GENERAL MANAGER’S REPORT/ACTIVITY UPDATE 05/16/2024
Account Statements: All bank accounts have been reconciled for April without discrepancy. As relayed last month, the Board of Directors voted to move $250K of our Operating Account to a Fidelity Money Market. With the transfer, you will now note
on the Balance Sheet, that we have delineated the Operating Account into the two current accounts at the BOSV and Fidelity. The total of the two, $555K+ is the entire Operational Account. The bulk of our Major Maintenance Account was transferred on 5/9 to the Operating Account, thus this account is still itemized on the April reports. For those who may not have been able to join us last month, the transfer of the Major Maintenance Account was approved for the purpose of covering the construction costs of the Green Canyon Water Project. As a side note, with the accrued interest for April of $209.85 the Major Maintenance Account will remain open for us to utilize and replenish when able.
The movement of the $250K to the Fidelity Money Market yielded an interest income of $984.03 for the month of April and shows an estimated annual yield of 4.89%. Though we plan to only hold this money in the account through October, we have a potential of over $6K of interest.
Your 2 Charles Schwab CD’s totaling $100K have brought in $403.42 in monthly interest sweeps and lastly, the Equipment Replacement Program Money Market showed a 7-day yield of 4.96% and contributed to another $554.74 in interest.
We take our fiduciary responsibility to heart and are pleased that we have already surpassed our annual projection for bank interest income and the members have made $8,831.05 just through the month of April.
Assessments:
2024 Assessment Status: As of May 9th we have collected 1682 lots with 344 remaining or at 83.43 % collected. As a reminder, only members in good standing can vote in next month’s annual election. The accounts go through a final audit on June 17th to indicate the eligible voters. A member is considered in good standing when all of their assessments, past and present have been paid in full.
Business Activities:
The year to date financials finds that at the close of April:
- Gross Profits remains consistent at 2.04% better than budget.
- Areas that contributed were the Bank Interest Income, Transfer of Ownership, Barn Rentals, Fitness Room Passes, and an early surge in Season Pass sales.
- Expenses for daily operations are trending below budgetary forecasts at 93.80%
- Net Operating Income Prior to Depreciation is 8.64% better than budget with a closing number of $644,209.70.
- The YTD cash assets as of the 4/30/2024 Balance Sheet total $1,494,722.82.
- The summary of the financials are available on the SVRA website and detailed copies are always available by request at the Association Office.
Capital Campaign
Currently our Capital Campaign savings account rests at $23,602.22. The Capital Campaign is a member donation fund meant for the exclusive betterment of the Cedar Creek Center. These are not assessment dollars.
Facilities:
With the departure of Kurt, Ernie, our facilities manager has taken on the additional responsibilities of shop ordering, reel sharpening and irrigation. Ernie has been invaluable for 24 years and his can do attitude never falters.
The Pool is filling as we speak and the filtration and heaters to be turned on this weekend. The pool opens on Memorial Day weekend so get your goggles ready!
Swim Lesson Sign up will be open to Members on Monday, May 20th from 4:00-7:00p.m. at the Association Office. This is on a first-come-first-served basis. Afterwards the online registration form, posted on our website under the Events & Activities via the weekly events subsection will be activated by the instructor.
Restocking of the Fishing Pond on Aspen Hills #8 will take place next Thursday with cutthroats, tigers and browns.
The deck expansion of the Cedar Creek Center to the Driving Range will continue over the course of the next few weeks.
All buildings and facilities have been turned back on for the summer season with upgraded lighting in the Aspen Hills Pro Shop
The Aspen Hills Tennis/Pickleball court hours will mirror those of the Pro Shop and are pay-to-play. Reservation of the courts can be made via either pro shop phone number or via the Administration Office. As always the Vista Drive Courts remain at no cost.
On Saturday May 18th, the Forestry Department with our authorization will be utilizing the airstrip to practice their fire mobilization. If you pass by, you may see the use of water though no actual fires will be used in their training.
Golf Course Maintenance:
A huge thank you to Larry Tucceri, Dale Hoyt, Donnie Beavers, Alan Motzkus, Jay Averette, Jerry Earl, Mike Davis, Doug Carpenter, Shannon Rily and Kile Johnson for their unrelenting dedication to our courses. These gentlemen have gone above and beyond and rose above every challenge to ensure our transitional year goes all but unnoticed.
Aspen Hills #8 Greens were marked by voles. Sanding and Seeding will commence to repair this area.
Cedar Creek course was fertilized the first week of May.
At this time we have one piece of equipment out for repair and are looking to replace a canopy on one of our mowers.
Golf:
We are venturing towards our first tournament, Mixed Moose. This year we will host a dance, silent auction and Calcutta on Thursday evening to open the festivities. The sign up deadline is May 24th!
Junior Golf is a huge success with almost all classes sold out. The sign up form is on the Home page of our website.
We are Beta testing an online Golf Cart Sign Out Form for our Junior Players who are without an adult and driving a cart. This form, accessible via a QR code will log the players name, phone number, time of play, cart number and will take a picture of the player’s driver’s license. This information will be kept on file so that we can communicate in the event of any damage.
I want to extend my appreciation to Alan and Stephanie, for spearheading all facets of our tournaments, for outfitting our shop with such a colorful assortment of merchandise and making every player feel like a friend.