Public Comment We want to hear from our residents. A public comment - - PowerPoint PPT Presentation

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Public Comment We want to hear from our residents. A public comment - - PowerPoint PPT Presentation

Dec 03, 2022 192 likes •441 views

Public Comment We want to hear from our residents. A public comment period precedes the start of each board meeting. Residents wanting to provide information, comments or feedback to the Board may speak for up to three (3) minutes. Please

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Public Comment

We want to hear from our residents. A public comment period precedes the start of each board meeting. Residents wanting to provide information, comments or feedback to the Board may speak for up to three (3) minutes. Please fill out a comment card and present it to Executive Director Darren

  • Shaw. The Board’s Chairperson will call

upon you when comments

  • r

questions are discussed.

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Meeting Agenda

  • Call to Order
  • Approval of June 5, 2017 Meeting Minutes
  • President’s Report
  • Treasurer’s Report
  • Executive Director’s Report
  • Unfinished Business (None)
  • New Business
  • 2016 Audit Report (Consideration)
  • Budget and Finance Committee Charter (Consideration)
  • Budget and Finance Committee Member Appointments

(Consideration)

  • August 2, 2017 Realtor Training Program (Update)
  • Strategic Plan 2020 (Update)
  • Policy Committee Report Re: Proposed Policy on the Development

and Management of Policies

  • Additional Discussion Items/Committee Reports
  • Adjournment
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SLIDE 4

Call to Order

Roll Call of Board Members

4

  • Susan Grace

President

  • Fred Green

Vice President

  • Tom Headley

Secretary

  • Mike Esparza

Treasurer

  • Don Matheson

Director

  • Elizabeth Kepuraitis Director
  • Dr. Philip Geiger

Director

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SLIDE 5

APPROVAL OF JUNE 5, 2017 MEETING MINUTES

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President’s Report Susan Grace

  • Governance Committee Report
  • DMB Re-Organization
  • Board Strategic Planning Exercise (Fall Season)
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SLIDE 7

Treasurer’s Report Mike Esparza

Second Quarter 2017

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SLIDE 8

Actual Budget Difference Actual Budget Difference Revenue: Assessments 1,683.5 1,683.3 0.2 3,366.8 3,366.7 0.1 Non-Assessments 235.7 218.3 17.4 440.8 410.0 30.8 Total Revenue 1,919.2 1,901.6 17.6 3,807.6 3,776.7 30.9 Costs: Operating Cash Costs 1,530.6 1,611.0 80.4 2,890.0 3,131.2 241.2 Reserve Funding 305.4 305.4

  • 610.9

610.9

  • 1.1

14.8 13.7 18.8 29.6 10.8 Total Costs 1,837.1 1,931.2 94.1 3,519.7 3,771.7 252.0 Net Income (Loss) 82.1 (29.6) 111.7 287.9 5.0 282.9 Quarter Ending 6 Months Ending June 30, 2017 June 30, 2017 Operating Non-Cash Costs: (Bad Debt & Depreciation)

Statement of Revenue and Expense For the Period Ending June 30, 2017 (000’s)

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3,366.8 440.8 3,366.7 410.0 3,066.3 434.8

  • 500.0

1,000.0 1,500.0 2,000.0 2,500.0 3,000.0 3,500.0 4,000.0 Assessments Non-Assessments

Revenue - Six Months Ending June 30, 2017

Actual Budget Prior Year

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2,890.0 610.9 18.8 3,131.2 610.9 29.6 2,901.5 612.0 30.5

  • 500.0

1,000.0 1,500.0 2,000.0 2,500.0 3,000.0 3,500.0 Operating Cash Costs Reserve Funding Operating Non-Cash Costs: (Bad Debt & Depreciation)

Expenses - 6 Months Ending June 30, 2017

Actual Budget Prior Year

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SLIDE 11

Balance Balance 6/30/2017 6/30/2016 Change Assets Cash 865,965 $ 576,964 $ 289,001 $ Reserve Funds - Wells Fargo 6,783,221 6,355,905 427,316 Reserves-Accrued Interest Receivable 12,623 14,129 (1,506) Accounts Receivable Accounts Receivable 54,419 51,765 2,654 Accounts Receivable - Other 2,149 17,207 (15,058) Reserve for Bad Debt (13,215) (12,922) (293) Total Accounts Receivable 43,353 56,050 (12,697) Other Assets Prepaid Insurance 75,432 62,677 12,755 Prepaid Corporate Tax 8,117 8,117

  • Prepaid Expenses

762 31,435 (30,673) Total Other Assets 84,311 102,229 (17,918) Fixed Assets Property & Equipment 315,850 461,088 (145,238) Accumulated Depreciation (248,750) (327,671) 78,921 Total Fixed Assets 67,100 133,417 (66,317) Intangible Asset - Lease Gain 8,230

  • 8,230

Total Assets 7,864,803 $ 7,238,694 $ 626,109 $

Balance Sheet – Assets

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Balance Balance 6/30/2017 6/30/2016 Change Liabilities Short Term Liabilities Accounts Payable 272,465 $ 270,350 $ 2,115 $ Prepaid Assessments 263,902 236,436 27,466 Prepaid Council Assessments 66,205 62,495 3,710 Accrued Payroll 42,824 72,665 (29,841) Insurance Payable 40,238 14,920 25,318 Other Short Term Liabilities 5,841 9,118 (3,277) 691,475 665,984 25,491 Long Term Liabilities Capital Leases 23,225 64,633 (41,408) Note Payable-Ford Focus 6,016 11,172 (5,156) Total Long Term Liabilities 29,241 75,805 (46,564) Equity Reserve Contribution 6,795,843 6,166,954 628,889 Association Equity (84,417) 62,714 (147,131) Desert Haciendas Equity 7,462 14,332 (6,870) Terrace 1.13 West Equity 12,855 23,824 (10,969) Park & Manor Equity 13,112 27,859 (14,747) Country Club Equity 31,180 40,016 (8,836) The Estates Equity 8,606 29,491 (20,885) Terrace 1.14 East Equity 4,498 11,080 (6,582) Rosewood Equity 1,320 3,795 (2,475) 2.13/2.14 Equity 14,099 2,153 11,946 Haciendas Equity 1,178 16,043 (14,865) Market St Villas Equity (20,843) (6,038) (14,805) Montelena Equity 3,183 1,063 2,120 Parks at Silverleaf Equity 9,847 61,008 (51,161) Arcadia at Silverleaf Equity (4,382) 36,082 (40,464) Horseshoe Canyon/Canyon Villas Equity 56,107 41,820 14,287 The Sterling Estates at Horseshoe Canyon 6,487 7,624 (1,137) Net Income (Loss) 287,952 (42,915) 330,867 Total Equity 7,144,087 6,496,905 647,182 Total Liabilities and Equity 7,864,803 $ 7,238,694 $ 626,109 $

Balance Sheet – Liabilities

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Six Months Ended June 30, 2017 CASH FLOWS FROM OPERATING ACTIVITIES Net income (deficit) for period ended June 30, 2017 287,952 $ Adjustments to reconcile net income (deficit) to cash provided by operating activities Depreciation 23,860 Bad debt expense (2,984) Gain on sale of capital lease (4,352) Intangible lease gain (2,831) (Increase) decrease in Accounts receivable 15,692 Prepaid expenses (38,707) Increase (decrease) in Accounts payable 38,980 Accrued payroll expenses

  • Prepaid assessments

24,725 Prepaid Community Council assessments 66,205 Intercompany payables (111,344) Other short term liabilities 35,515 NET CASH FROM OPERATING ACTIVITIES 332,711 CASH FLOWS FRON INVESTING ACTIVITIES Proceeds from sale of capital leased vehicle 13,158 CASH FLOWS FROM FINANCING ACTIVITIES Principal payments on long-term debt (2,578) Principal payments on lease obligations (21,192) NET CASH FROM FINANCING ACTIVITIES (23,770) NET INCREASE (DECREASE) IN CASH 322,099 CASH, BEGINNING OF PERIOD 543,866 CASH, END OF PERIOD 865,965 $

Statement of Cash Flows Six Months Ended June 30, 2017

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758,088 760,718 878,232 952,669 930,212 775,389 820,008 760,547 790,398 773,155 642,667 415,774 351,463 484,019 577,071 556,553 580,281 575,964 487,831 487,355 484,198 513,301 549,869 543,866 723,150 677,754 774,416 770,708 830,473 865,965

  • 200,000

400,000 600,000 800,000 1,000,000 1,200,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Cash Balance - End of Month

2015 2016 2017

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Executive Director’s Report Darren Shaw

  • City/Great Hearts Park Update
  • Desert Discovery Center Update (Desert Edge now)
  • Budget Development and Reserve Planning
  • Human Resources / Executive Admin Position
  • Review of PEO Services
  • Employment Handbook
  • Windgate Pass Sealing Project
  • Speed Device Initiative
  • Updating Community Maps (Larry)
  • NVM Meet and Greet Event (October)
  • Sub-Association Manager and Board Member Event (October)
  • Standards Review Underway (Conduct Up First)
  • Tax Exempt Status Proposal
  • DC Ranch Country Club Maintenance MOU
  • Gate Equipment Upgrades
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2016 Audit Presentation Paul Hansen, Butler Hansen Accounting Firm

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Proposed Budget & Finance Committee Charter Mike Esparza

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Proposed Budget & Finance Committee Member Appointments Mike Esparza

  • Mike Esparza – Chairperson – Board Treasurer
  • Elizabeth Kepuraitis – Board Member
  • Mike McWalters
  • David Peterson
  • John Henrickson
  • Tom Grace
  • Scott Horsley
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SLIDE 19

August 2 Realtor Training Program (Update) Terri Raimondi

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Strategic Plan 2020 Darren Shaw Principles Initiatives

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Proposed Policy on the Development & Management of Policies Tom Headley

  • Policy Committee Driven
  • Board Directive
  • Other Committee Request
  • Membership Request
  • Staff Request

Policy Origination

  • Policy Committee Drafts Policies
  • Policy Committee Reviews all Proposed Policies Before Board

Consideration

  • All Policy Committee Meetings are Open to Members

Policy Development

  • The Board is Presented with Proposed Policy at Open Meeting
  • The Board May Approve Conditionally Prior to 30-day Member

Comment Period

  • At Conclusion of 30-Day Member Comment the Board Can Formally

Approve

Policy Approval

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22

Additional Discussion Items/Committee Reports

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Announcements

  • The next board meeting is scheduled September

11, 2017 at 6 p.m. at The Homestead.

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Adjournment