if the increase has something to do with the refurbishment of the studios at BLT?
We own at VGC and received the notice of the annual members meeting today. I was looking through the material and noticed that the "Condominium" consists of 48 Vacation Ownership Units (which are the 46 two bedroom equivalents and 2 Grand Villas) and 203 Hotel Units. What on earth are the hotel units and why are their finances, expenses and income included in the statement with the DVC units?
OK, I should probably have read the ownership materials more carefully when purchasing, but this is completely new to me. In some respects this makes sense in that the DVC units are one wing of a new addition to the Grand Californian that does include hotel rooms. In fact if I remember correctly a couple of those hotel rooms are scattered in among the DVC units. Not many, just a couple.
So, what does this mean? Are we paying upkeep on some hotel rooms of the GCH? If there is a dry spell selling hotel rooms, do we, the VGC owners, have to pony up cash in the form of DVC expenses? When someone makes a reservation at the GCH which set of rooms are booked first, the original GCH wings or the "Condominium" hotel units?
Any insights to this would be appreciated.
On the other side of the coin my brothers, our wives and I are leaving in 1 week for 7 days at AKV!
MOD: May the item below be returned to its own thread? It doesn't provide a report on 2011 dues and gives new hopes on a topic many tracking: possible return of booking Grand Calif Hotel units on points. (This is an openly discussed rumor by DLR CMs.) Please? Thx!
We own at VGC and received the notice of the annual members meeting today. I was looking through the material and noticed that the "Condominium" consists of 48 Vacation Ownership Units (which are the 46 two bedroom equivalents and 2 Grand Villas) and 203 Hotel Units. What on earth are the hotel units and why are their finances, expenses and income included in the statement with the DVC units?
OK, I should probably have read the ownership materials more carefully when purchasing, but this is completely new to me. In some respects this makes sense in that the DVC units are one wing of a new addition to the Grand Californian that does include hotel rooms. In fact if I remember correctly a couple of those hotel rooms are scattered in among the DVC units. Not many, just a couple.
So, what does this mean? Are we paying upkeep on some hotel rooms of the GCH? If there is a dry spell selling hotel rooms, do we, the VGC owners, have to pony up cash in the form of DVC expenses? When someone makes a reservation at the GCH which set of rooms are booked first, the original GCH wings or the "Condominium" hotel units?
Any insights to this would be appreciated.
On the other side of the coin my brothers, our wives and I are leaving in 1 week for 7 days at AKV!
I own at 3 resorts (SSR, AKV & BLT). I received budget detail for AKV and BLT - still waiting for SSR.
I track everything and when I was loading in the detail for 2011 I noticed something that was a bit surprising. We all know that the dues are made up of 3 primary components - the operating budget, capital reserves and property taxes. For both AKV and BLT, the operating budget went up by over 14%. The massive increase in the operating budget was offset by a decrease of over 20% to the capital reserve component.
I'm going to do a little digging to see what accounts for the majority of the increase to the operating budget and report back tomorrow.
Ah, those dreaded long threads . I tried to open it .. but the page won't load. Probably too many images, etc. (I have a slow internet connection.)
Excellent questions.
I'm hoping this is the case! Please, Santa -- make it so!I had read that in the POS for GCV, there was a clause saying that existing hotel rooms could be declared/converted into DVC. This may be part of the reason the point charts are still not out. It would appear that DVC has exercised that option, adding more rooms (and thus more points at the resort for sales) to the DVC portion of the resort. Those rooms should become available as those units are declared into inventory. Similar to the "Inn Rooms" at VB, or SSR adding the treehouses.