Is anyone else concerned that RCSC is running a large deficit, over $600,000 (before depreciation), for the first time in 15 years (based on November 2024 year-to-date)?
Typically, the net operating “excess” was running between $2 million and $3.3 million each year. The over $600,000 deficit is a $946,000 variance or loss compared to planned budget. Put in personal income terms, we have written checks beyond our balance and are using an overdraft system to take from savings.
In the December board meeting, one of the board members called out the management as letting this get out of hand. One of the board members admitted the board also let it get out of control and were partially responsible.
When management was questioned, they said they could still “look positive” for the year since they had interest income that would offset these losses. A board member indicated that the interest income does not make up for the deficit, as it is committed to future building renovations, such as Mountain View.
Management (general manager’s first full year) said they would meet and return suggested action plans to change the deficit condition. Why hadn’t they done that already?
In the past, management made sure they were in the positive. Depending on your interest in the future of Sun City, the current financial management is heading us off a cliff. What will they close to make up for the deficit?
Is anyone else concerned? There is an RCSC Exchange Meeting to express concerns at 9 a.m. Monday, Jan. 13 at the Sundial Recreation Center.
Editor’s note: This writer is using a pen name. Reader reactions, pro or con, are welcomed at AzOpinions@iniusa.org.
