Hart Ranch Quarterly Board Meeting
Saturday, August 23, 2012
Meeting was called to order by President Karen Ripperda at 10 AM. All the board members were present.
The meeting started with the Pledge of Allegiance and approval of the agenda.
The workshop minutes were read by Secretary Kathy Payne and approved.
Board Treasurer’s Report by Vikki Day as of July 31, 2014:
Pioneer Bank checking account $ 35,496
Pioneer Bank Money Market $ 126,208
BH Federal Credit Union $ 77
Med5 Federal Credit Union $ 25
Minuteman Federal Credit Union $ 25
Trust Account at Pioneer Bank $ 15,468
ATM machine, petty cash, and change funds $ 13,485
Also: Certificates of Deposit $ 430,601
RBC Wealth Management Investments $ 189,194
Community Bank $ 243,657
BH Federal Credit Union $ 120,796
Minuteman Federal Credit Union $ 121,432
Total Assets were $5,879,632
Liabilities were $ 671,419
Member’s Equity was $5,208,213
Membership Report by Bob McCormick: Report as of July 31, 2014
Total 3,974
P=1,484
A=662
B=1,741
W=25
C=57
Other=5
RESORT MANAGER’S REPORT by Tim Schnabel:
Following is a report of the financials based on month ending July 31st, 2014:
| July 31, 2013 | July 31, 2014 | July 31, 2014 | |
| Actual | Actual | Budget | |
| Total Revenue | $ 1,559,430.00 | $ 1,728,900.00 | $ 1,861,343.00 |
| Cost of Goods Sold | $ 134,032.00 | $ 178,173.00 | $ 180,884.00 |
| Gross Profit | $ 1,425,398.00 | $ 1,550,727.00 | $ 1,680,459.00 |
| Operating Expenses | $ 1,221,838.00 | $ 1,481,921.00 | $ 1,430,530.00 |
| Operating Income | $ 203,560.00 | $ 68,806.00 | $ 249,929.00 |
| Other Income | $ 5,993.00 | $ 9,848.00 | $ 7,000.00 |
| Other Expenses (including Depreciation) | $ 317,688.00 | $ 253,548.00 | $ 274,393.00 |
| Net Income (Loss) | $ (108,135.00) | $ (174,894.00) | $ (17,464.00) |
While gross revenues were up significantly over 2013, we were short on projections primarily due to budget expectations of greater sponsorship for events. Even though we were able to generate close to $60,000 in sponsorships both in cash and trade-outs, we fell about $40,000 short of our goal. That number, combined with an increase in payroll attributed to hiring quality and experienced staff as opposed to sub-contracting were primary reasons for the shortfall.
On a positive note, our sales numbers for memberships were over $170,000 as compared to $135,000 last year and a budgeted goal of $172,000. We have adopted a sales strategy of selling resale memberships as “Basic” memberships and new memberships as “Deluxe”. The primary difference is new memberships include RPI.
Occupancy numbers continue to remain steady over 2013 with 40,228 occupied nights (includes both sites and cabins) versus 37,688 through the end of July. Current August projections remain steady over last year as well. Through analyzing weekday versus weekend occupancies, we feel we have additional opportunities to increase occupancy during the week, especially during shoulder seasons and early June. Rallies will be heavily marketed to fill this void.
There are numerous projects that we will be undertaking during the off-season including the following:
- Completion of remodeling the back hallway at the lodge
- Repairing stained/rotten siding on several Colt II cabins
- Stain/paint exterior of the restaurant
- Stain/paint numerous cabin decks and steps
- Level the Eagle cabins
- Complete repairs in the Breckenridge’s including wallpaper border, holes in walls and replacing several sliding entry doors with a more efficient patio door.
- Addressing cracks in basketball/tennis courts
- Filling cracks on North Hart to eliminate the “speed dips”
- Attempting to remove the stains from the bricks on the exterior walls of the Pavilion
- Stain playground equipment and bridge in wedding area
- Painting missing numbers on sites
- Repairing garbage can surrounds
In addition, we will begin the shutdown process for much of the resort throughout September and into October. We will also be addressing winterizing for sites and cabins that will be open throughout the winter.
As we introduced many new activities in 2014, we will be reviewing what was successful and what wasn’t—including entertainment. Our goal is to continue to provide a wide variety of additional activities for everyone—from kids to grandparents and everyone in between. Some of the events that we have had positive reviews (and income) include the community garden, horsemanship lessons, paintball, golf cart rentals and weddings. We will continue next year with the themed weekends although some may be modified to include more weekday events as well.
Old Business:
The Board has set up a Town Hall Meeting on Thursday June 11, 2015 from 6 – 8 PM.
New Business:
- Member growth and site usage on an annual basis to be reviewed in November.
- Memorial brick walk will be pointed out in the newsletter as well as the hiking/walking path and the continuation of the tree and park bench donation program.
- Meadow land tenting area sites to be turned into RV sites-more discussion in October board meeting.
- Sewer in the meadow lands: can’t do because lift station cost is estimated at $250,000. Maintenance is looking into a honey wagon.
- A motion was made and approved by the board that we stand behind the verbal abuse phase for employees/workampers as stated in the By-Law Book.
Meeting adjourned at 11:00 AM.
