GENERAL MANAGER’S REPORT/ACTIVITY UPDATE 9/20/2018
Account Statements: All bank accounts have been reconciled for August without discrepancy.
2009 Lawsuit through 2016: 21 Lots unpaid (1.04%).
2017 Assessment Status: 1972 Lots (97.82%) paid in full.
2018 Assessment Status: 1914 Lots (94.94%) paid in full. This is 24 full payments ahead of this same time last year.
2017 Assessment Collections:
The attorney initially sent out a total of 62 notices. 6 properties are currently on payment plans, 35 properties have paid in full, and 1 property has filed bankruptcy. 20 lots remain in our active legal collection process. Those 20 properties have all received notice of default. At the workshop this week, the Board decided to proceed with the foreclosure process on 8 delinquent properties.
An overview of SVRA Financials finds the August Gross Profit at 3.5% (103.5%) better than budgeted levels and Total Expense at 3.9% lower than budget (96.1%) resulting in year-to-date Net ordinary income prior to depreciation at 118.2% of budgeted levels. The YTD cash assets (8/31/2018 Balance Sheet) Total $1,658,004.62. The summary of the financials are, as always, available on the SVRA website.
This month we have 3 active DCC&R Complaints, one complaint has just been sent the notice of violation, one complaint remains in the hands of the SVRA attorney for further action, and one has gone to court and we are looking to the court for resolution.
Since last reported we have spent a total of $70,864.49 on the Barn Redevelopment and Cedar Creek Center. Money has been spent on loan closing costs, moving the dirt from the Forest Service property to our property, and New Peak construction for insurance, tools, equipment, management, dirt work, brush clearing, Profit and overhead, fence rental, and rebar.
Fall Hours of Operation:
Cedar Creek Pool is closed for the season.
Duffer’s is now open Monday-Friday 1 p.m. to 8 p.m. and Saturday-Sunday Hours are 12p.m. to 8 p.m. If business warrants we will extend closing time at night.
Aspen Hills Hours are Monday-Friday 9 a.m. to 4p.m. and Saturday-Sunday 9 a.m. to 6 p.m.
Cedar Creek Hours are 8 a.m. to 6 p.m. 7 days a week.
Kurt and his crew have been busy getting the courses ready for winter. Cedar Creek Front Nine was closed last week; the back nine was closed this week. All 18 holes should be open and ready to play on Friday morning. Aspen Hills will be closed next week Monday through Friday (possibly only Thursday).
Ernie has been busy. He has been battling wasps and bees, giving the barn a fresh coat of paint, putting the swimming pool to bed for the winter, moving dirt, setting up for events and activities, developing a plan to install the ramp on the east side barn door, for ADA access to the barn. Access should be installed by the end of October. In the next month he will be taking the tennis courts down for the winter, and taking the fountain out of the pond on #8. The pond is low on water now, rest assured, the fish are fine. Kurt and his staff are watching levels carefully to ensure the fish are ok, and that we have enough water on the course. It is a delicate balance and one that the SVRA staff is very good at managing. In the next couple weeks, watch for water levels to rise in the pond bringing it to a sustainable level for the winter. The pond will be stocked again next year.
We have been working on the Pickleball courts this past month. Bob Lujan has played a pivotal role in the installation of this great new asset. Next week the fencing will begin, followed by the concrete. Next spring we are lined up to get the surface done. The courts should be playable next spring.
I would like to welcome Ami Pack to the full time staff at Star Valley Ranch Association. Ami and her husband live in Etna with their two young boys. Ami has already proved to be a great asset to the admin office. She is very friendly and eager to help everyone. She is ready to apply her existing knowledge, and eager to learn the ins and outs of our office. She is excited about the great things happening at SVRA. Stop by, say hi and introduce yourself.