Amy Swan and Roger Wehrsig have listened to the members and responded to some of our concerns. On a positive note, the new revised budget shows a decrease in the proposed dues from $974 to $795 for 2017 because of a 5% reduction in operating expenses and a 1.8% increase in non-dues income of the new revised budget compared to the originally proposed 2017 budget. The new revised budget, however, still uses an inflated estimate of $2,029,778 for the pool renovation. Additionally, the new budget shows that the pool project will take two years to complete but all of the funding is charged in 2017. Since the pool project will take two years to complete, the prudent course would be to wait for a finalized bid and to budget for a pool renovation of $1,500,000 in 2017. We will have an estimated $1,242,734 in the reserve budget at the end of 2016 so we just need an additional ~$250,000 to cover this alternatively proposed $1,500,000 pool cost for 2017. By reducing the pool renovation estimate by $529,778, a substantial reduction in association dues of $176 is achieved for 2017. Therefore, a dues of $618 ($795 - $176) would cover the operating expenses for 2017 and leave $1,500,000 in the reserves to fund the pool renovation in 2017. Since the pool project will take two years, the 2018 budget could be reflected to account for the actual pool expenses from a firm bid. Also, since it is a pool improvement project and not a pool replacement project, the capital improvement fund should be used. The $126,000 in this fund could be used for the upgraded suggestions like expanded pool size and heated pool. Lastly, we still need to develop a sustainable plan for the golf course operation. In 2017, the golf course will have an estimated revenue of $2,132,465 with total costs of $2,868,678. This is a loss of 34% in one year. The loss would probably be larger if past costs of investments and depreciation were included. This is not sustainable in a time of decreasing golf participation. Additionally, most of the golf rounds are played by visitors and non-Waikoloa island residents (>60%). The Waikoloa village residents are essentially subsidizing golf for visitors and island residents. The board meeting to vote on this revised budget is TOMORROW, Tuesday, November 15th at 5:30PM in the WVA Community Room. Please attend to voice your opinion!