By Pat Davis
Director Living in Community, Riderwood Board of Directors
The year 2019 is barely half over, but work has already begun on Riderwood’s budget for 2020. Actually, it began some months ago when management reviewed results of the 2018 Resident Satisfaction Survey and developed action plans based on that information. Early results from those plans are now being evaluated in looking ahead to next year.
Members of the RAC are drawing up a list of recommendations to present to management, and Directors are drafting budgets for their departments, including Dining, General Services, Resident Life, Arbor Ridge, and others. Also this summer the National Senior Campuses (NSC) and community Board members will participate in a Budget Cycle webinar to familiarize new Directors, and remind others, of the specifics of the process.
In early September, Riderwood’s Community Relations Committee will gather for a pre-budget finalization meeting. The following month our proposed budget, and those of the other Erickson-managed communities which are governed by National Senior Campuses, will be reviewed in detail by relevant departments at Erickson Living and by management company leadership as well as by the NSC Budget and Finance Committee.
On October 23, that Committee will gather in Baltimore for a final review of all the National Senior Campuses communities’ proposed 2020 budgets and the corporate central services budget for the coming year. Following NSC approval, and before the end of the month, the budget of each individual community will be presented to its 16-member Board of Directors to request approval for the coming year. High-level results of all this work will be presented to Riderwood residents at a Town Hall meeting in early December. More information about that meeting will be publicized as the date approaches.