Community Coffee serves up 2019 budget data
The POA Community Coffee on Saturday, Nov 10 offered the more than 140 attendees a detailed look at the proposed 2019 capital plan and 2019 operating budget, presented by Director of Finance Jayne Hagan.
Hagan reviewed key budget points for 2019 beginning with revenues, including an increase in monthly assessment of $20 per month for homes and $13 a month for lots; a 5 percent increase in amenity membership dues; and fee increases for pontoon docking, cart rental and the storage yard.
In an effort to increase revenues for Big Canoe’s amenities and banquet facilities, $95,000—out of the $169,989 marketing budget line item—will be used to advertise in local newspapers and wedding publications to attract golf outings, weddings and banquets.
A color-coded 2019 capital planned showed the priority level for each capital project. New items for 2019 (as opposed to 2018 carryovers) included $200,000 for 2020 architect services based on possible results of the master plan now being developed. Other items included new canoe racks and landscaping for the North Marina and bocce courts with lights at Wildcat Recreation area. The biggest items were for Public Works road improvements with $692,950 earmarked for paving in 2019.
At the coffee Saturday, an improved seating configuration corrected problems that occurred during the POA Work session on Thursday Nov 8 when an overflow crowd was unable to get into the Mountains Grille to hear speakers. Additional seating for 160 in the enlarged space allowed the attendees to be seated, hear speakers and see the presentation via the POA’s new AV equipment.
Questions and more questions
Every POA meeting, work session and coffee includes a time for questions from property owners. General Manager Jill Philmon fielded questions at this event. Regis Felinski opened the question period by asking where the cost reductions were.
“Our operating expenses are flat,” replied Hagan, pointing out that money was cut out for storm damage, coloring pine straw, tree removal and reduced staff as well as cutting out stocking the lakes for a couple of months.”
“Has the POA considered moving from a private to semi-private structure to provide an additional revenue source?” asked Dan Bishop.
“We’re working on getting more golf groups coming to Big Canoe,” said Philmon. “This allows us to bring more outside groups in but with a controlled process.”
“What percent of revenues goes to reserves?” asked Karen Bachman.
“Whatever is left over from capital expenditures goes to reserves,” said Hagan. “Our capital reserve is an emergency fund.” As an example, she cited the dam as a potential future expenditure requirement.
“What’s our track record on how far we are off on making budget?” asked Scott Howard.
“That depends the environment of what’s going on [at the time],” noted Philmon.
The POA Board is expected to vote on the 2019 operating budget and 2019 capital plan at the POA voting session beginning at 5 p.m., Thursday, November 15.
Link to the video of the Community Coffee: https://vimeo.com/300349741