GENERAL MANAGER’S REPORT/ACTIVITY UPDATE 04/17/2025
Account Statements: All bank accounts have been reconciled for March without discrepancy.
Business Activities:
Key areas of budgeted income that are performing higher than our conservative expectations are the Recreational Use Fee for all new property owners along with our banking interest for our various accounts. At the close of March, just these two categories were up almost $11,000.00
The year-to-date financials finds that at the close of March:
- Gross Profits are slightly better than budgeted, closing at just over $1.1M or 101.94%.
- Expenses for daily operations are at $232,288.29 or under budgetary forecasts by 15.7%.
- This then makes our Net Operating Income, prior to depreciation, a total of $861,239.50 or 8.34% better than budget.
- The YTD cash assets as of the 3/21/2025 Balance Sheet total $1,524,488.70
- The summary of the financials are available on the SVRA website and detailed copies are always available by request at the Association Office. Additionally, Heather and I are available to further discuss the delineation of the banking accounts and offer further tools to aid in your understanding.
- Assessments:
2025 Assessment Status: as of 4/11/2025 1,548 accounts have been collected with 408 remaining to reach 97% collectability. The collection rate of 76.79% is ahead of this time last year.
Collections: In total our collection efforts have recovered $36,905.37 for the Association.
2024: 71.48% collected and have only 2 accounts remaining for a total of $2,396.25
2023: 60.39%
2025: We are currently looking at 32 accounts, for a total of $32,993.76, to send to collections based upon our Delinquent Assessment Operating Policy.
Foreclosures: Moving Forward with legal paperwork for Lots located in Plats 12 and 21
Facilities: The semi-annual Three Canyons lease inspection was completed without a hitch. There were two areas notated that we, as the Lessor, will repair. Prior to the heat of the summer, Ernie will be measuring and installing sunshades within the restaurant to minimize the afternoon glare.
Slated for this season Ernie will also be spearheading the completion of the Aspen Hills improvement with irrigation, landscaping and the fabrication of the Gazebos along with the siding of the Aspen Hills Pro Shop. Ernie’s 26-years of dedication to the Association is evident by his can-do attitude and his willingness to expand his responsibilities which now overlaps into the golf course grounds.
You’ll note a few extra touches outside this year with the incorporation of rocking chairs and planters decorating the lower deck overlooking #9 along with outside of the Pro Shop.
Greens Maintenance: We are so much closer to spring! For me, the barometer is always the opening of our Cedar Creek Center Driveway. A Big Thank you to Larry, Chris and Kyle for their tenacity and drive to open and prepare the courses for our member’s enjoyment. As Tony stated, the putting green will be open this coming Monday and the Greens will be mowed spiked and fertilized. Although this is an extremely busy ramp up period, I am excited to see all of our guys return and how they band together under Larry.
Golf: Season Pass holders are feeling the itch to get back on the greens as the Season Pass and Punch Card sales are up for this time of year. As a thank you for the Platinum Members, we have created an exclusive men’s and ladies hat which will be showcasing a fresh logo. The hats are currently in production and will be here at the end of May. We have also returned the Duffer’s Bucks in the form of a $20.00 Beverage Cart Punch Card. The punch cards are considered the same as cash and will be handed out one per Platinum Member.
Our Golf Pro, Nick Harding is onsite Monday-Friday 10:00-4:00 tirelessly ordering and organizing the Pro Shop for this season. Should you need assistance with your GHIN reactivation, special orders and/or club fittings, we invite you to stop on in and say hello.