Minutes - Finance Committee

Draft Minutes Finance Committee Meeting Monday October 16, 2017

9:30 AM Conference Room


Attendees:  Dan Drobnis, Sandy MacGregor, Sal Monaco (Chair), Marti Zieg (Finance Committee); Joseph Guiterrez (Treasurer); Isabel Ugarti (General Manager); Todd Handy, Felicia Probert (Road Committee), David Sorkin, Nolan Zisman (Facilities & Grounds Committee)



  1. Public Comment--None
  1. Additions to/Adoption of Agenda--None


  1. Minutes August 14, 2017--Approved as distributed


  1. General Manager’s Report

Pool Master Plan—GM summarized report from PoolPro and interaction with County.  Numerous repairs required, including to bath house, below-ground plumbing and deck, would trigger complete upgrade to meet current pool and building codes.  Present depth over 5 feet places pool in Commercial category.  Upgrade to code might cause loss of an entire pool season.  Could be wiser to replace pool in a different location.  Discussion of a community survey for future pool needs.  Need to begin building a pool reserve starting in 2018?  An amount of $600K, at the rate of $150K per year was a preliminary consensus.

Hike/Bike Trail Maintenance completed for both 2016 deferred and 2017 scheduled items.

2018 DRAFT Budget discussion—A review of projected 2017 results and 2018 budget resulted in roughly $50K reduction in the 2017 surplus, and an increase of roughly $50K in the 2018 budget recommendation.  Major categories were in the Allowance for Bad Debt and Vistas.  The GM will update for the next FC meeting.  The Treasurer was advised to tell the Board to expect a recommended annual assessment for 2018-19 of about $525.

  1. Board Liaison Report

Legal activity—The GM indicated a projected 2017 overrun for both Covenant Compliance and Board advice.

Committee Charter to be presented to Board—previously discussed by e-mail.


  1. Financial Reports

October 2017 Report—previously discussed by e-mail, only minor problems or questions noted.


  1. 2018 Budget Preparation

Replacement Reserve Update/Issues.  Numerous detailed changes, particularly in 2017-18.  Details will be incorporated in a discussion Tuesday 10/24 at 10-12 in the Conference Room.  Anyone else is welcome.

Comments on Budget Schedule—none.


  1. Next Meetings

Monday, November 13, 2017, 9:30AM

  1. Adjourn