Association News
From The Board of Directors Our mission as the SCOV Board is to lead in maintaining and enhancing the quality of life in Sun City Oro Valley as an active adult community. All Board minutes, agendas and reports are available online and in the SCOV Library. Board meetings are open to residents.
Board of Directors howardschulzscov@gmail.com
SCOV Financial Strength by Howard Schulz During this summer, my wife and I traveled to the Midwest to be with family. I took the opportunity to investigate some HOAs that were close to where we stayed. I was very surprised as I compared their financial metrics to SCOV. Annual dues were three times higher, special assessments of $1,000 to $3,000 were yearly occurrences, and reserves to fund capital projects or to maintain common elements were small. Granted that these HOAs are newer and amenities are currently being added, their financial situation requires significant annual contributions from residents. When looking at the financial strength of SCOV, the following are key considerations: Asset Reserves: Our master documents require that a fund be established to accumulate financial resources to pay for the major repair or replacement for existing capital assets. To be considered for inclusion in the asset reserve, the item must have a useful life greater than one year and a replacement cost equal to or greater than $1,000. The asset reserve fund is a 30-year outlook for all items that meet this criteria. Annual dues support this fund which is forecast to be 74.3% ($6.35M) of fully funded by YE 2021-2022. Auditors have indicated the risk of a special assessment is low. Capital Fund: According to our master documents, these are funds for purchase, construction or major reconstruction of real property of the Association. The community voted earlier this year to spend up to $4.5M (a combination of Capital and Asset Reserve Funds) for the upgrade of the Activity Center. The Board approved the dog park expansion of $30k, and the upcoming November purchase ($664,413) for the existing solar panels. These projects will use capital fund monies without the need for a special assessment. Monies that go into the Capital Fund are AT&T lease payments, Capital Contribution Fees, Comcast Preferred Provider monies, and other Board-directed funds. In addition, SCOV results of operations for FY 2020-2021 ended with a surplus of over $180k, in a crazy year of Covid. So how is SCOV’s financial strength….in my opinion pretty good.
Association News............................ 3 Association Committees................. 7 Golf................................................ 10 On the Cover................................ 10 Photo Scrapbook..................... 12, 35 Coming Events.............................. 14 Workshops and Classes................. 14
General Manager - Mark Wade mwade@suncityorovalley.com 520-917-8080
The Glass is Half Full Fall is beginning, and with it we will welcome back those residents who have enjoyed their summer at another location. We have enjoyed a beautiful summer in which we’ve been blessed with much more rainfall than we’ve seen in many years. Charles Dickens wrote, “It was the best of times, it was the worst of times…” He could have been writing about our day. Certainly, for a time we were able to see the Covid virus peak and then calm down significantly. And now the Delta variant of Covid is coming back with a vengeance and protocols have been and are being discussed about the best way to keep our residents at SCOV safe. If it continues, I expect to see more restrictions being recommended/imposed by our federal, state, county and town. We live in times of good and bad, depending on your view. From my perspective of our community as a whole, I see a large part of us have been vaccinated. I see the moisture has helped keep the entire valley greener than in years gone by. I see the golf course and common areas are green and growing. I see fewer local forest fires. I see many residents enjoy the cooler weather. I see our finances for this past year ended up much better off than the budget predicted and this on a year of pandemic. I see many residents doing their best to keep a smile on their lips in spite of the negativity that is going on in the world. I see residents enjoying the use of the facilities and amenities. I hope that as you look at SCOV from your view that you will focus on all the good that comes from being a part of this wonderful and caring community. There are some who always will be looking at a glass half empty. I encourage you to find the good and find the glass half full. I’ll be standing right there beside you.
Join Us for Board of Director & General Manager Chat with Residents
What’s Inside
Tuesday, October 19 9-10 AM, WC1
Memoriam..................................... 15 Clubs............................................. 15 Arts, Crafts & Hobbies............... 15 Continuing Education................. 20 Cultural & Social......................... 21 Dance......................................... 26 Exercise...................................... 26
Games........................................ 27 Music.......................................... 29 Sports......................................... 29 Travel.......................................... 32 Partnered Organizations............... 32 Extended Community................... 33 Classifieds...................................... 34
Sun City Oro Valley Tipster, October 2021, Page 3
