Hot Springs Village – It’s About the Numbers (June 22, 2021)
The Village is 51 Years Old…..So is Much of the Infrastructure
The Future Revenue Analysis Task Force has completed the data analysis phase of our “task”, by identifying the financial challenges ahead for Hot Springs Village. That process also included sharing with property owners the magnitude and complexity of Hot Springs Village (water, wastewater, roads, culverts, fleet, etc.) and what it takes to run the Village – both day-to-day and year after year.
The infographic below summarizes six of the primary areas currently addressed in our annual budgets. It also shows the shortfall in revenue/income from what is needed.
HSV’s annual budget is built around expected income/revenue. Planned expenses must align with that income as closely as possible. The reality, however, is that the amount of dollars needed to maintain the basic infrastructure of the Village substantially exceeds annual income/revenue.
In the coming weeks and before making our recommendations to the Board of Directors, the FRATF will share with you, HSV’s property owners, options for addressing this problem. These options include many of the suggestions for reducing expenses and increasing revenue that has come directly from the community. The final decision for the resolution of the problem will rest in the hands of the property owners.
Stay tuned……..
Six of the Top Budget Drivers – Hot Springs Village
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Please click on the photos below to enlarge.
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DOROTHY M JONES
06/22/2021 — 7:49 pm
Cheryl, this is not going to work! We don’t need to know where we could go looking forward, we need to know where we are looking back. we have made many very expensive mistakes and we need an audit to see where we are this minute! We need to see that the staff is completely taken out of the picture! They are employees only and have been given way too much power. If these board members can’t handle the job. They will quickly realize that and will resign. When we find where we are now..
We can then talk about where we are going! This Village is not a tiny club, it is a Community and deserves so much more leadership than it has..
Steven Mason
06/26/2021 — 8:06 am
How much does HSV net per person after the smoke clears on outside non-member tournaments?
Are outside tournament green and cart fees discounted over the POA resident regular daily member fees?
If they are, they should bear actual costs plus a percentage because after all this is a business.
Please respond.
Susan Posner
07/12/2021 — 8:57 pm
HSV has so bad huh…not nearly as bad as this village. https://weather.com/news/trending/video/monster-sinkholes-open-up-in-the-villages-in-florida