The SFTR Budget Committee met at 8:00am on July 21, 2001 at Century Small Business, 109 W. Main Street, Trinidad. Present were Jim Davis, Michael Hughes, Carol Rawle, Harriet Vaugeois, and Paul Miner. Absent were Bill Wenstrom, Bill Bumstead, and Rick Johnson. Robert Walton resigned from the Board on July 19 and wasn’t expected to attend. The committee next meets on September 15 at the same time and place. (Click here to see the Calendar of Events Page on the web site for meeting schedule updates.)
Cash
Bill Quigley reviewed cash income and expenses to-date for
2001. The POA has received about 99% of total budgeted income and incurred about
70% of total budgeted expense through June 30. The POA also realized more
miscellaneous income than expected. Total income for the year is now projected
to be about 1% higher than budgeted and total expense is now projected to be
about 8% lower than budgeted. Accordingly, the budget is expected
to show a surplus. The Committee recommends to the Board that
$8,000 of the anticipated surplus be immediately reallocated to road expense.
Committees
Committee spending is within budget
with the exception of the Communications Committee. However, the overrun was created
when the Board approved expensing the bills for renewing SFTR’s website domain
name for 10 years and the server rental for a full year in 2001
rather than being apportioned into future years.
Road-related expenses are within budget. However, it’s become apparent that many roads on the ranch are no longer maintainable by grading alone and will require resurfacing at about $12,000-$13,000 per mile to obtain substantial improvement in the driving surface.
The Common Area Committee anticipates additional spending on a second round of communal common area/roadway weed control, probably in early to mid-September. However, the excellent degree of participation by residents saved substantial money and weed control for the year will be well within budget. Additionally, sprayers purchased for the effort will be available to residents and to the committee for use in the future.
Amended Tax Return
As reported last month, amending
previously filed income tax returns was expected to realize a refund plus
interest. That money is now being received and totals about $5,300 in refunded
payments plus interest to-date.
Colorado Trust
Colorado Trust. Payments from the Colorado
Conservancy Trust (funded from state-wide gambling revenue) totaling about $230
have been received.
The Committee anticipates that additional funds will be loaned to the district to cover start-up and operating costs while establishing it’s customer base.
Beautification
The Committee recommends reimbursement to
all members who incurred expense in connection with renovating the entryway and
installing new signage there.
2002 Budget
The Committee discussed the
proposed 2002 budget which will be revised and presented for adoption
at the August Board meeting. The budget anticipates increasing dues by an amount
equal to the increase in the Consumer Price Index (+/- 3%) as permitted
by the POA by-laws.