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Financial Results
SCG AUGUST 2022 FINANCIAL RESULTS
More details available on suncitygrand.com>SCG Board & CAM>Financial Information
Aug-22 Aug-22 Variance YTD YTD Variance Forecast Budget Variance ASSOCIATION Actual Budget Fav/(Unfav) Actual Budget Fav/(Unfav) CY22 CY22 Fav/(Unfav)
Annual Assessments 1,297,989 1,296,862 1,128 11,662,325 11,659,599 2,726 16,962,861 16,960,135 2,726 Less: Reserve 227,640 227,640 - 3,060,500 3,060,500 - 4,100,000 4,100,000 -
Net Assessment $ 1,070,349 $ 1,069,222 1,128$ $ 8,601,825 $ 8,599,099 2,726$ 12,862,861$ 12,860,135$ 2,726$
Fitness & Activities 40,009 26,883 13,126 701,139 369,904 331,235 859,833 528,598 331,235
Grand Lifestyles Rent
8,184 6,040 2,144 76,012 67,365 8,647 100,147 91,500 8,647 23,820 28,472 (4,653) 237,457 223,798 13,660 490,952 477,292 13,660 Membership Fees 1,159 45,335 (44,176) 449,945 444,969 4,976 582,549 577,573 4,976
Recreation Revenue 73,172 106,731 (33,559) 1,464,553 1,106,035 358,518 2,033,480 1,674,962 358,518
Annual Pass Flex Pass Resident Daily Guest Public Merchandise Driving Range
Golf Revenue
125,980 126,897 (916) 1,471,672 1,446,356 25,316 2,155,775 2,130,459 25,316 - - - 235,732 208,459 27,273 342,418 315,145 27,273 83,561 91,443 (7,882) 3,344,417 3,129,896 214,521 4,392,520 4,177,999 214,521 19,775 11,075 8,700 777,840 566,814 211,026 936,300 725,274 211,026 40,495 10,000 30,495 195,663 50,000 145,663 205,663 60,000 145,663 20,440 24,873 (4,433) 593,757 550,430 43,328 780,016 736,689 43,328 5,837 9,160 (3,323) 201,687 194,121 7,566 285,466 277,900 7,566
296,088 273,447 22,641 6,820,768 6,146,075 674,693 9,098,159 8,423,466 674,693
Other Revenue
12,061 5,541 6,520 261,471 219,361 42,110 296,582 254,472 42,110 Interest Income 7,366 6,551 815 59,144 40,447 18,697 95,144 64,447 30,697
TOTAL REVENUE 1,459,037 1,461,492 (2,456) 17,207,762 16,111,017 1,096,745 24,386,227 23,277,482 1,108,745
Cost of Sales 34,034 30,400 (3,634) 827,455 636,542 (190,913) 1,055,607 864,694 (190,913) GROSS PROFIT 1,425,003 1,431,092 (6,089) 16,380,307 15,474,475 905,832 23,330,620 22,412,788 917,832
Payroll
878,692 886,711 8,019 7,081,214 7,350,544 269,330 10,759,100 11,028,430 269,330 Utilities 180,206 174,180 (6,026) 1,358,013 1,246,285 (111,727) 1,924,962 1,813,234 (111,727) Repairs & Maintenance 70,561 67,375 (3,186) 583,838 546,386 (37,452) 885,438 847,986 (37,452) Insurance 70,300 71,610 1,310 553,505 553,350 (155) 839,945 839,790 (155) Professional Fees 35,234 46,992 11,758 245,933 235,575 (10,358) 339,933 329,575 (10,358) Food / Beverage 88,857 26,804 (62,053) 354,143 159,719 (194,424) 594,143 159,719 (434,424) Landscaping 190,070 190,794 724 1,520,560 1,526,352 5,792 2,283,736 2,289,528 5,792 Operating Expense 394,761 301,386 (93,375) 3,509,178 2,966,767 (542,412) 5,914,967 5,195,148 (719,819)
TOTAL EXPENSES 1,908,680 1,765,852 (142,828) 15,206,384 14,584,978 (621,406) 23,542,223 22,503,410 (1,038,813)
SURPLUS/(DEFICIT) - Before Projects $ (483,677) $ (334,760) $ (148,917) $ 1,173,923 $ 889,497 $ 284,426 $ (211,603) $ (90,622) $ (120,981)
Fund Balance Allocation - - - 1,020,000 (1,020,000) $ 1,220,000 $ 1,220,000 -
Project Expense 70,314 - (70,314) 577,420 1,020,000 442,580 1,958,314 1,020,000 (938,314)
SURPLUS/(DEFICIT) $ (553,991) $ (334,760) $ (219,231) $ 596,503 $ 889,497 $ (292,994) $ (949,917) $ 109,378 (1,059,294)$
Total 9,473 8,605 868 148,343 137,801 10,542 202,541 192,000 10,542
Aug-22 Aug-22 Aug-22 Aug-22 Variance RESERVE FUND YIELD Balance CARE FUND YIELD Balance STAFFING Actual Budget Fav/(Unfav)
Money Market $116,047 Money Market $610,344 Full Time 169 172 (3) Investments 22,390,000 Investments 5,840,000 Part Time 113 115 (2)
TOTAL 1.50% $ 22,506,047 TOTAL 1.50% $ 6,450,344 Total 282 287 (5)
AUGUST 11, 2022
BOARD OF DIRECTORS' MEETING
The Board of Directors accepted the Consent Agenda items as submitted:
A. June 30, 2022 Board Workshop minutes
G. Appointment of Ronald Gibala as Neighborhood Representative for the Desert Oasis neighborhood
H. Appointment of Adrienne Kirschner as Neighborhood Representative for La Solana
I. Appointment of Diane Hammann as Neighborhood Representative for Carlsbad neighborhood
J. Purchase Request 22-5024-RF – Chaparral Center – Replaced Exterior Café Shade Screen in the amount not to exceed $6832 (Complete) K. Purchase Request 22-5563-R –
Grand Café Kitchen – Replaced undercounter dishwasher in the amount not to exceed $8,667 (Complete) L. Purchase Request 22-8490-RF – Cimarron Pool – Replaced two (2) chlorinator controllers in the amount not to exceed $12,735 (Complete) M.Purchase Request 22-8493-RF –
Cimarron Pool – Replaced robotic pool cleaner in the amount not to exceed $3,979 (Complete)Purchase
Request 22-007-OP – Purchase
Poa Trivialis Golf Seed in the amount not to exceed $50,000 (Complete) N. The approval of the charter and formation of the Compensation
Ad Hoc Committee Charter consisting of Board Members:
Christine Gibson and Bo Towe and
Staff Members: Rod Rankin (GM),
David Reber (Director of Finance) and Carol Murr (Human Resources
Manager) O. The dissolvement of the Compensation subcommittee of the FAC; P. The Board of Directors accepted the proposed amended purchasing policy as recommended by the
Finance Advisory Committee with the exception of increasing the
General Manager’s recommended authorization from $15,000 to $20,000 and the inclusion of the
Competitive Bid Process; n The Board of Directors approved the Proposed Golf OreBook Policy with review the 2nd quarter of 2023; n The Board of Directors approved Purchase Request 222947-RF – Desert Springs Golf Maintenance – Replace one (1) Sod cutter in the amount not to exceed $7,869; n The Board of Directors approved Purchase Request 22-005-CF- A/V Upgrade to the Mediterranean Room in the amount not to exceed $22,000; n The Board of Directors approved Purchase Request 22008-OP – HOA File Imaging Conversion on the amount not to exceed $48,000;
PRESIDENT Bob Aiken
Aiken4grand@gmail.com
VICE PRESIDENT René Mitchell
Rene4grand@gmail.com
SECRETARY Carol White
Carol4grand@gmail.com
TREASURER Alan Meyer
Grandameyer@aol.com
BOARD MEMBER Tony Spata
Tony4grand@gmail.com
BOARD MEMBER Christine Gibson
Gibson4grand@gmail.com
BOARD MEMBER Robert Towe
Towe4grand@gmail.com
BUDGET 2023 MEETING SCHEDULE
BOD Meeting Approval Thu 10/13/2022 1–4 pm Sagebrush Ballroom
Here at Grand, we believe that kind and civil interactions with fellow residents and staff greatly enhance everyone's enjoyment of our beautiful community and its many outstanding amenities and activities. Since its founding, our Grand community has adhered to our Member Code of Conduct. Please take a moment to review it. We hope you will appreciate the Association's efforts to make our environment a pleasant and welcoming place for all who live, work, and visit here.
MEMBER CODE OF CONDUCT
1. Members must conduct themselves so as not to jeopardize or interfere with the rights and privileges of other members, occupants or guests. 2. Members are responsible for the conduct of their occupants and guests, who will be held to the same standard of conduct as set forth herein for Members. 3. Members will refrain from loud, profane, indecent or abusive language. 4. Members will not harass or accost any other Member, occupant, guest, Association employee, director, officer, committee person or service provider. Physical or verbal abuse will not be tolerated. 5. Members will not compromise the safety of themselves and/or others by their actions. Members shall obey all safety rules and shall cease and desist all unsafe activity. 6. Members will be held responsible for any damage to Association property caused by the Member and/or
Member, occupants or guests. 7. Members shall not interfere with management of the Association, and/or reprimand or discipline any Association employee, or service provider. Comments and complaints are to be directed to the Association General Manager, who may require that the complaint be submitted in writing before taking action on the complaint. 8. Members are prohibited from profiting financially from their membership by charging occupants or guests for use of the Association Facilities. The Association and/or Chartered Clubs may, from time to time, enter into contracts with Members to provide products or services for an approved fee. 9. Proper dress is required in all Association Facilities in accordance with the following basic guidelines: 1. Upper body garments must be worn in all activities, except males using aquatic facilities. 2. Bathing suits are required in all aquatic facilities. No cut-offs are allowed. 3. Appropriate athletic apparel is required in athletic sport areas, which includes specific footwear and/or clothing.
DISCIPLINARY ACTIONS: Any Member who conducts him/herself in an unbecoming manner or who breaks an Association Rule or Regulation is subject to disciplinary action as per Rules and Regulations, Article III as follows: “The Declaration also provides that the Board of Directors may impose sanctions for violation of these Rules and Regulations (after notice and hearing, if required by the Declaration), including without limitation the following: n Suspension of the voting rights of a Member. n Imposition of reasonable monetary fines. n Suspension of a person's right to use any of the Association facilities. n Suspension of services to a member or to a lot. n Levying benefited assessments against an owner's lot to cover expenses incurred pursuant to section 9.8 (B) of the Declaration. f. Compliance Enforcement Procedures & Fine Policy."
