GENERAL MANAGER’S REPORT/ACTIVITY UPDATE 11/21/2024
Business Activities:
The year-to-date financials finds that at the close of October:
- Gross Profits remain consistent at 3.49% better than budget, closing at just over $2.1M.
- Expenses for daily operations are trending at 7.02% lower than budgetary forecasts to the tune of $102K.
- Net Operating Income, prior to depreciation, is 28.26% better than budget with a closing number of $791,638.83.
- The YTD cash assets as of the 10/31/2024 Balance Sheet total $1,585,508.86.
- The summary of the financials are available on the SVRA website and detailed copies are always available by request at the Association Office.
Banking:
The Association moved the $250K from the Fidelity Operating Money Market on November 4th. This is in keeping with our year end closing operating policy that was recently updated this past October Meeting. Over the course of 6 months the membership earned $7,199.03. This earned interest income will remain in the Fidelity to keep the account active. For the 2025 fiscal year, we will once again be transferring another $250K via a vote of the Directors in the March meeting.
Assessments:
2024 Assessment Status: As of November 20th we have collected 1924 lots or 95.44% with a remainder of 32 lots to reach our goal of 97% collectability.
As of October 28th, our 2023 collection accounts are at just over $31K or 59.26% collected. In terms of our 2024 accounts we trending just below 15% collectability.
What’s coming:
The 2025 season marks a new year to which your Directors will once again be hard at work. The Directors will reconvene this year one month early, in February, for our first Board Workshop and Meeting on February 18 and 20th. At this time, we will begin the 2025 election season as Secretary Perretta announces the election calendar.
The Directors and I have also been reviewing applications and interviewing for the Golf Pro position as our two courses have garnered quite a bit of attention with roughly 15 applicants. At the completion of tomorrow’s interviews, we will be deciding as to whom we wish to move forward with and crafting their proposed employment offer. Should our candidate also desire to call Star Valley home, we will engage in a formal onsite interview so that all parties can better ascertain the fit. Once a selection has been made and an offer accepted, we will announce the same to the membership.
Winter Recreation:
With temperatures dipping well below freezing, Ernie, Larry and our remaining team have been crafting a fantastic start to winter sports here on the Ranch. We have increased the size of our ice rink to 80’x80’ and have ordered additional hockey nets for member use. In an attempt to offer longer skating hours with the early nighttime skies, we will be placing lighting around the rink.
Cross Country and Snow Shoeing trails will be extended to include all 18 holes of the Cedar Creek Course and will have additional staking to ward off the snow machines. In terms of snow machines, we need a 2’ snowpack before traffic is allowed on the course. This is to prevent costly damages that would need repair next spring. Unfortunately, there has already been reports of side-by-side activity between holes 11 and 13. Should you see something adverse, please alert the Administration Office.
Speaking of machines on the course, you may have seen the new addition to our fleet driving on the outskirts of the course. This is strictly for snow packing to aid in the vole control. Again, we ask that no snow machines venture out until we have a 2’ snowpack.
With the upcoming holidays, I would like to remind our membership that the Administration office will be closed from Wednesday November 27th at 12:00 and will reopen Monday, December 2nd. For the Christmas and New Years holiday, the office will again be closed from Monday December 23rd through January 1st. During this time, our greens and facilities departments are still onsite to ensure all snow removal and recreation is member ready. Should you have an administrative emergency during this time, I am ever available with the Association’s cell phone close at hand. The emergency number is listed on the Contact Us page of our website and is also posted in the hallway outside the Administration office along with our bulletin board at the Post Office.