GENERAL MANAGER’S REPORT/ACTIVITY UPDATE 8/15/2019
Account Statements: All bank accounts have been reconciled for July without discrepancy.
Assessments:
2009 Lawsuit through 2016: 18 Lots unpaid (0.89%).
2017 Assessment Status: 1989 Lots (98.66%) paid in full.
2018 Assessment Status: 1968 Lots (97.61%) paid in full.
2019 Assessment Status: 1875 Lots (93.01%) paid in full.
Business Activities:
An overview of SVRA Financials finds the July Gross Profit at 104.4% of budgeted levels and Total Expense at 97.3% of budget resulting in year-to-date Net ordinary income prior to depreciation at 115.4% of budgeted levels. The YTD cash assets (7/31/2019 Balance Sheet) Total $844,919.15. 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 one property have remedied their judgement, one property has paid in full, one property is under contract to sell, and 1 property is in the process of starting an acceptable payment plan. We continue to pursue the remaining lot.
Cedar Creek Center: Since the May Board meeting we have spent $155,987.69 on the Cedar Creek Center.
Capital Campaign: A capital campaign has begun for the Cedar Creek Center. To date we have received $45,210. All funds used 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 notice to comply within 10 days or law enforcement will need to get involved. We have one additional lot that has received both the friendly reminder, and notice of compliance. We will continue to monitor the progress on this property and report the status.
Swimming Pool: The pool will remain open for open swim from noon until 6 p.m. 7 days/week until August 25th. The pool will then be closed to open swim until Friday, August 30th through September 2nd. We will have swim exercise through September 4th. After swim exercise on the 4th we will shut the pool down for the season.
We had a total of 280 children participate in swimming lessons this year. This number is down from previous years due to the school district cancelling their swim and learn program at Cedar Creek Pool.
We have had a great staff at the pool again this year. Robyn Klein has done a great job managing the pool staff this year. To date the lifeguards have recorded a total of 15 saves. In the 77 days we have been open this year we have hit capacity, 23 days (29.87% of days open). The lifeguards keep a call back list for the pool when it is at capacity. We are generally able to get everyone in the pool the day they want.
Golf: The cart path project on #10 has begun. We are excited to be working with Earl’s Concrete again on this project.
The course is in AMAZING shape, the Pro Shops still have merchandise, get out and enjoy your courses!