Play vs. Pay
The Community Relations Committee of Lake Wildwood recently sponsored four educational sessions for the community entitled Informed Members. Each session dealt with a different aspect on the governance of the association. All four of these programs are available in the Channel 95 video section of the website.
The fourth session on Financial Management provided some real insight into the income and expenditures of Lake Wildwood.
Our General Manager, Bryan Cox, explained in detail just how our funds are generated and how they are spent. The graphic he displayed showed that the majority of our funds come from assessments. That is no surprise. What was surprising was the small amount that is generated by the use of our amenities.
He pointed out that if more residents used and paid for all of the wonderful activities that are offered, it would have some effect on our assessment. One interesting observation was the Food & Beverage budget that has always had a short fall in income.
He suggested that if every one of us spent an additional $.35 a day at our beautiful clubhouse, we could wipe out that deficit. That is one hamburger or bowl of soup and drink per week.
The idea that eating, drinking or playing is a much better way to offset our annual assessment than just increasing the amount each year is a no brainer.
One attendee at this session commented that if the membership knew that spending a little more money in amenity fees would help keep our assessment reasonable, surely all would want to participate.
So, now you know. Get out and play is the message here.
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