Estimated Operating Budget For The Year Jan 1 - Dec 31 2021 now posted on DVC website

[SAMAYA]

Estimated Operating Budget For The Year January 1, 2021 Through December 31, 2021 now posted on DVC web site for your home resorts.

For Old Key West

2021 Estimated Annual Dues Assessment
The estimated Annual Dues for the year January 1, 2021 through December 31, 2021 are $8.3578 per Vacation Point, which is comprised of the estimated Annual Operating Budget ($5.4977 per Vacation Point), the estimated Annual Capital Reserves Budget ($1.6029 per Vacation Point) and the estimated ad valorem taxes ($1.2572 per Vacation Point).


Annual Budgetxxxxxxxxxxxxxxxxxxxxxxxxx2021xxxxxxxxxxxxxxxx2020

Administration and Front Desk .. $5,642,694 xxxxxx $6,329,932
Annual Audit mmmm.mm..mmn.$14,900 xxxxxxxxx $14,900
DVC Reservation Component x.x $52,950 xxxxxxxxx $52,819
Fees to the Division xxxxx.xxxxx $54,162 xxxxxxx.x $54,162
Housekeeping ..xxx...xxx.xxxxx. $13,352,790 xx.xx $11,499,702
Income Taxes xxxxxxxxxxxxxxx. $222,673 xxxxx.xx $272,134
Insurance .xxxxxx.xxxxxxxxxxx. $723,010 xxxxx.xx $504,968
Legal xxxxxxx.xxx.xxxxxxxxxxx. $1,000 xxxxx.xxxx $1,000
Maintenance ..xxxx.xxxxxxxxxx. $4,887,722 x.xx..x $5,175,495
Management Fee ..xxxxxxxxxxx. $4,840,333 ..x.x... $4,527,763
Member Activities ..xxxxxx.xxxx. $2,027,677 ..xx.x. $1,869,336
Security .xxxx.xxxxxxxxxxxxxx.. $525,373..xxx...x. $665,388
Transportation ..xx.xxxx... xxxxx $9,319,360 ..xx.x. $8,383,183
Utilities xxxxxxx.x.xxxxxxxxxx... $2,136,527 ..mxx. $2,090,192

From the figures above we can see there's not only been significant increases but also significant decreases such as.........

Administration and Front Desk .xx10.8569% Decrease
Housekeeping xxxxxxxxxxxxxxxx 16.1144% Increase
Security xxxxxxxxxxxxxxxxxxxxx 21.0426% Decrease
Transportation xxxxxxxxxxxxxxxx 11.1673% Increase

Transportation increased by 11.1673%, this is now the second year that OKW has experienced a double digit percentage increase in transportation cost, as it increased from $6,480,085 in 2019 to $8,383,183 in 2020, which was a massive increase of 29.368%.

Has any other resort experience such an increase for Transportation of 43.8153% since 2019?

[Lamima]

AKV:$8.0728
BCV:$7.4373
BWV:$7.8126
BLT: $6.8998
VGF: $6.8118
SSR: $7.1110
Poly $7.0542
RR:$8.3833
HHI: $9.9730
VBR: $8.8560/$11.2307
OKW: $8.3578
VGC: $6.9927
AUL: $ $6.2799 /$8.3539
BRV: $8.1062
CCV: $7.5903

[Jpurce03]

Originally Posted by Lamima

AKV:$8.0728
BCV:$7.4373
BWV:$7.8126
BLT: $6.8998
VGF: $6.8118
SSR: $7.1110
Poly $7.0542
RR:$8.3833
HHI: $9.9730
VBR: $8.8560/$11.2307
OKW: $8.3578
VGC: $6.9927
AUL: $ $6.2799 /$8.3539
BRV: $8.1062
CCV: $7.5903

Weird allocations of budgets as you read into it. I do wonder if there will be a 2020 credit offset.

But 2 things: 1) the three active resorts has basically 0% increase and AUL and CCV have the biggest direct incentives right now. 2) How do dues go up when resorts are closed for months and there are 28k layoffs (proportionally DVC from what I understand).

Meanwhile on Wall St. DIS made 30B in the stock market yesterday. I bet that gets pocketed by shareholders, but the entertainment expenses (about 1/50th) aren’t so lucky.

I work on Wall St. and calling out greed. If a Wall St bank is a better corporate citizen than DIS - something is wrong (!).

[sawickipedia]

Originally Posted by Jpurce03

Weird allocations of budgets as you read into it. I do wonder if there will be a 2020 credit offset.

But 2 things: 1) the three active resorts has basically 0% increase and AUL and CCV have the biggest direct incentives right now. 2) How do dues go up when resorts are closed for months and there are 28k layoffs (proportionally DVC from what I understand).

Meanwhile on Wall St. DIS made 30B in the stock market yesterday. I bet that gets pocketed by shareholders, but the entertainment expenses (about 1/50th) aren’t so lucky.

I work on Wall St. and calling out greed. If a Wall St bank is a better corporate citizen than DIS - something is wrong (!).

Go look at my spreadsheet - all new resorts have lower than avg annual increases and that has been the case for 20 yrs - no conspiracy theory required.

The layoffs were required to allow CMs to qualify for additional UI benefits if they get approved by Congress. All laid off CMs have an 18 month recall right meaning DIS has to offer them their old jobs back before hiring any replacements.

[FessParker1]

OKW has a bigger increase because it's less points to stay there per night. If its 17 points per night to stay at Poly and 10 pts to stay at OKW the Poly night is providing more per night towards all fees.

[Nickys]

Originally Posted by Jpurce03

2) How do dues go up when resorts are closed for months?

These are the estimated dues for next year. The resorts are not projected to be closed next year so the expenses are not affected by closures. And once occupancy levels start increasing at the DVC resorts then some of the CMs who were laid off will be recalled (or others reassigned).

If DVD under-estimated operational costs for next year they would have to pay the difference to Disney.

Any rebate due to reduced costs during the closure will be applied against the dues when they send out the actual demands in December.

[pdude81]

So I just got my dues and meeting notices in the mail and something looks odd. I thought I read that PVB was going to be 7.05 next year, but when I look in the budget for 2021 I'm seeing Member dues assessment showing as 4.4902. Has the number changed or am I just reading this wrong?

For my 3 homes these notices are showing:

PVB 4.4902
AKV 5.3238
RIV 5.5694

[Goofygrl]

Originally Posted by pdude81

So I just got my dues and meeting notices in the mail and something looks odd. I thought I read that PVB was going to be 7.05 next year, but when I look in the budget for 2021 I'm seeing Member dues assessment showing as 4.4902. Has the number changed or am I just reading this wrong?

For my 3 homes these notices are showing:

PVB 4.4902
AKV 5.3238
RIV 5.5694

Keep going. That sounds like just operating budget. Est taxes. Might also be missing the capital reserve contribution.

[LauraLea]

I just briefly looked thru those notices. I think they were only operating expenses. I saw nothing for property taxes or capital reserves.

Laura

[Nickys]

The Condo Meeting notices including Budgets are now out.

Log into the DVC site, go to Condo Notices and you should see details of the Condo Meeting and then the Budget for your home resorts.

The estimated annual dues are also included, scroll down a few pages to find them!