From the Resident Advisory Council: May 2019

Carmen Maymi

By Carmen Maymi

Finance Liaison, Resident Advisory Council

Sound financials and excellent services are at the core of Riderwood’s success. And input from staff and residents is a big part of that success. The Resident Advisory Council (RAC), and its Finance Committee (FC), work to bridge communication among residents and management to bring better understanding of issues and concerns. Specifically, the FC works in partnership with Riderwood’s Finance Department, and its Director Mark Embley, to make residents aware of the policies and conditions of Riderwood’s finances.

These are the resident members of the 2019 RAC Finance Committee: Carmen R. Maymi, Chair; Suzan Wynne, Secretary; Diana Glockner, Carman Gannotti, Robert Phillips, Marlene Chang, John Wachtman, Guests: Pat Davis, Elenora G. Ivory.

Last year the FC and the Finance Department collaborated to publish a monthly column in the Reporter of Financial Frequently asked Q&A; produced a brochure of the Q&A for wide distribution, and co-sponsored financial seminars for residents.

This year there have been several discussions and suggestions offered by residents to identify and implement costs savings to benefit individuals’ pocketbooks as well as the Riderwood community at large. This is where the partnership of community and management can continue to produce good results. Riderwood’s volunteer organizations already provide leadership and assist Riderwood to save costs in areas such as environmental education and research, sales outreach, entertainment, and many others.

Riderwood staff is continuing to implement initiatives that reduce costs. For example, in Finance: online billing reduces costs of printing, postage and check processing. In Home Support Services and Certified Home Health, electronic medical records speed up billing and enhances communications. General Services is reducing utility consumption and implementing green energy initiatives; replacing lighting to use LEDs; replacing cooling towers; replacing make-up air units; updating infrastructure to monitor consumption, and working on a solar project.

We want to continue to hear from you and invite you to share your ideas via the RAC Box at each building’s front desk. We will review and publish results and pass suggestions to Riderwood management.

Financial F.A.Q.

What steps can I take to prepare my family or estate during the move-out process?

There are a number of proactive measures residents can take to assist their family (or their estate) during the move-out process. Our first recommendation is to obtain a copy of the “Move Out Handbook” from the Finance office. This publication includes a rich FAQ, as well as other valuable information which has helped families navigate through the process smoothly. Our second recommendation is to review your Residence and Care agreement with your family (or representative.) In particular, section 7 outlines the conditions for when your entrance deposit will be refunded, section 8 outlines when your monthly service package will stop, and section 9 outlines apartment refurbishment. Other recommendations include having the “Authorization for Entry to Living Unit” form updated, and that your “Entrance Deposit Refund” form is accurate.

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