The Future Revenue Task Force (FRATF) sent out an eblast to the community on Tuesday, March 16, 2021. They are inviting you to help with the task of determining future funding for the village.
“The Future Revenue Analysis Task Force (FRATF) is encouraging all property owners to engage with us as we move through the process of understanding the current financial situation of Hot Springs Village and examining options for meeting the financial needs to secure our future.
“Over the next months, the Task Force will share data and information through a variety of communication tools, including a dedicated web page, eblasts/emails, infographics, surveys, and public meetings.
“We’ve divided our process into four steps:
1. “Taking Stock” – providing information and facts on HSV – its scope, composition, complexity, infrastructure, and governance.
2. “Running the Ship” – sharing realistic data on what it takes to RUN Hot Springs Village and what is required to MAINTAIN the Village over time, along with an understandable portrayal of how the operational expenses are expected to grow annually over the next 5 to 7 years.
3. “Playing Catch Up” – sharing an in-depth analysis of the significant infrastructure and facility maintenance that has been deferred – and the dollars required to bring us up to expectations over an extended time period.
4. “Fueling the Journey Forward” – offering an inventory of revenue options that could be used to continue moving the Village forward in a financially responsible manner. These options will be presented for consideration to the POA Board and to the entire community of property owners. The Task Force and the Board of Directors hope HSV property owners will take advantage of the forthcoming communications and will provide input throughout the process. Your voice is important as we chart a fiscally responsible course to a bright future for Hot SpringsVillage. “
Please send your ideas, comments, and encouragement to yourvoice@hsvpoa.org.
Future Revenue Analysis Task Force Hot Springs Village
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Gene Garner
03/18/2021 — 10:29 am
Our financial situation needs a hard look to determine how our money is being spent and how effective it’s been used. In the past 20 years we’ve seen an ever changing philosophy of what’s more important, our basic infrastructure or pie-in-the-sky wish lists.
In 2013 we spent over $6 million to increase the water plant capacity from 4 million gallons/day to 6 million gallons/day of treated water. We’re using the same amount of water today as we did in 2013. There was $0 return on investment and a later BOD chairman, speaking to the cost stated, “…expanding the water treatment plant had an adverse effect on our ability to maintain the Village infrastructure. We needed to find a better way to do business”.
Later there was the “Luxury RV Park ” fiasco ($ ?), the unpopular CMP ($500k), the gate software contract (which resulted in a lawsuit that we lost), the Westerman loan, the CEO buy out ($300k+) and other ill-conceived and unrealistic money wasting projects.
Even the way assessments are handled is unfair and discriminatory. As a member of the POA with a house I pay $831.09 a year for access to the common properties–but anyone from the general public can buy the same access for $500. This conflicts with the HSV Declaration and Arkansas contract statutes.
Our assessments and fees go up every year for one reason–to compensate for the poor decisions made by the BOD. Like other Villagers I’m not privy to most of the workings of the BOD but I don’t know of a single decision the Board has made that saved us money.
Each new group of directors seem to believe they have to spend as much money as they can and that is their only priority. I’d like to see seven Villagers that put our infrastructure (streets, gates, amenities, common properties and services) first when money is involved. And some money saving ideas would be nice.
If this FRATF is a reincarnation of the Future Funding Task Force that gave us the “two-tier” assessment we can expect another assessment increase–for the improved lot owners only.—Gene
Tom Blakeman
03/19/2021 — 8:30 am
Again, Gene Garner is right on target. “Reincarnation” of the FFTF.
In fact, just yesterday the new FRATF began their real mission by sending out the first of many marketing pieces to come: “The Underpinnings That Keep Villagers Happy #1”. They are already ‘educating’ us all on why we should be happy about the assessment increases they plan to propose.
No mention of the millions of $$ wasted in the last 10 years. No mention of accountability for any of those failed Boards. No mention of our broken fee system or dumb policies such as selling “memberships”. Sad.
Sue Posner
03/19/2021 — 12:47 pm
POA has enough $ to maintain, it’s just a campaign to spend on frivolous stuff, to convince owners to ante up, good grief we don’t need another committee the board makes up, future analysis revenue task force FRARF, that’s urbanist lingo. Wake up
steve bylow
03/21/2021 — 11:00 am
Dear Task Force
Thanks for the taking the time analyze the situation and attempt to get the Village on track.
Most folks I know appreciate the fact you all are not “Consultants” and we look forward to your observations and recommendations.
I may not agree but I’ll actually wait to see what you all come up with first.
Thanks
Steve
Lorri Street
03/21/2021 — 6:49 pm
Gene and Tom…your perspectives are spot on! BOD’s current or incoming… DO NOT ask the We The People Property Owners for one dime more in assessment fees UNTIL you can ‘show us the money’ that should have been allocated to infrastructure which instead went to the past Regimes/Leadership…who then spent/wasted on their particular grandiose whims!. To be certain WE Property Owners will not just roll over and agree to your spin on an assessment increase.
Minn Daly
03/22/2021 — 9:06 am
Gene, Tom & Lorrie, thanks to each of you for statements above. In total agreement on spending issues going forward. Assessment increases will be looked at closely by all membership. Again thanks to each of you! Minn Daly
Barry Juaire
03/28/2021 — 6:24 pm
The present salaries of Pay Grades 11-18 need to be revised and lowered to REALITY-Not EXXON EXECUTIVES !! From 56,000+ to 109,500 a year. Before any assessment increase is considered this has got to change and again be published openly to all HOME OWNERS.
Lloyd Sherman
03/29/2021 — 5:36 pm
While I tend to agree that the FRATF should continue their work, one really has to wonder if the approach that appears to be being rolled out seems like nothing more than a justification of the infrastructure we now have, how important it is, and why we need to increase assessments to take care of the backlog that has been ignored for years. We already knew we had a huge hole to fill, but it wasn’t being done. Instead, we kept spending money on projects that we didn’t need at the time. And while it won’t be an upfront cost issue, the fact that we are spending precious staff resources on setting up an archery range for 30-40 residents is just insanity. It’s not the cost drain, but the manpower and attention that will be required to maintain it. This place can’t seem to get out of its own way.
So as I have said more times that I can remember, no further funds or resources should be spent on ANYTHING until we figure out how to take care of what we have. Our pickleball courts remain in shambles and look at the money that took to put in place and now it will cost more to maintain it. You would think we could figure this out, but such does not appear to be the case. Not one dime of increased assessment revenue until all amenities and departments have been evaluated, analyzed and validated that everything that can be done has been done to ensure proper operation and cost effectiveness. And to assure the property owners this has been done completely and thoroughly, it cannot be done by staff. This task should be independent and if the board can’t do it, then you have no option but to hire professionals. Until that is done, all the rest of this activity is busy work. I’m sure this will fall on deaf ears.
And if we take the cash we were able to bank because of Covid and also spend it on unnecessary projects, that too will be a huge mistake. With the frugal approach that was taken to spending last year, we actually could have survived without the PPP. Given that no one knows what, when, or where this Covid thing might go, prudent spending should remain the slogan for 2021.
Wes Smith
05/02/2021 — 11:56 pm
Operation Stability
Solvency today , Profitability tomorrow
Branding starts with a memorable name
Followed by a tag line to reinforce your brand
I’ve submitted 12 paths to prosperity
to the task force hopefully they be recognized & implemented
Margaret notter
07/10/2021 — 4:12 pm
I did not come here just to play. Please keep people like me in mind. I came here mainly because it was gated and safe with police and fire department. Don’t change our gated community environment. Keep our police and fire department.