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Florida Timeshare HOA Benchmarking Study Results Released
Orlando-based Averett Warmus Durkee Osburn Henning, CPAs (AWDOH)’s whitepaper reports on study of 100 Florida timeshare/vacation ownership resort homeowner associations over a seven-year period.
By: Sharon Drechsler, Drechsler Communications
In this, the first, major undertaking of a study of this size and scope, AWDOH’s “Financial Trending and Benchmarking of Florida Timeshares” reported on several interesting recent trends and their import for timeshare HOAs at this time. Methodology used by the AWDOH team included creating and populating a database with extensive financial and operational information drawn from 2003, 2006 and 2009 audits and factored in other variables, such as developer or management company support. Because the HOAs were strategically selected according to their geographic location, scope and size, the team was able to build a database that would provide key financial indicators to show financial trends and the overall state of the industry.
The initial presentation of the material was provided during the November 4-5, 2010 Common Interest Realty Associations (CIRA) Conference in Orlando, by Accounting and Audit Managers Ray D. Bastin, CPA and Randall Wilson, CPA, CFE, and CVA.
The firm plans to continue to track the HOAs used in this model in the future to produce trending and benchmarking on an annual basis. For more information about the project, contact Tom Durkee (tdurkee@awdoh-
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Averett Warmus Durkee Osburn Henning (AWDOH) provides timeshare/vacation ownership companies, owners associations and other clients with assurance, accounting and tax compliance services. As the largest, independent CPA firm in Central Florida, AWDOH provides consulting services to clients for business acquisitions and disposition, including recruiting and training their employees, and advising clients on ways to improve their internal processes while providing them with relevant information needed to make timely, critical decisions. For further information about AWDOH’s timeshare department, contact Tom Durkee (tdurkee@awdoh-