GENERAL MANAGER’S REPORT/ACTIVITY UPDATE 8/17/2017
Account Statements: All bank accounts have been reconciled for July without discrepancy.
2009 Lawsuit through 2016: 66 Lots unpaid (3.27%).
2017 Assessment Status: 1853 Lots (91.91%) paid in full.
Business Activities: The monthly transfers for the allocations of Annual Assessments transferred from the Operations Checking account in July are:
- The transfer for Barn/Silo Redevelopment into the Restricted Account was as follows:
2012 – $44.09 (0 lots x $44.09 for each assessment paid)
2013 – $40.00 (0 lots x $40.00 for each assessment paid)
2014 – $40.00 (0 lots x $40.00 for each assessment paid) Total = $0.00
The account balance as of 7/31/2017 is $143,428.20 which includes accumulated interest, minus any approved expenses.
- The monthly transfers for the Major Maintenance Reserve Account in July are:
2015 – $0 (0 lots X $21.88 for each assessment paid)
2016 – $25.28 (2 lots x $12.64 for each assessment paid)
2017 – $116.10 (30 Lots x $3.87) Total = $141.38
The account balance as of 7/31/2017 is $39,134.61 which includes accumulated interest minus any approved expenses.
Opening the additional account for SVRA future needs will be completed this month. Once the account setup is complete the funds allocated per each assessment will be reported as are the above accounts. The running balance, as of 7/31/2017, of the future transfer is $22,745.24. These funds currently remain in our operating account. The balance is calculated using the following figures:
2016 End of Year Reconciliation Allocation – $88,625.24
1853 Assessments collected @ $40.00/lot as of 7/31/2017 – $74,120.00
Total of transfers to Future Needs: $162,745.24
Future Needs Funds allocated to use in 2017 (as of 7/31/2017): $140,000.00
Balance of Account: $22,745.24
An overview of SVRA Financials finds that July Gross Profit slightly above budgeted levels (2.2%) and Total Expense slightly below budgeted levels (.7%) resulting in year-to-date Net ordinary income prior to depreciation at 104.4% of budgeted levels. The YTD cash assets (7/31/2017 Balance Sheet) Total $1,686,716.61. The summary of the financials are, as always, available on the SVRA website.
Gene Root continues to take on our DCC&R Compliance responsibilities. Gene has followed two complaints through the 2nd Violation (Notice of Violation). Those complaints have been turned over to our attorney for further collection. He has also sent out a Notice of Violation to another member. Gene processes DCC&R complaints based on complaints turned into the Association by members.
Marketing: Last week a drone was brought in and many videos and still shots were captured. This is in effort to better market our courses and facilities. Within the last couple years, drone photography has been one of the golf industry’s most significant and exciting developments. When editing is complete we will post the images and video on our website, Facebook page and send out in our weekly email.
Budget 2018: The 2018 budget creation will begin in September; members with suggestions and budget requests are encouraged to communicate with the respective standing committee chairpersons or myself by 9/30/2017.
Eclipse Closures: For the Eclipse on Monday we will be closing several departments and delaying the opening time of others so that our employees will have the chance to be a part of/witness this once in a lifetime experience. Those closed on Monday include, Facilities Department, SVRA Admin Office, Aspen Hills Pro Shop, and Golf Course Maintenance. Cedar Creek will delay their opening until 12:00 p.m. (noon). Duffer’s will open at 11:30 a.m.
Cedar Creek Grill: Allison Kallgren has reopened the grill. The hours of operation are 11 a.m. – 8 p.m. 7 days/week. She has kept the same phone number 307-883-4745. Menus are available at the back of the room for your information. Allison has revamped the previous menu and lowered the prices on many items. Cedar Creek Grill is offering di ne in, catering, special orders, and to go orders.
I would like to thank Kathy Moore for her almost 2 years of hard work & dedication. Kathy, her husband Michael, her dog Teton, and cat Gus will be traveling south for the winter. She has been a great help always jumping in and being the happy, friendly face of the Association. I think I speak for all of us when I say Thank you Kathy!