AGENDA v1. SVCA FINANCE COMMITTEE MEETING WEDNESDAY, FEBRUARY 19, 2014 at 6:30 PM MULTIPURPOSE ROOM

Transcription

1 AGENDA v SVCA FINANCE COMMITTEE MEETING WEDNESDAY, FEBRUARY 9, 204 at 6:30 PM MULTIPURPOSE ROOM I. CALL TO ORDER II. ROLL CALL III. ADOPTION OF AGENDA IV. APPROVAL OF MINUTES: February 5, 204 V. CONTINUING BUSINESS: A. Operations and Capital Projects: Jeff Schlaack. Update: Barns 7 & 8 2. Revised Golf Cart Proposal: The cure for Analysis Paralysis 3. Other Capital Projects (if any) 4. Project Planning; The first project B. Accounting Reviews: Michelle Miller. Progress Report: 203 Closing 2. Progress Report: C3 Conversion (with Melissa Lange) Target Cutover: March 3. Banking Alternatives (placeholder, not due until 3/5) 4. Post YMCA Forecast P&L (placeholder, not due until 3/5) 5. Collections Plan: due date to be established at this meeting 6. Balance Sheet Reprint C. Program Oversight: Quick Updates. Update (if any) - The 204 Roads Plan: Pug Edmonds 2. Update - The 204 CRRRF Plan: Mitch Waterman (no update until 3/5) 3. Status - Golf Business Plan: Carol Houlton 4. Status - Coffee Shop Shutdown & Analysis: Melissa Lange 5. Status - Reserve Strategy: George Shaffner VI. NEW BUSINESS A. Billing the SVCA for Work Performed by EMB Employees: Melissa Lange B. Amenity Valuation: George Shaffner VII. MEMBER QUESTIONS AND COMMENTS VIII. CLOSE

2 SUDDEN VALLEY GOLF DEPARTMENT Memorandum TO: FROM: Jeff Schlaack, General Manager Board of Directors Finance Committee Brian Kruhlak, Director of Golf DATE: February 4, 204 TOPIC: Golf Cart Storage Building Purpose: To provide information necessary for the Finance Committee and / or the Board of Directors to decide whether or not I should go forward with an official request for funding to construct a pole building in the lower golf parking lot to store our golf cart fleet on a daily basis. Background: When the Sudden Valley golf course first opened in 97, golf carts were not used that frequently and golf courses owned small if any cart fleets. As the industry developed, golf carts became more prevalent and created a significant source of revenue for golf course owners. Sudden Valley is no different as our cart fleet has grown from 4-6 carts back in the early 970 s to a fleet of 5 carts today and has produced as much as $30,000 in annual revenue. Most courses have either built cart storage facilities retroactively or were opened or remodeled after the early 980 s when cart fleet sizes had expanded. Unfortunately Sudden Valley has not addressed this issue and we have always been forced to store our cart fleet outdoors and exposed to the elements. As mentioned in my cart fleet funding request, we are very much outliers amongst our competitors in this regard. Outdoor storage of our cart fleet causes many problems: Wear and tear the cold, damp weather of the Pacific Northwest takes its toll on any equipment stored outdoors effectively reducing the useful life of our cart fleet. This problem has been exacerbated based on the fact that we are no longer allowed to store carts under the decks in the winter months like we used to. Half of our fleet now sits out totally exposed during the worst weather months of the year. Security We have been very fortunate that we have not had a large scale theft or vandalism of our fleet based on how they are stored. At some point, we will be targeted for such an event. Presentation Our carts are constantly filled with debris from overhanging trees resulting in poor presentation to our customers. Aesthetics The first impression of our facility is not helped by the mish mash of carts stored in various locations in front of our golf shop.

3 Electric Fleet Potential If we hope or are forced at some point to move to an electric fleet (CA no longer allows gas carts), we will be required to have an indoor storage facility. While the $25,000 cost for such a building is significant we can expect to recoup that cost relatively quickly based on being able to operate our fleet for 2 years every fleet cycle while owning them free and clear. My reasoning is as follows: Without a building, my recommendation is to enter into a 5-year operational lease and renew the fleet every 5 years without ever owning the carts thereby resigning ourselves to lease payments of $38,000 every year. If we were to have indoor storage, it is very feasible to either purchase the carts outright (saving $24,000 in interest) or to enter into a 5-year capital lease. Both of these options would result in SVCA owning the carts after the end of a 5-year cycle. If the carts are stored indoors, we will almost certainly be able to operate the carts for an additional 2 years without any payments. At a savings of $38,000 per year, 4 years of no payments would more than cover the cost of the building. By 2027 the building would have been more than paid for and future cart cycles will result in savings of $76,000 (or more as cart acquisition costs escalate) every 7 years. Request: I propose that we build a 40 x 20 pole building in the lower parking lot to store our fleet of golf carts on a year round basis at a cost of $25,000 with a 0% contingency. Bids: I have not received all of the bids necessary to submit a formal funding request, but I have received enough to determine cost. If given the direction to proceed from the Finance Committee and or Board of Directors, I will secure the bids required to submit a formal request. Hopefully this memo provides the information necessary in order for those bodies to decide whether or not I should go forward with official funding request. 2

4 204 SVCA Roads Funding Overview As of: 02/9/4 Priority Culvert/Project Number Grade Activity Forecast Cost Diameter (in.) Length (feet) Repair type Status Comments Lake Louise Dam - Emergency Overflow 227 D Engineering $24, Slipline Approved in D Permit Fees $2,000 Re-approve? 204 On Call Services Engineering $0,000 T&E as requested Includes Road Reserve Plan consulting SW Masterplan Ph 2 Engineering $28,900 Approved Rose Ridge/Harbr View 7 & 9 D Design, etc $2, Slipline; daylighttask Order submitted 7 & 9 D Permits $,000 Louise Creek - inlet only 9 D Design, etc. $35, Daylight 9 D Permits $5,000 Lost Fork Lane 8 D Design, etc. $20, Slipline 8 D Permits $,000 Far Summit Place 53 D Design, etc. $20, Slipline 53 D Permits $,000 Midnight Court Design $5,000 Grading and Permits $,000 Paving Paving Area culverts 204 C Design $8,500 Develop Std C Permits $,000 Lake Louise Dam - Emergency Overflow 227 D Construction $40, Slipline Rose Ridge/Harbr View 7 & 9 D Construction $20, Slipline; daylight Louise Creek - inlet only 9 D Construction $50, Daylight Planning Level cost estimate Lost Fork Lane 8 D Construction $30, Slipline Planning Level cost estimate Far Summit Place 53 D Construction $30, Slipline Planning Level cost estimate Midnight Court Construction $25,000 Grading/Paving Planning Level cost estimate Paving 36 C Construction $6, Includes culvert # paving $74,550 Overlay Morning Glory Drive 2 Sudden Valley Drive 67 D Design, etc. $30, Regrade/ReplacePrep for 205 Const. 205 Cost $50k-$70k 67 D Permits $2,000 2 Fawn Court 20 D Design, etc. $5, Regrade/ReplacePrep for 205 Const. 205 Cost $30k-$40k 20 D Permits $,000 2 Rocky Ridge Drive 94 D Design, etc. $5, Regrade/ReplacePrep for 205 Const. 205 Cost $20k-$30k 94 D Permits $,000 2 Valley Crest Way 93 D Design, etc. $5, Regrade/ReplacePrep for 205 Const. 205 Cost $20k-$30k 93 D Permits $,000 2 Sudden Valley Drive 46 D Design, etc. $5, Slipline/scour Prep for 205 Const. 205 Cost $20k-$30k 46 D Permits $,000 Repair 2 Harbor View Drive 06 D Design, etc. $20, Realign/Replace Prep for 205 Const. 205 Cost $30k-$50k 06 D Permits $2, D Culvert Repair $70k-$260k 2 Marina Parking Predesign $25,000 Requirements/Design 3 Other Parking/Paving Areas TBD TBD TOTAL $83,67 Available Funds Forecast $,400,000 (Note: To be reforecasted at least quarterly) Less End of 204 Balance $ (500,000) Net Available Funds $ 900,000 Less Scheduled Projects $ (83,67) Current Forecast Surplus (Deficit) $ 86,383 3

5 204 CRRF Project List (Draft) 204 CRRRF Funding Overview As of: 02/9/4 Priority Asset 204 Project Description Impact Probability (EMB) Ranking Design Construction Status Comments Security R&R Roof $ 7,733 Complete Admin Restaurant Window $ 2,397 Adult Ctr. R&R Roof $ 5,500 Barn 7 Mid Barn entrance $ 5,95 King Works $ (4,429) Refund? Area Z Area Z Soil Contamination Study $,970 Approved Structural improvements to achieve load, shear, and diaphragm integrity, new siding, spo Barn 7 repair roof, eaves, gutters, caulking, exterior paint, and new Bridge door. SOW includes finalizing design, obtaining an independent estimate and schedule. Work execution through High A $ 30,000 $ 209,000 competitive bid and award Barn 8 Structural improvements, elimination of non-essential roof penetrations, spot roof repai spot repair of exterior siding and gutters, caulk exterior and paint exterior/ interior; HVAC, Electrical and Plumbing evaluation and improvements; pool shack, deck, and lighting High B $ 50,000 Need to ID 204 funds approved for this facility. repairs. SOW includes finalizing design, obtaining an independent estimate and schedule. Work execution through competitive bid and award Barn 6 Obtain a Best Value {Life Cycle, $, Schedule, Adaptability} design options for a 205 construction Project. Design elements include addressing failure of poles, R&R roof, structural integrity, gutters, and options for winter storage of carts. SOW includes finalizin design, obtaining an independent estimate and schedule. Work execution projected through competitive bid and award High B $ 40,000 Structural improvements, R&R roof, spot repair of exterior siding and gutters, caulk exterior and paint exterior. Interior work includes interior painting, carpets, repair of saun Admin R&R leaking plumbing, HVAC, electrical and plumbing evaluation and improvements, Building energy efficiency lighting improvements interior/ exterior; repair of bar and restaurant High C $ 25 $ 305,000 exterior decks and rails. SOW includes finalizing design, obtaining an independent estimate and schedule. Work execution through competitive bid and award PM Beach Repair broken foundation, floor cracks, broken fireplace, rot in beams and Shelter columns. Work execution through EMB bid. High A $ 500 $ 3,000 Marina Shelter Repair failed roof structure. Work execution through EMB bid. High A $ 500 $ 2,000 Tree House Repair failing roof and hand rails. Work execution through EMB bid. High A $ - All Fire Safety Evaluation of fire alarm systems, components, reliability, and maintenance Medium $ 2,200 Funded by Operations Maint. Bldg Perform Feasibility Study to obtain best value plan for refurb or replacement of the maintenance building, including consolidation of satellite shops back to Area Z. High D $ 2,000 Golf Course Replace fleet of 5 golf carts High/Medium $ 236,550 Gas or electric? Consider lease; Half in '4 - Half in '5? 2 Range Picker Vehicle-Replacement $ 7,50 2 Range Golf Ball Picker $ 2,72 2 Greens Roller $ 6,62 2 Billy Goat Leaf Blower $,498 ea) $ 2,990 Security Seven (7) Protective Vests, Second Chance Model SMN0-llA Vest $ 5,800 2 Security Truck-4 Wheel $ 7,857 2 Maint. Replace 997 GMC -Ton Dumptruck $ 29,59 Admin Replacement of obsolete office computer system including servers and peripherals High $ 30,73 EMB request- (still valid?). To consider lease/puchase proposal. 2 Admin Replace existing phone system Low $ 4,950 2 Admin GIS computer for the ACC/CES staff Low $ 3,520 Suggest Lease/ Buy consideration. Admin New Postage Machine $ 7,503 Already acquired? 2 Admin Digital projectors (2) M $ 2,000 TOTAL FORECAST PROJECT COST Medium $,60,305 Available Funds Forecast $,500,000 Less End of 205 Balance $ (500,000) Net Available Funds $,000,000 $ 634,000 Less 204 Project Forecast $(,60,305) Forecast Surplus (Deficit) $ (60,305) 4