If you have sticker on your newsletter it means that you have unallocated entitlement.
You must allocate your week prior to 31st December 2007. Call or email Anne at member services to “bank” your week/s.
Weeks do NOT automatically accumulate. Don’t lose weeks for the sake of a telephone call or email.
To save your week/s you must deposit your 2007 entitlement with one of our affiliated exchange companies.
• DAE (Dial an Exchange) www.daelive.com
• HC Direct (Holiday Concepts exchange) www.holidayconcepts.com.au (click on HC Direct button)
• Interchange Timeshare www.interchange-timeshare.com.au
• RCI www.rci.com

Remember you can book up to two years in advance.

Get in early for school holidays!
Bayview/Manly and Golden Leaf Christmas holidays 2010.
Bookings for 25/12/09 open 9.00am Thursday 27/12/07; bookings for 01/01/10 open 9.00am Wednesday 02/01/08; bookings for 08/01/10 open 9.00am Tuesday 08/01/08.

2008 Maintenance Levies

The Budget, Maintenance Fees and You

Every year the Board sits down and evaluates the proposed budget for the following year. It is prepared by our finance committee and much thought goes into its preparation. The questions asked in developing the budget are fairly simple. What was our expenditure last year and so far this year and what is the trend? What new expenditure is anticipated or can be forecast? What amount do we need to put aside into the sinking fund to pay for refurbishment/replacement of major items? What does the 5/10 year plan require?

As Board Members and Owners we are very conscious of the responsibilities placed on our shoulders. We try and run a very tight budget and have been pleasantly surprised this year to see the expenditure running within 1% of the expected amount. Furthermore we are hoping that for the first time since we took over in 1990 that we will finally trade out of the deficit we inherited. The results will only be finalized when the books are audited in the New Year but at least the signs are there that the time is not far off.

Our fees remain one of the lower in the timeshare community and we quote them upfront. You may hear of lower but look closely. Quite a few Resorts mask their actual fees by making them artificially low and then charging additional fees or levies. Now, what do we spend the money on? Unfortunately the structure of Eastcoast is such that there is a significant Management component as we need Managers at each resort plus a Central Administration to coordinate all the activities. This overhead amounts to around a third of our budget. Maintenance is the next largest commitment at around 20% with Laundry/Cleaning and Government compliance cost the next at 14% each. Rates and taxes (excluding GST) are our next burden and amount to about 11% of the finances. The provision of Utilities and Supplies round out the result
and come in at about 8%. Included in your maintenance fees but not a budget line item is the sinking fund. We place money in this fund to cover our 5/10 year plan. This fund is used to cover major costs like replacing the roof or installing the air conditioners at Golden Leaf.

While some of these costs are self evident perhaps the issue of maintenance deserves a little more attention. This year we have seen several new fridges, TVs and dishwashers as we replaced items that have worn out. We have also put new lounges in Unit 7 at Bayview and balcony furniture at Golden Leaf. Hot water Services have broken down at both Golden Leaf and Bayview resulting in them having to be replaced. All beds were replaced at Golden Leaf while and the shade sail at Bayview required some repairs following high winds. Some of the curtains at Golden Leaf have required replacement as the sun destroyed the blackout liner and more replacements are scheduled shortly. I am currently talking with some manufacturers to see if we can replace the sofa beds as they are now reaching the end of their life, a project which will likely cost about $40,000 but will be funded out of the sinking fund as part of our 5/10 year plan.

One of the reasons we are able to run a tight budget is that nearly all our weeks are sold and everyone is paying their maintenance fees on time. We would love to have all weeks paid up but for various reasons this is not always possible. I sometimes have a spare week or two available for purchase. If you would like one I suggest you contact Anne or look in the Trading Post as many of our owners use this as a means of selling their shares. If you are looking to sell your week try this method as I am unable to market the shares for you due to Government legislation. However, once you have a Buyer, contact Anne and I will then ensure all the transfer goes through smoothly.

I would like to take the opportunity at this point in time to wish you all a safe and happy holiday.

Dennis Grimes – Administration Manager

Bonus weeks

Extra “deposit” weeks available from 14/01/08

Add weeks to your exchange accounts for $210 per week. There are a limited number of weeks available for transfer into your exchange account so that you can exchange them for a holiday just as you would use your ownership entitlement. The weeks available for transfer and holidays against these special deposits will need to be booked within the next 12 months. Need more information?
Give Anne a call at your member services after the 14th January 2008 – 03 5985 6166

Jetport Security Parking

Don’t forget 10% saving on the cost of Jetport Security Parking (Melbourne Airport) if booked through
member services. You can utilise this saving any time you travel – the offer is not restricted to when you
are taking a timeshare holiday. Normal rate for 8 days $89.00 – discounted rate for Eastcoast members
and guests $80.10.

Member Services will be closed for the following

public holidays:

• Christmas Day – Tues 25/12/07
• Boxing Day – Wed 26/12/07
• New Years Day – Tues 01/01/08
• Australia Day – Mon 28/01/08