More on 2026 levy

Budget analysis

The timeshare notice shows a shortfall of more than $90K across the maintenance and capital improvement funds for 2026.

• This means the BC is collecting $90K less than what is needed for planned maintenance and upgrades

• The deficit will be covered by retained funds.
• At December 2024 (the latest accounts available), retained funds totaled $420K.
• After the budgeted deficits of roughly $45K for 2025 and $90K for 2026, the projected balance across all funds will drop to about $285K.

We cannot continue to operate with LTMP deficits of this size for long. Retained funds will soon be depleted. We are already exposed to the risk of a special levy if any unexpected maintenance issue arises.

The BCC asks: “So, can we survive?”

The short answer is yes—but the real question is "at what cost to owners?"

In OSG’s view, the current financial pressures stem from a combination of:

• historically low levies from the outset
• past committees aiming to keep levies below actual costs
• limited or ineffective use of LTMP data, leading to maintenance being delayed instead of addressed preventatively

So what can we do to get ahead of this?

• Get a better understanding of what is in our LTMP
• What are the implications of this for the next few years.

The BCC is proposing significant LTMP spending in 2026—but will this actually resolve the problem, or is it just the first step into a more challenging future?



At the 2025 AGM OSG presented a motion on the LTMP

we believe the LTMP approved by the BCC includes

• multiple errors
• understates costs
• is not being followed by the BCC

It has now been five months since the AGM, yet the committee has taken no action to establish the group that owners voted for.

Are they simply ignoring the AGM decision?

This report is supposed to be provided to all owners before the 2026 AGM. OSG feel that the committee is delaying progress to avoid addressing the issue—an approach that disregards the clear direction given by owners.