Judy Mayfield, President of the Association of the Residents of Queensland Retirement Villages (ARQRV), lives In a Palm Lake Resort retirement village. She reports her village's budget has increased this year for the first time in eight or nine years.
“It’s up $10 but we have residents with financial acumen and they were able to talk to the Village Managers to understand why and it was related back to us and we have no problem with it,” Judy said.
“However, we know a number of residents’ committees do not have that financial knowledge needed to deal with Budgets and we have said that it is a good thing if the committees find someone or some people in their village with the financial background who can form a financial advisory panel.
“The financial advisory panel can then look at the Budget with the operator themselves and then inform the residents’ committee about it and what course of action they recommend.
“We were told about the energy price rises and the operator prepared a really transparent budget that explained it clearly.”
The SOURCE: Anyone resident with a financial background is invaluable to all residents committee.
