Finance Meeting 4/29/2019

COYOTE LAKES RECREATION CLUB

Finance Meeting

April 29, 2019

 

Board Members Present:

Ron Richey

Rod Alt

Monica Hall

Richard Hoffman

Bill Ross

Kerry Bernard

Mary Bolender

 

Also Present: Linda White

 

The meeting was called to order at 7:00 PM

 

 

The sole purpose of the meeting was to establish a budget for the new fiscal year and prioritize projects for now and in upcoming years.

 

When the dues are collected the club should have approximately $84,000 in revenue for the year.  The ordinary operating expenses of the club for the year are projected to be $68,000, based on historical data.  This leaves $16,000 to apply towards major repairs that need to be addressed this year.  The repairs will require spending from the club reserves to make up the deficit in current income but will still leave $15,000 in the investment account.

 

The first priority for Fiscal year 2019-2020 is the major repair to the pool that is required to be made if we wish it to remain open.  The committee has earmarked $25,000 for this.  It will be scheduled for January 15, 2020, and should take roughly 2 weeks to complete.

 

Priority #2 is necessary repairs and painting to the outside of the structure.  The early bids for this are coming in at around $15,000.  It is hoped that this can be begin in the late spring of 2020 with the expense flowing into fiscal year 2020-2021.

 

The other projects include:

 

#3 resurfacing of the parking lot

#4 roof repairs

#5 upgrades to the pickleball courts

#6 a lift for the pool

 

These will be considered on their merits when funding allows.

 

 

The meeting adjourned at 8:30 PM

 

Respectfully submitted,

Mary Bolender

Secretary

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