ARCHITECTURE & AESTHETICS
FINANCE
I ’ m pleased to report that the annual audit for the fiscal year ending June 30 raised no significant issues, and that our goal of being 70% funded for Reserves has nearly been achieved. In addition, operating losses for the fiscal year were in line with expectations, since we did not increase assessments last year by enough to pay for increases in California ’ s minimum wage. We have been closely monitoring ORPS monthly financial results to see what impact COVID - 19 has on our income and expenses. For November our revenue was $66,000 below budget and our expenses were $34,000 below budget (due primarily to wage savings), for a net loss of $32,000. The Board asked us to forecast end - of - year (June 30, 2021) results; assuming that the remainder of the year is similar to October and November we expect a net loss for the year of $140,000 to $170,000. The budget for this fiscal year includes a $142,000 expense contingency which the Board approved due to COVID uncertainties last spring, so it looks like we may get through the year without too much financial difficulty. Our other current project is Management ’ s recommendation that the Board approve significant pavement repairs and gutter and intersection improvements throughout the resort. This will be a multi - year project paid for from Reserves. The Committee will be working to understand the impact on our Reserve funding level and recommendations to the Board as to how to maintain Reserve funding as the project progresses. Our next Committee meeting will be Wednesday January 20 at 2:00 by Zoom. All Owners are welcome to attend, check the Oracle or orps.com for Zoom login information.
Driveway Chains - With so many owners unable to join us in the resort we are really noticing the poor appearance of the driveway chains stretched across the lots. There is a wide variety of unattractive chain supports such as Home Depot buckets, concrete blocks, and orange safety cones. Many chains are plastic, which rapidly deteriorate and break in the sun. People hang
swim noodles or rags or pieces of plastic from the chains and these deteriorate as well. On many lots, the posts are tipped over and sometimes there is only one post.
The committee is discussing requiring permits for the construction of any new driveway fences and creating uniform standards. And for existing installations, we will likely say that the chain must be stretched tight with no center supports and no dingle dangles. Posts must be upright. Chains must be metal. No plastic chains. Chain should be removed and placed in storage when the owner is in residence. These simple steps will immediately improve the appearance of our streets. Do - It - Yourself? - Many owners have the good intentions of performing their own improvements, but then get into difficulty in finishing the work in a way that will pass final inspections. In our harsh desert conditions, landscaping must be planted at the right time of year, at the correct depth, and irrigation needs to be designed carefully to protect your investment. Brick borders of brick must surround the plantings and must be secured in cement. Weed barrier must be installed beneath any planting or gravel or stones. Owners can avoid problems and added expense by hiring one of our capable contractors to do their work. Either way, don ’ t forget to apply for a permit.
Finance Committee
Charlie Leahy A&A Chair
ORACLE
4
JANUARY 2021
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