The POA sent out the following email on February 16, 2021:
The Future Revenue Analysis Task Force Jumps into Action
“On February 1, 2021, the HSV Board announced the formation of the Future Revenue Analysis Task Force (FRATF). This independent group of Property Owners will study HSV’s financial condition and provide recommendations for meeting our current and future revenue needs. Meetings will be held the second Monday of every month on Zoom until the POA allows in-person meetings. Meetings will be recorded and posted on the POA YouTube channel. The February 8, 2021, meeting is posted
“Background: Hot Springs Village is a private, gated community. In many ways, the POA staff fulfills the responsibilities you would find in city government. The POA is responsible for maintaining our roads and facilities. It provides police, emergency services, and utilities to all residences. We also enjoy many amenities such as golf, lakes, and trails. We all want to keep our community safe and financially solid as we continue to enjoy the many activities and programs available. This costs money. The Task Force will analyze what the financial needs are currently and what they are projected to be in the next 5 – 7 years based on data provided.
“The Task Force will also look at all potential means of increasing HSV’s revenues to meet our needs – or reducing its expenses. The Task Force is simply charged with bringing credible and objective revenue options to meet our needs for the HSV Board to consider. If approvals are needed, they rest with the Property Owners. Any financial analysis must look at the full picture of revenue (money coming in) and expenses (money going out). Over the next several months, the Task Force will focus on three key areas:
- Operation costs: What are the actual costs to run Village operations (excluding the deferred maintenance backlog)?
- Maintenance backlog & capital projects: With a limited budget, maintenance has been postponed and the backlog increases yearly. In addition, much of our infrastructure (roads, water lines, buildings) is getting to the point where repair or replacement is needed. What plans are being deferred? What will it take to get the backlog down to a manageable level?
- Revenue: Analyze all current and potential revenue sources. How much revenue is needed today? In the next 3-5 years? By looking at all the options how can revenue be increased to meet the needs?
How Can Property Owners Contribute and Participate?
“There will be many opportunities over the coming months to share your suggestions and thoughts. We will need on-going input from the community as the Task Force does its analysis. Be attentive and constructive; be open-minded and participate. Respond to surveys and email your constructive suggestions to yourvoice@hsvpoa.org. Stay in the know by watching the Task Force meetings. As property owners, we all have a vested interest in the future of Hot Springs Village. We all will reap the benefits of sound decisions we make in the coming years. Your support and participation during this process are appreciated.”
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Scott McCord
02/16/2021 — 10:46 pm
Sounds like a great plan. Revenue is the golden key to our future success. There is some real talent on the Task Force. Anticipate crystal clear explanation of their conclusion, and ideas for action plan to be delivered to the Board for their consideration .
Thank you Task Force members.
Lorri Street
02/17/2021 — 2:07 pm
#2 of the 3 focused areas of the newly formed Task Force gets my ire up. During the course of ceo Nally’s reign of our Village, MILLIONS of dollars of Property Owners money flew out the door with little or no ROI. Think:
CMP Fiasco: Not just the mere $500,000 spent paying the consultants for the ‘plan’ but hundred of thousands of addtional $ spent to attempt to persuade both resident and non-resident Property
Owners that OUR Village direly needed the CMP in order to survive. Pure Rubbish
Pool Purchase: $1.2 million expenditure and counting. Just another throwing of good money after a bad idea. ROI is likely pennies on the dollar.
$900,000 spent on state of the art ladder for truck. Now I know it has come in handy for some house fires in the Village but was it a ‘need’ that further delayed other Village infrastructure repairs?
Gate Security debacle: Money spent on initial contract and further dollars spent on the follow-up lawsuit. ROI? A big fat ZERO.
Lawsuits: Retainer paid to Mitchell Law firm out of Little Rock likely in the hundred of thousands excluding the actual costs of lawsuits on Nalleys watch. ROI…nada.
There was so much of our money going toward poor leadership decisions it’s no wonder we have such a financial crisis today. Then of course… ‘we’ had to buy Nalley’s contract out to be rid of her to the tine of $300,000 plus. ROI? IMHO 100%!
Anyone else want to chime in on other frivolous and wasted money expenditures under the Nalley regime? I personally know for a fact that Nalley employed a ‘Life Coach’ for herself. Have always wondered who paid for that?! Likely just another perk she buried somewhere in the no-line-item details of POA expenditures.
Don’t ask me for an assessment increase until we have a full and line item accuracy of our money spent under Nalley’s spell.
steve bylow
02/17/2021 — 4:33 pm
Lorri – I agree with your assessment and I am also disappointed it happened but I’m thankful for the new Board members and their decision to have an independant Task Force. I am also impressed with the talent on Task Force.
Unlike the past, I’ll have confidence that the assessment from the Task Force is not some “rubber stamp” of what the Board or GM/CEO desires.
Steve
Vicky Didion
02/17/2021 — 3:40 pm
Absolutely agree with Lorri Street. No more unnecessary spending or assessment increases until we can see headway on controlling the budget. Adding new waste management trucks in my opinion is not a good idea. Mr. Temple stated that it would cost $300k and save $100k. Mainly by the way of cutting jobs. I asked Mr. Temple in an email what was the budget for garbage and he never replied. I will vote no on any assessment increase.
Elizabeth H Berry
03/19/2021 — 3:08 pm
My first concern is the lack of communication between the board and the people. Two examples is the trash trucks lease. After reading the report stating the basic premise for the reasons for the lease is saving on salaries. As stated the actual running of the system has not been completely explained. Such as the schedule of pickups, one trip down the street or two trips. What about pickup of things that do not fit in the bins. There are more questions regarding the other trucks that will be leased. It seems that the task of informing us has been overlooked. Why was this lease decided on at this time? Why could it not wait the short time until a full board was in place?
I just found out about the archery (sorry, I don’t know what it is called) place set up. Again, there was no notification that I know of to inform us that such a game, if you will, was being set up. The cost is not the issue except every penny counts when you are thinking of asking for an increase in fees. We should be informed before an expenditure is made as to who, what and why this decision was made.
I concur with everything Lorri stated above and am tired of “nally” type of actions by the board. Someone said that they were elected to the board to do the things needed doing and any voice from us, the people, was not relevant. I totally disagree.
A fee increase without complete and open information will be turned down by me.
Elizabeth H Berry
03/19/2021 — 3:12 pm
My first concern is the lack of communication between the board and the people. Two examples is the trash trucks lease. After reading the report stating the basic premise for the reasons for the lease is saving on salaries. As stated the actual running of the system has not been completely explained. Such as the schedule of pickups, one trip down the street or two trips. What about pickup of things that do not fit in the bins. There are more questions regarding the other trucks that will be leased. It seems that the task of informing us has been overlooked. Why was this lease decided on at this time? Why could it not wait the short time until a full board was in place?
I just found out about the archery (sorry, I don’t know what it is called) place set up. Again, there was no notification that I know of to inform us that such a game, if you will, was being set up. The cost is not the issue except every penny counts when you are thinking of asking for an increase in fees. We should be informed before an expenditure is made as to who, what and why this decision was made.
I concur with everything Lorri stated above and am tired of “nally” type of actions by the board. Someone said that they were elected to the board to do the things needed doing and any voice from us, the people, was not relevant. I totally disagree.
A fee increase without complete and open information will be turned down by me.
Why are my comments being rejected. I have not made any statements to the committee before now.
Elizabeth H Berry
03/19/2021 — 3:14 pm
My first concern is the lack of communication between the board and the people. Two examples is the trash trucks lease. After reading the report stating the basic premise for the reasons for the lease is saving on salaries. As stated the actual running of the system has not been completely explained. Such as the schedule of pickups, one trip down the street or two trips. What about pickup of things that do not fit in the bins. There are more questions regarding the other trucks that will be leased. It seems that the task of informing us has been overlooked. Why was this lease decided on at this time? Why could it not wait the short time until a full board was in place?
I just found out about the archery (sorry, I don’t know what it is called) place set up. Again, there was no notification that I know of to inform us that such a game, if you will, was being set up. The cost is not the issue except every penny counts when you are thinking of asking for an increase in fees. We should be informed before an expenditure is made as to who, what and why this decision was made.
I concur with everything Lorri stated above and am tired of “nally” type of actions by the board. Someone said that they were elected to the board to do the things needed doing and any voice from us, the people, was not relevant. I totally disagree.