BUDGETING FOR RESIDENTS IN RETIREMENT
VILLAGES
Courtesy of the Association’s auditors, Bishop Collins and David McClelland FCA an 18-page presentation on budgeting is now available on the RVRA web site. It tells you what you need to know, and what they don’t want you to know.
The publication is packed full of details that are pertinent to the annual budget debate. Remember, it is never too early to start budget discussions with your operator.
Remember, a budget is an estimate, and all estimates are built on assumptions. The Finance Committee of your village has to find out what those assumptions are.
Remember the old saying “. . . garbage in; garbage out . . .”
The RVRA has prepared a PDF presentation which you can view HERE.
Look at the document, then print it out and study it carefully. I can assure you it will be worth the time and effort.
Especially when you ask the questions on head office charges..
The Retirement Village Regulations 2009, Schedule 4 is a ‘Model proposed annual budget’. Residents’ Committees or residents should seek to have their budgets prepared based on this format however an operator of a retirement village is not required to, use the model form of proposed annual budget.
A Word document version of the ‘Model proposed annual budget’ that can be used on a computer can be downloaded and saved HERE
BUDGETING FOR RESIDENTS IN RETIREMENT VILLAGES
23 Nov 2015
BUDGETING FOR RESIDENTS IN RETIREMENT
VILLAGES
Courtesy of the Association’s auditors, Bishop Collins and David McClelland FCA an 18-page presentation on budgeting is now available on the RVRA web site. It tells you what you need to know, and what they don’t want you to know.
The publication is packed full of details that are pertinent to the annual budget debate. Remember, it is never too early to start budget discussions with your operator.
Remember, a budget is an estimate, and all estimates are built on assumptions. The Finance Committee of your village has to find out what those assumptions are.
Remember the old saying “. . . garbage in; garbage out . . .”
The RVRA has prepared a PDF presentation which you can view HERE.
Look at the document, then print it out and study it carefully. I can assure you it will be worth the time and effort.
Especially when you ask the questions on head office charges..
The Retirement Village Regulations 2009, Schedule 4 is a ‘Model proposed annual budget’. Residents’ Committees or residents should seek to have their budgets prepared based on this format however an operator of a retirement village is not required to, use the model form of proposed annual budget.
A Word document version of the ‘Model proposed annual budget’ that can be used on a computer can be downloaded and saved HERE