GENERAL MANAGER’S REPORT/ACTIVITY UPDATE 09/17/2020
Account Statements: All bank accounts have been reconciled for August without discrepancy.
Assessments:
2009 Lawsuit through 2016: 12 Lots unpaid (0.60%).
2017 Assessment Status: 1997 Lots (99.06%) paid in full.
2018 Assessment Status: 1989 Lots (98.66%) paid in full.
2019 Assessment Status: 1978 Lots (98.12%) paid in full.
2020 Assessment Status: 1912 Lots (94.84%) paid in full.
Business Activities:
An overview of SVRA Financials finds the August Gross Profit 7.2% above budgeted levels and Total Expense 7.1% below budget resulting in year-to-date Net ordinary income prior to depreciation at 40.5% ($161,201.78) better than budgeted levels. The YTD cash assets (8/31/2020 Balance Sheet) Total $957,071.90. The summary of the financials are, as always, available on the SVRA website.
Capital Campaign: The capital campaign continues for the Cedar Creek Center. To date we have received $115,389.08. Capital Campaign Funds spent to date total $103,799.38. Funds have been spent on office furniture, landscaping, televisions, and restaurant and bar furniture & glassware, dinnerware, etc., deck furniture, pro shop equipment and furniture, donation wall recognition plaques, media center equipment and furniture, internet upgrades, and security system. All funds spent from this account are reported at Board meetings.
Cedar Creek Center: New Peak Construction, the project management company responsible for constructing our new facility, has been paid their final payment.
DCC&R Compliance: Our attorney continues to work on our legal options with our two long outstanding DCC&R violations. Since the last meeting we have also had a few new complaints. One complaint regarding a duck has been resolved. There is an additional complaint on a lot with a lot of rubbish on the property. We also have a complaint regarding a possible home based business and signs indicating such.
COVID-19: The safety of our members, staff, & guests is of the utmost importance to us. In accordance with the Wyoming Governor’s current orders, we are asking that there are no gatherings larger than 50 people, except for special events with additional safety precautions. The current orders are valid through September 30th, at which time; we will continue to follow the state orders.
Swimming Pool: The pool is closed for the summer.
Golf: Aeration has started at Star Valley Ranch Association courses. Aspen Hills was closed September 1-3, The front 9 of Cedar Creek was completed today. The back 9 will be completed September 22-24. Kurt is working with smaller tines to allow for normal conditions sooner than usual.
As of September 15th … Golf Income is $141,810.41 better than last year. Golf Expense is slightly higher at $8,665.35. Rounds are also up. We are up a total of 3,130 rounds, of which 2,093 are daily play paid rounds. Merchandise income is up a little over $26,000.00. Season Passes are up a little over $10,000. It seems our little piece of paradise is making a name for itself.
All event credits expire November 1st. Use ‘Em or Lose ‘Em. There is still time, get out and enjoy your courses!
House and Entertainment: Since the last meeting we have had two paint nights with Jumpin’ Jaybird studio. The first night was August 31st held in the barn. The second night was September 14th, it was hosted by Three Canyons Restaurant/Duffer’s Lounge.
Due to Covid-19 we will not be holding our annual trunk or treat. We will be doing a haunted feature, unless local and state orders prevent us from doing it. It will be outdoors, so that we can keep everyone as safe as possible. We will reveal the location a couple days ahead of time. Watch our email, marquee, Instagram, and Facebook for any updates.