Suggestions & Recommendations for Future Revenue Analysis Task Force (FRATF)
By Tom Blakeman, April 14, 2021
The FRATF was appointed with an implicit assumption that more ‘new funding’ needs to be identified for the future (and current) benefit of Hot Springs Village. This assumption may or may not be accurate at all.
Before FRATF comes forward with recommendations on ‘new funding’ there are several long-standing problem areas within the Village and POA that must be addressed. These include General issues, Expense and Cost Reduction issues, Management issues, Governance issues, Employee & Staff issues, and Capital Allocation issues.
All of the problem areas are addressed in this report. Assuming that all are resolved, generating ‘new revenue’ may not be needed at this time. If not resolved, or if there is still a desire for more funding, the report outlines several Plans that have the potential to raise significant new revenue streams.
Hot Springs Village is a unique animal. There is no ‘cookie cutter’ solution that can be adopted from some other similar community ‐ there is no other similar community. Nonetheless, all the suggested Plans are based on concepts that are used in many other communities all over the United States.
If new revenue is truly deemed needed, it is hoped that the FRATF and the Board of Directors will choose one or more plans with care. That decision should NOT be based on the expediency or ‘saleability’ of any particular Plan. Decisions should be based solely on what is truly The Best Interest of Hot Springs Village.
[Click on the PDF below to read the full article. This pdf may be enlarged and also downloaded.]FRATF-Comments-4-14-21
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