| | Submitted by Katie Sutton, Director of Administration and Human Resources, 512-948-7704, [email protected]
The Board Workshop video is available on the website under Communications > Videos (login required).
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CA Financials Financial Information as of November 30, 2015 »
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Financial Information as of December 31, 2015 »
The Community Association's Financials for November and December 2015 were presented to the Board and Ann Dodson, Director of Finance, provided a review of 2015 financials. The HOA ended the year with a $232K surplus prior to an accrual of $120K to the Capital Asset Fund and $112K to the Networking Capital Fund (pending final Board approval on February 25). Home closings for the year were 243 which was less than the budgeted amount of 300. Golf for 2015 was budgeted for a $3K surplus, but ended the year with a deficit of $405K, which the Developer will pay as a subsidy. The Finance Committee will meet on February 23 at 1 p.m. in the Activities Center to review January 2016 financials. The January financials will be posted on the website on Wednesday, February 24. Action will be taken on the November, December 2015 and January 2016 financials at the February 25 Board Meeting.
______ Golf Rates Task Forces Report Ken Morrison, Chair of the Golf Rates Task Force, presented the Board and audience with an update of their work thus far. This Task Force was commissioned by the CA Board of Directors to devise a Golf Rate Plan that meets the following objectives: - There needs to be equity in rates paid by residents. The 9-hole golfing demand needs to be met but, in a way that allows our operations to meet financial objectives.
- Develop a rate structure that encourages play at all hours to spread out rounds throughout the day.
- Manage both revenue and expenses through good business practices.
- Create incentives on a true business model to those who prepay and commit money upfront to play golf. Add potential value adds to prepaid program to encourage our golfing community to invest in our programs.
- Remove the concept of lost punches at the end of the year by exploring alternative programs.
- Develop a rate structure that faces the realities of Texas (wind, heat, etc.). Realize that all days and times are not equal and rates need to reflect that.
The Task Force is currently reviewing rate plans including a variable rate structure for tee times, range fees, trail fees, payment schedules as well as reviewing outside play and Golf Now programs. The Task Force anticipates finalizing their review by May of this year and presenting to the Board of Directors.
______ 2016 Election Timeline 2016 Election Timeline »
The Elections Committee provided the Board with the election dates and timeline for the 2016 resident director Board elections. This timeline will also be announced at the February Board Meeting.
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