HART RANCH RESORT
WORKSHOP & BOARD MEETING
TUESDAY, FEBRUARY 10, 2015
Meeting was called to order by President Karen Ripperda at 2PM. All board members were present by conference call. The resort manager and several members were in attendance at the resort. The agenda was approved. The workshop minutes of October 31, 2014, were also approved.
Treasurer Report:
Vikki Day gave the Treasurer’s report:
As of December 31, 2014:
- Cash in the Pioneer Bank checking account
$77,296.00 - Pioneer Bank Money Market
$287,625.00 - Black Hills Federal Credit Union
$77.00 - Med5 Federal Credit Union
$25.00 - Pioneer Bank Expansion Money Market
$ 1,501.00 - Trust Account at Pioneer Bank
$ 18,704.00 - Cash on hand in the ATM machine, petty cash, and change funds
$6,340.00
The following are also balances from December 31, 2014:
- Certificates of Deposit
$353,314.00 - RBC Wealth Management Investments
$133,309.00 - Community Bank
$253,652.00 - Black Hills Federal Credit Union
$117,984.00 - State Farm Bank (2015 capital improvements)
$202,550.00 - Synchrony Bank
$247,586.00
According to the balance sheet, as of December 31, 2014:
- Total assets
$6,272,825.00 - Total liabilities
$1,160,215.00 - Member’s equity
$5,112,610.00
Treasurer’s report was approved.
Membership report:
Bob McCormick gave an update on membership. As of January 31st, we have the following:
1483 – P, 663 – A, 1729 – B, 55 – C, 35 – W, 5 – Other. Total of 3970 active memberships.
Resort manager’s report
Tim Schnabel gave the Resort Manager’s report.
- Revenues were up by over $200,000 from 2013 and expenses were up by over $300,000, due to payroll, utilities, marketing and festival and rodeos fees. Audited financials will be available at a later date once complete.
- Update on finances for the coming rodeo and Down Home Music Festival. To date we are at $84,670 in sponsorships with $14,500 being trade outs with advertisers or suppliers. We still have several more sponsors that Tim is working on. Estimated expenses for these events will be around $60,000.
Maintenance updates were as follows:
- Siding in Cheyennes/Colt II’s need to be addressed as moisture is coming from inside out due to not being wrapped with Tyvek properly when constructed.
- Comfort station showers need to be painted or replaced. While painting of the comfort station is occurring now, the showers will be addressed at the long range planning meeting on May 20th. Tim will provide an estimate based on tiling the showers.
- Flooring in 2 Colt II cabins were replaced as well as Breckenridge 446. Still need to do at least one more Eagle and one more Breckenridge.
Sales & Marketing updates:
- The board approved to give away 100 W memberships to RV dealers for 2015 as promotional opportunities.
- Also, as discussed at the last meeting, the sales stays will be $89.95.
- The Referral Program will continue with $50 paid for the first referral, $100 for the second and 2016 Maintenance Fees paid for the 3rd These are based on purchases made through Hart Ranch’s sales department.
Activity updates were as follows:
- New additions will be 9 hole, par 3 pasture golf course
- History center
- More craft shows
- ZVH (Zombies vs Humans) event w/SDSM&T
- Greater variety of entertainment
- Promotion of bicycle safety classes in conjunction with security for kids and adults.
- Activities are listed on the Hart Ranch Website and will be continuously updated. This will serve as a key source of information on what is occurring at the resort this summer.
OLD BUSINESS:
New indoor storage units will be delivered in February and installed. The goal is to have them available to rent by March 1st.
2) We currently have 868 storage sites with 9 available.
3) The board approved Tim to spend $500 for an engineer to inspect the meadow land sites for possible sewer. Also, take a look at the tent area for possible RV sites.
4) Parkway Catering will again operate the restaurant through the summer of 2015.
5) Tim is currently working on missing building permits for cabins dating back over 10 years. Attorney will be hired to determine the best course of action on how to address this with the county.
NEW BUSINESS:
- The board approved that no cabin under the Family Reunion Policy can be rented for longer than 7 days.
- The board voted down a local doctor’s request to buy/build a cabin to operate a medical clinic.
- The auction for 2015 will be Saturday, May 9th. Paul and Tim will be working together to contact members whose units are getting “dated” in the storage yard. It will be encouraged and offered to sell these units at the consignment auction.
- The board approved no guest nights during the 2015 Sturgis Rally. Further discussion on additional dry camping sites and tent camping sites for the Sturgis Rally was tabled until the Annual meeting. Resort management will enforce the cancellation policy. If a member fails to show up by 7am the day following the scheduled arrival day, the reservation will be cancelled and no refund will be granted.
- The 9 days out policy was discussed at length. Due to increasing occupancy rates, this will be more rigidly enforced throughout the 2015 peak season.
- The board approved to allow Resort management the authority, as stated in the By-laws, to monitor and control the site inventory to most effectively manage the higher occupancy numbers. As such, members may still request sites, but no guarantee will be made that all requests will be honored. Quite frequently, one or two adjustments to reservations allow for less frequent moving, more efficient utilization of the inventory and overall more safety for the resort as fewer people are moving around the property.
- The board approved Wellmark Blue Cross Blue Shield’s Premium only Health Insurance plan for full-time resort employees.
There are 4 candidates to fill 2 positions on the board. Bios and ballots will be mailed out by the end of the month.
Motion was made and seconded to adjourn the meeting.
