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Financial Results
SCG JULY 2022 FINANCIAL RESULTS
ASSOCIATION Jul-22 Jul-22 Variance YTD YTD Variance Forecast Budget Variance Actual Budget Fav/(Unfav) Actual Budget Fav/(Unfav) CY22 CY22 Fav/(Unfav)
Annual Assessments 2,611,895 2,610,717 1,178 10,364,336 10,362,738 1,598 16,961,734 16,960,136 1,598 Less: Reserve Contributions 1,540,140 1,540,140 - 2,832,860 2,832,860 - 4,100,000 4,100,000 -
Net Assessment Revenue $ 1,071,755 $ 1,070,577 1,178$ $ 7,531,476 $ 7,529,878 1,598$ 12,861,734$ 12,860,135$ 1,598$
Fitness & Activities Grand Lifestyles Rent Membership Fees
Recreation Revenue
Annual Pass Flex Pass Resident Daily Guest Public Merchandise Driving Range
Golf Revenue
Other Revenue Interest Income
TOTAL REVENUE
40,861 29,064 11,797 661,130 343,021 318,110 846,707 528,598 318,110 8,331 8,036 295 67,827 61,325 6,503 98,002 91,500 6,503 25,191 21,971 3,220 213,638 195,325 18,312 495,604 477,292 18,312 97,675 47,621 50,054 448,786 399,634 49,152 626,725 577,573 49,152
172,058 106,691 65,366 1,391,381 999,304 392,077 2,067,039 1,674,962 392,077
128,067 122,399 5,668 1,345,692 1,319,460 26,232 2,156,692 2,130,459 26,232 - - - 235,732 208,459 27,273 342,418 315,145 27,273 66,366 63,637 2,729 3,260,856 3,038,453 222,403 4,400,402 4,177,999 222,403 14,120 11,832 2,288 758,065 555,739 202,326 927,600 725,274 202,326 20,935 20,000 935 155,168 40,000 115,168 175,168 60,000 115,168 18,730 24,897 (6,166) 573,317 525,557 47,760 784,449 736,689 47,760 7,509 9,212 (1,703) 195,850 184,961 10,889 288,789 277,900 10,889
255,727 251,976 3,751 6,524,680 5,872,628 652,052 9,075,518 8,423,466 652,052
11,589 8,021 3,568 249,410 213,819 35,591 290,062 254,472 35,591 11,018 5,715 5,303 51,778 33,896 17,882 96,778 64,447 32,331
1,522,146 1,442,979 79,167 15,748,725 14,649,525 1,099,200 24,391,131 23,277,482 1,113,649
Cost of Sales
GROSS PROFIT
41,299 34,926 (6,373) 793,421 606,142 (187,279) 1,051,973 864,694 (187,279)
1,480,847 1,408,054 72,794 14,955,304 14,043,383 911,921 23,339,158 22,412,788 926,370
Payroll Utilities Repairs & Maintenance Insurance Professional Fees Food / Beverage Landscaping Operating Expense
TOTAL EXPENSES
851,468 919,052 67,584 6,202,522 6,463,833 261,311 10,767,119 11,028,430 261,311 209,771 216,040 6,269 1,177,807 1,072,105 (105,702) 1,918,936 1,813,234 (105,702) 85,914 78,836 (7,078) 513,277 479,011 (34,266) 882,252 847,986 (34,266) 70,300 71,610 1,310 483,205 481,740 (1,465) 841,255 839,790 (1,465) 34,703 56,134 21,431 210,699 188,583 (22,116) 351,691 329,575 (22,116) 51,143 31,648 (19,495) 265,286 132,915 (132,371) 565,286 159,719 (405,567) 190,070 190,794 724 1,330,490 1,335,558 5,068 2,284,460 2,289,528 5,068 563,743 415,456 (148,287) 3,114,417 2,665,380 (449,037) 5,823,444 5,195,148 (628,296)
2,057,110 1,979,570 (77,540) 13,297,704 12,819,126 (478,578) 23,434,443 22,503,410 (931,032)
SURPLUS/(DEFICIT) - Before Projects $ (576,263) $ (571,517) $ (4,746) $ 1,657,601 $ 1,224,257 $ 433,343 $ (95,285) $ (90,622) $ (4,663)
Fund Balance Allocation
Project Expense
SURPLUS/(DEFICIT)
ROUNDS
800,000 - 1,020,000 (1,020,000) $ 1,220,000 $ 1,220,000 -
262,025 800,000 537,975 507,106 1,020,000 512,894 1,888,000 1,020,000 (868,000)
$ (838,288) $ (571,517) $ (266,771) $ 1,150,495 $ 1,224,257 $ (73,763) $ (763,285) $ 109,378 $ (872,662)
7,730 7,373 358 138,870 129,196 9,674 201,673 192,000 9,674
Jul-22 Jul-22 May-22 May-22 Variance RESERVE FUND YIELD Balance CARE FUND YIELD Balance STAFFING Actual Budget Fav/(Unfav)
Money Market $1,793,935 Money Market $853,105 Full Time 167 172 (5) Investments 19,450,000 Investments 3,900,000 Part Time 112 115 (3)
TOTAL 0.80% $ 21,243,935 TOTAL 0.80% $ 4,753,105 Total 279 287 (8)
JUNE 30, 2022
SPECIAL BOARD OF DIRECTORS' MEETING
n The Board of Directors approved the Long-Range
Planning and Financial
Advisory Committees’ new members as a result of the
“Special Call for Candidates”: FAC – Paul Heying (2-year term); LRP – Dennis O’Dell (2-year term) and Nancy Quinlisk and
Bill Tierney (1-year tern each);
n The Board of Directors approved the renter fee increase, to be effective July 1, 2022, one-to-three month lease - $200 per card, fourto-six month lease - $300 per card, and seven-totwelve month lease- $500 per card.
JULY 14, 2022
BOARD OF DIRECTORS' MEETING
The Board of directors accepted the Consent Agenda items as submitted: 1. May 26, 2022 Board Workshop minutes 2. June 9, 2022 Special Board
Meeting minutes and resolutions 3. Resignation of Sue O’Dea as
Neighborhood Representative for the Carlsbad Neighborhood 4. Appointment of Irv Reinke as
Neighborhood Representative for
Granite Falls I neighborhood 5. Appointment of Marilyn (Dovey)
Kasen as Neighborhood Representative for the Sierra neighborhood. 6. Acceptance of the revised FAC
Charter as submitted 7. Appointment of Jane Barry to the Reserve Subcommittee of the
FAC 8. Acceptance of the Concordance
Committee Charter as submitted 9. Replacement of both fertigation pumps at Granite Falls North and South for a total cost of $34,000. (Complete) 10.Purchase Request 22-8300-RF
Cimarron Day Spa – Replace lobby flooring in the amount of $6,721; n The Board of Directors approved Draft Version 1.3, dated July 6, 2022, of the revised Sun City Grand Residential Design Guidelines, inclusive of all corrections and mutually agreedupon changes that occurred during-and subsequent to the three Workshops at which it was reviewed by the Board, and the Special ARC Meeting that occurred July 5, 2022; n The Board of Directors accepted the proposed Fitness Center Dress Code Changes and Flotation Device Permissions as submitted; n The Board of Directors approved adding as Bord Policy: G.E.T. Policy – Neutrality of Board at time of elections: “Board of Directors must maintain neutrality during Board Election
Campaign timeframe: n The Board of Directors approved Purchase Request 22-8356-8358-RF – Cimarron Center – Refurbish
Men’s Sauna in the amount not to exceed $57,000; n The Board of Directors approved Purchase Request 22-8104-8106-8110-81128162-RF – Cimarron Center – Interior Refurbishment in the amount not to exceed $350,000; n The Board of Directors approved Purchase Request 22-2348-4273-7172-8130-
RF – Replace (7) ADA
Door Operators in various locations in the amount not to exceed $32,441.
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
Budget 2023 Meeting Reserves ........ Wed 09/07/2022 ........ 1–4 pm.......Mediterranean Room Budget 2023 Meeting Reserves ........ Fri 09/09/2022............. 1–4 pm.......Mediterranean Room Budget 2023 Meeting GAC ............... Tue 09/13/2022........... 1–4 pm.......Mediterranean Room Budget 2023 Meeting GAC ............... Wed 09/14/2022 ........ 1–4 pm.......Mediterranean Room Budget 2023 Meeting FAC................. Wed 09/21/2022 ........ 1–4 pm.......Mediterranean Room Budget 2023 Meeting FAC................. Fri 09/23/2022............. 1–4 pm.......Mediterranean Room Budget 2023 Meeting BOD................ Mon 09/26/2022 ........ 1–4 pm.......Mediterranean Room Budget 2023 Meeting BOD................ Tue 09/27/2022........... 1–4 pm.......Mediterranean Room Budget 2023 Meeting BOD................ Wed 09/28/2022 ........ 1–4 pm.......Mediterranean Room BOD Meeting Approval ..................... Thu 10/13/2022........... 1–4 pm.......Sagebrush Ballroom
BOARD PRESIDENT MONTHLY UPDATES
BOARD GOALS—AN UPDATE
Bob Aiken
President Sun City Grand Board of Directors
This past May, the Board of Directors introduced their top five goals. I want to share some of the successes supporting those goals. These updates will provide you an idea of how we are doing and what may be needed to finish them. Each goal is important to the successful growth and future of Grand. THE “TOP FIVE”
1. Engage Project Management
Discipline: It became apparent that we needed to hire a Project Management
Team of qualified professionals to lead in the completion of work on the Falls
Restaurant and lead in the planning and execution of future major projects. • UPDATE: n Hired Rider Levett Bucknall (RLB), a project management company. n RLB is leading coordination of completion of The Falls by early 2023. n RLB is developing a Progress Chart from which staff may update a Falls
“Scorecard” for timely review by residents. n RLB is creating a template to be used with all projects to insure consistency and inclusion of all necessary items. n RLB is creating a “Statement of Work” supporting planning elements for the
Desert Springs Restaurant and Golf
Facilities.
2. Successfully Launch The Falls
Restaurant: Easily our top priority as timing and costs have been very challenging for all involved.
• UPDATE: n RLB assigned as Project Manager and is conducting weekly meetings with contractors, our food and beverage partner Unidine, and Grand staff. n RLB creating a comprehensive launch plan for the Falls including construction, food services, and marketing plans.
3. Gain Alignment of Priorities of Future
Projects: Balancing available resources and future needs of the community can be challenging. It is imperative that the
Board provides staff and the community a prioritized list of those planned projects, so a successful outcome is achievable. • UPDATE: n Board discussion and alignment of the
Project Priority List occurred at the
June Board Workshop. n RLB feedback of the schedule of the
Project Priority List due in August. n Management of the Project Priority List transferred back to the Long-Range
Planning Committee (LRP) which will provide quarterly updates to the Board of Directors.
4. Accelerate our Water Management
Plan: As the “Mega Drought” continues, the State of Arizona is preparing to demand dramatic actions to enable our State to conserve water. It may be a matter of months before we are told to begin removing all ornamental turf grass not used for parks, golf courses, or athletic fields. • UPDATE: n Educational series covering water conservation provided monthly through News of the Day and posted on our website. n Initiated removal of turf grass and
replaced it with granite and shrubs near Poker and Glass Arts building to provide residents small samples of what to expect following turf removal. n Planning conversion of turf grass to artificial grass on corners of
Remington/Sunrise and Clearwater/
Sunrise to show residents results of using artificial turf as replacement. n Conducted a water loss survey for the
Village Center fountain. Confirmed that the fountain needs to be removed and steps are being taken to reroute water for sustainability of the remaining water feature.
5. Increase Transparency and Focus on
Culture: Two years of Covid restrictions has empowered us to improve the opportunity for interaction between Board
Members and our fellow residents. • UPDATE: n Initiated Board “hybrid” (in-person and/or Zoom) meetings including videotaping of each meeting for residents’ convenience. n “Meet the Board” reception on May 19th was a huge success. n Mediterranean Room in Palm Center is being transformed to a “Zoom
Room” for hybrid (in-person and/or
Zoom) meetings. Completion date targeted for mid-September allowing all residents to watch and take part in the budget meetings scheduled in
September and October. n Published the list of proposed Board interactions with residents in the July
Lifestyles. We have agreed on the following five:
