FINANCE COMMITTEE The November Financials were delayed and not available for this article. This report will focus on other financial matters this month. The Resort is under a 25% reduction mandate by the Water District. Potable water use is tracked by residential and common areas. The Resort has reduced water usage on the golf course and common areas, however residential water usage has not been significantly reduced. Water conservation is important for all owners. The Finance Committee recommended to the Board that a 5% contingency be added for major projects undertaken from Reserves to address the issue of uncertainty associated with many of the Reserve projects. The idea for the additional 5% contingency came out of the lake liner project this past year where when the old liner was removed it was discovered that additional dirt needed to be removed and the project needed to be expanded to complete the repairs. The 5% contingency would assist in retaining the integrity of the 80% limitation on Reserve Fund expenditures until we reach our 70% fully funded goal. The Audit Report from our Auditor noted that there was no minimum threshold dollar amount for capitalization of new personal property and equipment. Capitalization of personal property and equipment is associated with the depreciation of those items as part of the annual audit. After a review of options, the Finance Committee recommended to the Board that a new Capitalization Policy be adopted setting a $5,000 minimum threshold and a three year minimum life expectancy for capitalizing new personal property and equipment. Additionally, it was recommended that the Capitalization Policy be included in the ORPS accounting procedures manual. The Finance Committee is continuing to review potential cost implications associated with potential land acquisition and development. We are continuing to look at ways to minimize assessment fee increases through cost control and revenue enhancements. Additionally, we are continuing to analyze risks, identifying those risks which pose a significant threat to the resort and what actions can be taken to reduce those risks. B ILL D IETRICH , Chair
COMMUNICATIONS MMI Hard to believe but, we are starting another year. Is it just me or are these years flying by? If so, let us make the most of our time in the Resort for 2016!
On January 18 we welcome our 2015 New Owners at a Reception just for you in the Owners’ Lounge at 4PM. There you will enjoy wine, soft drinks and a few things on which to nibble. Meet our General Manager, Board Members, some Committee Chairs as well as support staff that keeps our Resort running smoothly. Oh yes, your Phase Representatives will be there as well. January 26 is the Candidates Forum to be held at La Palma at 1PM. Come listen to the Candidates answer questions that hopefully will help you make your choice when choosing our new Board Members. Do you have a pet or two? Then join in on the Pet Parade on January 16. In the past, pet parades we have had birds and cats as well as dogs. There was even a turtle that was a participant. Even if you don’t have a pet, it is fun to watch and enjoy. Also Clint will be continuing the Meet and Greet starting on January 15 and will meet every other week at 2PM in the East Room Next month your Phase Reps have something special to offer you for Picnic in the Neighborhood, so stay tuned for that information. You don’t want to miss out on activities so make sure you pick up a calendar from the Activities Office. Another thing to remember is you are invited to attend any and all Committee meetings, these are also listed on the monthly calendar . Let us make this year a year of harmony and good will.
D E D E L OOP Chair
ORPS MEETINGS Board Planning Meeting – Monday, January 11, 1PM – La Palma Auditorium Board Regular Meeting – Monday, January 18, 1PM – La Palma Clubhouse Auditorium A &A Wednesday 9AM Jan 6 Board Room, LP Activities Tuesday 2PM Jan 12 Owners Lounge, MPR Communications Monday 11:30AM Jan 4 East Room, LP Facilities Planning Thursday 2PM Jan 14 & 21 East Room, LP Finance Wednesday 2PM Jan 6 & 20 East Room, LP Golf Tuesday 1PM Jan 5 Owners’ Lounge, ES Health & Fitness Tuesday 10:30AM Jan 5 West Room, ES Safety & Security Friday 1PM Jan 8 East Room, LP Tennis Saturday 9AM Jan 9 La Palma
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