For 2007 LIV posted a $410,513 income increase over 2006. . That normally would seem great except if you subtract the $332,800 sewer assessment and $123,000 condo fee increase for final six months this year, our Aramark management team seemed to actually lose our Village $45,287 in income for 2007. This is after a $29,000 increase for the Centers (Village Grill, Golf Course, Rental Office, Laundry, and Newsletter). It just appears that Aramark management generated quite a bit less income for 2007. If the Centers are not the cause for this decrease, what is?
NOTE: In response to the first comment on this article, if I'm incorrect, I will post the corrections with an apology. By no means am I ridiculing Mary Steffensen our treasurer, to whom I also think is doing a fantastic job. I just feel we pay a lot to Aramark to generate income for our Village along with reducing our expenses and think owners should be aware of these figures and their performance.
2 comments:
I'm hoping Mary S., our treasurer, will respond to these statements. She is doing an excellent job.
These nuimbers are pretty misleading. Especially the "$29,000 increase for the centers" that you state. Why not mention that the 29,000 increase does not come from an increase in income but rather from a REDUCTION in cost of goods, or should I say in EXPENSES which is what you state the management company should do.
Why not also mention that the reduction in income is due to things beyond the management's control. Building Permit fees down $22,560 (mgmt can't force people to build), Fine income down $3,290 (mgmt can't fine if there are no violations), late fee income down $1,825 (can't force people to pay late) and 21,154 down in the Rental Fees (Mgmt had no choice but to stop all rentals during the Emergency Sewer Line Repairs). Last time I checked, Accurate reporting is supposed to be unbiased.
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