Meeting date of the February Quarterly meeting will be Feb. 20th, 2014, the long range planning meeting will be May 8th, 2014. To save expenses, the February Quarterly Meeting will be conducted via conference call and/or possibly Skype.
Membership Report:
Bob McCormick gave an update on membership. We have 3952 members as of October 2013. This is an increase of 17 members over the current period last year. Membership report approved.
Treasurer Report:
Matt Johnson gave the Treasurer’s report:
As of October 31, 2013:
Cash in Pioneer Bank checking account $86,736.00
Pioneer Bank Money Market $ 4,160.00
Black Hills Federal Credit Union $ 77.00
Med5 Federal Credit Union $ 25.00
Minuteman Federal Credit Union $ 25.00
Trust Account at Pioneer Bank $ 7,133.00
Cash on hand in the ATM machine, petty cash, and change funds
$11,180.00
The following are also balanced from September 30, 2013:
Certificates of Deposit $414,945.00
RBC Wealth Management Investments $250,384.00
Black Hills Federal Credit Union $120,530.00
Minuteman Federal Credit Union $121,432.00
According to the balance sheet, as of September 30, 2013:
Total assets $5,859,276.00
Total liabilities $ 455,567.00
Member’s equity $5,403,709.00
Manager’s Report:
Tim Schnabel gave the Resort Manager’s report.
Based on numbers for the financial reports ending September 30, 2013:
- Occupancy continues to increase and is currently at 7% increase over 2012 YTD. We still have much opportunity to increase to numbers comparable to 2010.
- Painting has been completed on the pool with several significant leaks being sealed.
- Two rodeos are scheduled for next year, Memorial Day weekend and August 14th-16th. Tim is in the process of putting together 2014 annual sponsorship packages.
- Many activities are scheduled for the 30th Anniversary Celebration of Hart Ranch.
- Results from the 2013 expansion survey: 23 people expressed interest. The board determined there is not enough interest to proceed with exploring expanding the park to accommodate permanent park model/rv/sites. It will be tabled and looked to in the future if the demand is there.
- Damages from the October snowstorm are relatively minimal. Several trees have been lost completely and countless branches
Old Business:
The board moved to drop the Coast to Coast Affiliation. Members will be offered a year’s free membership to RPI. All voted in favor.
New Business
- The Operating Budget as follows was presented and approved, with all voting in favor.
- The Capital Expenditure Budget in the amount of $319,580.00 was approved. All voted yes.
- A new policy, #30, Criminal background checks, which will allow Hart Ranch to perform background checks on new members, transfer of members and addition of new associate members was reviewed and discussed. All voted yes.
- A clarification of internal rules for the sales department was presented. The transfer fee will be $1000.00 if a new member purchases their membership from an outside source after participation in a Hart Ranch sales tour within a 12 month period. All voted in favor.
- The extension of the Restaurant contract between Hart Ranch and Parkway Catering was approved for the time frame of November 1, 2013 through January2, 2014. All voted in favor.
- Article 1, Section 2.c.in regards to B memberships was revised so it would read the same as A’s and P’s, as was the original intent. It now reads: “Full use of all recreational facilities; use of two RV sites; no rental rights to any rental units during peak season.” All board members votes yes.
- Also to clarify the intent of the park Article I Section II, added to the second paragraph: “The number of memberships with categories may be limited by the Board, as utilization requires. The second RV site referred to in Article I, Section 2 a., b, c, is to be used for associates or guest nights.” All voted in favor.
- Because of the needs for updates, repairs, future expansion and high demand, the board voted in favor of the rental rate for storage sites to be increased. Rates will be as of January 1, 2014, 1st storage site-$190.00 and $240.00 for each additional storage site. All voted yes.
- Resort manager Tim Schnabel was given authority to go forward with planning to sponsor the Down Home Country Music Festival which will occur from June 22-28, 2014, as part of the 30th Anniversary celebration. An addendum to the motion was added, to proceed only if the Rapid City Christian School approved this festival at their Nov. 2013 board meeting. Roll Call vote: Johnson, Hixon, Day, yes. McCormick, No.
Meeting adjourned.
