GENERAL MANAGER’S REPORT/ACTIVITY UPDATE 9/19/2019
Account Statements: All bank accounts have been reconciled for August without discrepancy.
2009 Lawsuit through 2016: 17 Lots unpaid (0.84%).
2017 Assessment Status: 1990 Lots (98.71%) paid in full.
2018 Assessment Status: 1973 Lots (97.87%) paid in full.
2019 Assessment Status: 1901 Lots (94.30%) paid in full.
An overview of SVRA Financials finds the August Gross Profit at 1.3% above budgeted levels and Total Expense at 1.3% below budget resulting in year-to-date Net ordinary income prior to depreciation at 105.8% of budgeted levels. The YTD cash assets (8/31/2019 Balance Sheet) Total $814,970.68. The summary of the financials are, as always, available on the SVRA website.
Our attorney has sent out notices of intent to foreclose on 5 properties that are severely past due. The SVRA attorney has started the foreclosure process on these lots. Since beginning the foreclosure process two properties have paid in full, and 1 property is in the process of starting an acceptable payment plan and one lot has started an acceptable payment plan. We continue to pursue the remaining lot.
Cedar Creek Center: Since the August Board meeting we have spent $203,362.18 of loan funds on the Cedar Creek Center.
Capital Campaign: A capital campaign has begun for the Cedar Creek Center. To date we have received $74,710.00. All funds spent from this account will be reported on at a Board meeting.
Family/Individual donations of $500.00 or more will be recognized on the “Valley of Stars” wall inside the Cedar Creek Center. Business/Corporate sponsors will also be recognized for donations of $1,000.00 or more. If you are interested in making a donation contact the SVRA admin office or George Toolson (307) 883-7717.
DCC&R Compliance: We currently have 3 lots we are in the process of bringing compliant. 2 lots have been sent letters from our attorney indicating that they have 20 days to comply or we will file with the court. The property owners will then have to provide to the court why they should not be held in contempt. We have one additional lot that has received both the friendly reminder, and notice of compliance. This owner has asked for an extension to clean up. The extension granted was the end of September.
Fall Hours of Operation:
Cedar Creek Swimming Pool-Closed for the season
Cedar Creek Pro Shop – Beginning September 30th, hours will be 9 a.m. – 5 p.m.
Aspen Hills Pro Shop – Beginning September 30th, hours will be 9 a.m. – 4 p.m.
Duffer’s – 12 p.m. – 8 p.m. Final date of the season will be September 28th. The blowout sale will be September 30th at 1 p.m.
Admin Office Changes:
There have been some changes to the admin staffing this past month. Heather Bigelow rejoined SVRA in June as our member services coordinator. Heather and her husband, Ernie (some of you may know him) live in Auburn, but own property on the Ranch. They have a daughter Samantha.
When Mariel left the book keeping position Heather expressed interest in the bookkepping position, and has seamlessly filled the vacancy. I appreciate her willingness to do whatever SVRA needs from her, and excel!
Two weeks ago Trish Smith joined the SVRA team as the Member Services Coordinator. Trish and her husband live in Fairview where they have raised their 5 children. Many of you know Trish’s daughters, Amber and Liz and her son-in-law, Ryan. Trish has already proved to be a great asset to our office. She is very friendly and eager to help. She also a love for marketing which should prove a positive impact in the years to come.
These two complete the great team of full time, year round employees we have at Star Valley Ranch Association.