✨ Pricing; Costs; Finances

At my for profit CCRC in Scottsdale, AZ the annual budget process has an established timeline. In the Fall standing committees (mainly Building and Grounds) are invited to submit ideas to Resident Council for the Capital Budget. These are then rolled up to management.

Later, the Finance Committee and Resident Council meet with management to review planning assumptions for the Operating Budget. Sometimes the FC meets separately in closed session to discuss any emerging budgetary issues. All these meetings are for the purpose of explaining the assumptions going into the budget (inflation, salary actions, cost of food, etc.) They are not negotiations. Traditionally, the Operating Budget is set at breakeven with IL subsidising the Care Center (AL, SNF and MS).

By contract the fee increase has to to published by December 1 each year.

At Emerald Heights in Redmond, WA, each standing committee or activity submits a budget request to the Resident Council, which then submits these requests to the Executive Director early in the planning process. In reality, these requests have also been discussed with that committee's staff liaison and are already being considered in the budget planning by that department.

Does anyone live at a CCRC where residents are included in a meaningful way during the creation of the annual CCRC budget? If so, could you describe how residents participate? Do they sit on the budget committee? Offer feedback at the start of the planning process? Something else?