Review of the 2009 Aramark Annual Report
Our Village Grill lost $76,888 in 2009. It's been advertised that we had 75% of the restaurant remodeled and that apparently didn't need any approval by our Board .
The only references in the Minutes about this refashion were a director’s wish of doing some improvements with a guess estimate and a comment a month later about getting some figures together to present to the Board. Now we find it done with no apparent approval or known costs. Why is that?
The 2010 Budget has projected that our restaurant will lose $67,000 this year. Is this amenity going in the right direction?
Last year our Golf Course lost $97,038, almost doubling the amount it had lost four years ago. The Board said the reason was rising water costs. That may be true but it seems to contradict Aramark’s Water report which shows only a 9% increase or $25,535 more in water costs since 2006. This was not water for just the golf course but the entire Village.
The 2010 budget thinks the golf course will lose $87,192 this year. Is this amenity going in the right direction?
The Laundry was a $4,846 loser. This is a minor loss compared to the above, but this cleaning facility did make a profit of $2,228 in 2005 and a $1,518 profit in 2006. The Board then decided to outsource this amenity instead of buying new appliances. The Village promptly lost $4786 in 2007 and our Board blamed a three month sewer fiasco. In 2008 it lost $5,640 and the Board blamed Hurricane Dolly. No one can deny that the sewer and hurricane had an impact on revenues, but what’s the excuse for losing $4,846 in 2009?
The 2010 budget has projected the Laundry will lose $5600 this year. Are we now saying with this amenity that losing money is now not an exception but a rule. Is our outsourced partner suffering these same losses? Is this amenity going in the right direction?
Our Rental Office showed a profit of $13,489 last year. Celebrations broke out for being in the black for the first time. During the January Board meeting a Villager asked why the Rental Office was showing such an improvement and our illustrious President couldn’t wait to tell everyone it was due to booking more rentals along with the Board's implementation of suggestions they received from a study done after Hurricane Dolly.
Has everyone forgotten that early in 2009 our Board said they added a 2008 Hurricane Dolly $38,712 loss revenue insurance check to the 2009 Rental bottom line. Take away that check and our Rental Office was a $25,223 loser, only $709 better than the previous year when Hurricane Dolly ruined the rental revenues.
The 2010 budget expects the Rental Office to lose $31,800 this year. Does one even have to ask if this amenity is going in the right direction? What do you think?
The report said Securitas saved our Village $3,000 this year and cost $13,131 less than what our Village was paying for the unlicensed gatekeepers in 2007.
Several Directors who still reside on our Board had vehemently argued Securitas, a LICENSED security company, was going to cost our Village thousands more if rehired.
In this report it also showed that our Village had paid $222,346 for Security in 2007. A footnote was attached saying this figure included a management allocation fee of $7,242, a $6,466 final billing fee from terminated Securitas, and a reference that the amount paid to Aramark as part of a new agreement (in originally replacing Securitas) was $174,250. The obvious question here is what did our Board spend an extra $34,388 on?
The 2010 Budget said Securitas will charge our Village $4,368 less this year. Is Security going in the right direction? I'll answer that. YOU BETCHA!
Villagers pay dearly for Aramark and we are told their management professionals are well trained in finding ways at saving our Village money. Our 2008 Board with all of its controversy found a way to lower our Security and Cable costs while contracting for a much better product. It can be done.
Many feel the current Board with our new General Manager are more than capable of saving some of this $195,000 the 2010 budget says we are suppose to lose in our rental office, laundry, restaurant, and golf course. What do you think?
Our Village Grill lost $76,888 in 2009. It's been advertised that we had 75% of the restaurant remodeled and that apparently didn't need any approval by our Board .
The only references in the Minutes about this refashion were a director’s wish of doing some improvements with a guess estimate and a comment a month later about getting some figures together to present to the Board. Now we find it done with no apparent approval or known costs. Why is that?
The 2010 Budget has projected that our restaurant will lose $67,000 this year. Is this amenity going in the right direction?
Last year our Golf Course lost $97,038, almost doubling the amount it had lost four years ago. The Board said the reason was rising water costs. That may be true but it seems to contradict Aramark’s Water report which shows only a 9% increase or $25,535 more in water costs since 2006. This was not water for just the golf course but the entire Village.
The 2010 budget thinks the golf course will lose $87,192 this year. Is this amenity going in the right direction?
The Laundry was a $4,846 loser. This is a minor loss compared to the above, but this cleaning facility did make a profit of $2,228 in 2005 and a $1,518 profit in 2006. The Board then decided to outsource this amenity instead of buying new appliances. The Village promptly lost $4786 in 2007 and our Board blamed a three month sewer fiasco. In 2008 it lost $5,640 and the Board blamed Hurricane Dolly. No one can deny that the sewer and hurricane had an impact on revenues, but what’s the excuse for losing $4,846 in 2009?
The 2010 budget has projected the Laundry will lose $5600 this year. Are we now saying with this amenity that losing money is now not an exception but a rule. Is our outsourced partner suffering these same losses? Is this amenity going in the right direction?
Our Rental Office showed a profit of $13,489 last year. Celebrations broke out for being in the black for the first time. During the January Board meeting a Villager asked why the Rental Office was showing such an improvement and our illustrious President couldn’t wait to tell everyone it was due to booking more rentals along with the Board's implementation of suggestions they received from a study done after Hurricane Dolly.
Has everyone forgotten that early in 2009 our Board said they added a 2008 Hurricane Dolly $38,712 loss revenue insurance check to the 2009 Rental bottom line. Take away that check and our Rental Office was a $25,223 loser, only $709 better than the previous year when Hurricane Dolly ruined the rental revenues.
The 2010 budget expects the Rental Office to lose $31,800 this year. Does one even have to ask if this amenity is going in the right direction? What do you think?
The report said Securitas saved our Village $3,000 this year and cost $13,131 less than what our Village was paying for the unlicensed gatekeepers in 2007.
Several Directors who still reside on our Board had vehemently argued Securitas, a LICENSED security company, was going to cost our Village thousands more if rehired.
In this report it also showed that our Village had paid $222,346 for Security in 2007. A footnote was attached saying this figure included a management allocation fee of $7,242, a $6,466 final billing fee from terminated Securitas, and a reference that the amount paid to Aramark as part of a new agreement (in originally replacing Securitas) was $174,250. The obvious question here is what did our Board spend an extra $34,388 on?
The 2010 Budget said Securitas will charge our Village $4,368 less this year. Is Security going in the right direction? I'll answer that. YOU BETCHA!
Villagers pay dearly for Aramark and we are told their management professionals are well trained in finding ways at saving our Village money. Our 2008 Board with all of its controversy found a way to lower our Security and Cable costs while contracting for a much better product. It can be done.
Many feel the current Board with our new General Manager are more than capable of saving some of this $195,000 the 2010 budget says we are suppose to lose in our rental office, laundry, restaurant, and golf course. What do you think?
11 comments:
re: the current Board with our new General Manager are more than capable of saving some of this $195,000 the 2010 budget says we are suppose to lose---
Well who DEVELOPED and APPROVED the budget showing a $195,000 loss for this year? Wasn't it the current Board and the new General Manager? If they made the budget showing those losses, then it seems we need someone else to come in and set things on the right track budget-wise! WAKE UP LIV, or be prepared to lose even more money year after year!
The board and manager don't need to work on saving the $195,000 loss, they made that deficit disappear by rasing the condo fees by $250,000, remember? An the LIV sheep approved it by not voting them out at the last election!
Is it any surprise the restaurant loses tens of thousands of owners' money every year? They sell a pint of beer (a PINT mind you, not a regular 12 oz) for only $1.75, just 25 cents more than the price of iced tea! What kind of idiot sells a pint for $1.75 regular price? I could understand for happy hour price, but all the time $1.75 per pint?
Boy did you hit the nail on the head. I have seen people walk away with those glasses so full they could hardly keep from spilling it. Shouldn't the waitresses be informed as to how full the glasses should be?
We are making alot of money selling beer and wine at a 1.75. Find something real to complain about.
dear beer sales critic/// the cost of a keg of beer to liv is $ 92.00 there is 112 cups of beer in a keg// 112 x 1.75 = $196.00 or a profit of $104 dollars. this is a profit of 113%. it is the best margin in the park.
112 cups of beer? What size cup? Remember, we serve 16 oz beers, not the regular 12 oz beers. A Pint for just $1.75! Do your math with a Pint of beer and not a 12 oz beer, then report your theoretical profit, which will be much less. Theoretical profit vs. actual profit, because foam, residual beer left in keg, employees drinking, etc.
And if the profit is so great, why is restaurant losing so much money? Any competent professional restaurant manager should be able to explain why their operation is losing so much money!
$92 divided by $196 = 46% F&B food and beverage cost, FOR ALCOHOL! Terrible margin for a restaurant! And that doesn't include waste, foam, cost of plastic cups (and some customers take 2 or 3 cups to share with friends). employee drinking, etc!
And have you even considered in your calculations that LIV serves Pints, not 12 oz beers?
RE: "The 2010 budget thinks the golf course will lose $87,192 this year. Is this amenity going in the right direction?"
Nope, it sure ain't going the right direction! Any idea why it's losing so much of owners' money? Are there any plans in place to reduce the loss? Has Management made ANY recommendations to the Board about how to reduce this HUGE deficit? Has Management taken any action, any action at all, or made recommendations about how to reduce ANY of the losses and the deficit? I mean, except for raising the condo fees! Exactly what are we paying for Aramark for?
OMG, We are not going in the hole with our beverages. If you want to know why the restaurant is in the hole start with all the wasted food and the way we keep books at LIV.I was under the impression that the restaurant was doing much better in the profit and loss column this year. No one seems to consider all the non money making amenities in this village like the pools,ect. They are big expenses also and not generating any income so lets let all of this rest and get to the real problems in this village.
The cost of beer is a very small part of the overall picture. Management and labor cost, utilities and food cost all need to be looked at to understand where the problems really are.
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