From Jim Mayfield...Former Sun City Anthem Vice President and Former Finance Committee Chairman...to...Anthem Opinions
I urge the SCA BOD to defer action on allocating the $416 of surplus from prior years for the following reasons:
NRED has previously ruled that surplus funds accumulated in a prior year do not have to be allocated to one of the NRS 116 authorized methods of utilization of the funds until the audit for the prior year is complete AND the Board is afforded time (at least 90 days) to evaluate the best use of the surplus funds, as long as the Board disposes of the surplus funds in accordance with NRS 116 prior to the end of the current fiscal year.
The inability of management to estimate the cost savings from the CoVid-19 closure or an estimate of return-to-service costs means the SCA Board lacks facts to make a fact-based determination of the mount of additional surplus funds or above budget costs that SCA may incur in 2020.
The larger amount of reserve funds spent in the last three years has adversely impacted the SCA reserves.
The restoration of the reserve funds will serve as a safeguard against both future annual assessment increases and a special assessment.
It is already known that the percent of funding of reserve funds is an established need. The avoidance of a special assessment for any purpose, other than an exigent emergency, has serve SCA homeowners well and added to the market value of our property.
The SCA Board should defer action on the disposition of the 2019 and prior year surplus funds at this time so that future SCA Boards have the full range of options under NRS 116 to determine the best use of such funds.
Thank you for keeping us informed so you are aware, I just sent the following email to each board member.
My husband and I purchased a home in SCA in November.
One piece of information that we did not have at the time of purchase was how the board had been operating.
We have been following with great interest several issues that concern us - the self-managed restaurant, the upheaval in the finance committee, the upcoming elections, the GMs salary/contract, and the COVID19 response to name a few.
We are asking ourselves if we bought into the wrong community given what we have come to understand.
According to the notice we received about the meeting on Monday, scheduled FOUR days before the ballot count, this board will vote on critical issues.
We find this objectionable.
The newly elected board should be voting on audit and tax return and the assessment credit; not this board whose members terms have technically expired.
We urge you, as well as the other members, to vote NO, thus letting the newly elected board handle these issues.
First of all, no, you didn't buy in the wrong area.
It's beautiful, well maintained, has numerous amenities and some of the most wonderful people; however, every place has its "bad apples" and whereas in most cases you avoid or don't associate with them, it's impossible to ignore those who have control over your life...through Board of Director elections.
This has been the case for years and mostly ignored as a result of low dues and an "I don't care" attitude that might be acceptable in the short run, but with the passage of time, "mediocre" becomes a standard...a standard that will catch up with you.
The very idea of any of the current Board members voting "yes" on such important financial issues to commence when a new board will take over in four days, is an insult to the community, and shows the complete lack of character a person has by allowing it to take place.
Anthem Opinions has always believed all of us deserve the best governance that is financially capable of overseeing an $8-$9 million dollar per year organization, as well as, a friendly attitude when serving us...
...but conducting a vote on such vital matters at this late stage of the game, is just another example of the "control freaks" we've tried to tell people about for years.
Let's hope the right thing prevails and these matters go to a new Board, where they belong.
Beverly & Dan, My wife and I moved to SCA 11 months ago; in general I am 100% in agreement with your comments; I wish I knew more about the Board and Management and the lack of transparency in this community prior to buying; However, even though I have interacted with Directors; Committees past directors and others since being here, yes way to many lack awareness; honesty and integrity! I would happy to name names if your interested. Yet, I have become a member of the Pickelball Club and everybody seems nice and receptive; I have met many people and in most cases there are a lot of very nice people in this community. If you have the desire and abilities I would suggest running for the Board or join a committee(Though committees can be difficult depending on the Chairman--do your homework beforehand). Also, as you have noted, Anthem Opinions provide important information and allows you to voice your opinion. I hope your time here becomes enjoyable/\.
In regards to the Mayfield thoughts above; The $416 is actually $416,000. The 2019 Audit appears to bring that amount to approximately $382,000. Most of these comments have little value to the average reader; The most important point, is if this current Board is unable to get the votes to accept the Audit and Tax Return; Then Mayfield's comments have no purpose. The new Board will in fact deal with these issues; Also I am certain with far greater transparency and integrity then the current Board. Personally, I think Mayfield should find something better to do then hoist his views on this Blog and his good friend's other blog.
From Jim Mayfield...Former Sun City Anthem Vice President and Former Finance Committee Chairman...to...Anthem Opinions
ReplyDeleteI urge the SCA BOD to defer action on allocating the $416 of surplus from prior years for the following reasons:
NRED has previously ruled that surplus funds accumulated in a prior year do not have to be allocated to one of the NRS 116 authorized methods of utilization of the funds until the audit for the prior year is complete AND the Board is afforded time (at least 90 days) to evaluate the best use of the surplus funds, as long as the Board disposes of the surplus funds in accordance with NRS 116 prior to the end of the current fiscal year.
The inability of management to estimate the cost savings from the CoVid-19 closure or an estimate of return-to-service costs means the SCA Board lacks facts to make a fact-based determination of the mount of additional surplus funds or above budget costs that SCA may incur in 2020.
The larger amount of reserve funds spent in the last three years has adversely impacted the SCA reserves.
The restoration of the reserve funds will serve as a safeguard against both future annual assessment increases and a special assessment.
It is already known that the percent of funding of reserve funds is an established need. The avoidance of a special assessment for any purpose, other than an exigent emergency, has serve SCA homeowners well and added to the market value of our property.
The SCA Board should defer action on the disposition of the 2019 and prior year surplus funds at this time so that future SCA Boards have the full range of options under NRS 116 to determine the best use of such funds.
From Beverly & Dan Ahern...to...Anthem Opinions
ReplyDeleteThank you for keeping us informed so you are aware, I just sent the following email to each board member.
My husband and I purchased a home in SCA in November.
One piece of information that we did not have at the time of purchase was how the board had been operating.
We have been following with great interest several issues that concern us - the self-managed restaurant, the upheaval in the finance committee, the upcoming elections, the GMs salary/contract, and the COVID19 response to name a few.
We are asking ourselves if we bought into the wrong community given what we have come to understand.
According to the notice we received about the meeting on Monday, scheduled FOUR days before the ballot count, this board will vote on critical issues.
We find this objectionable.
The newly elected board should be voting on audit and tax return and the assessment credit; not this board whose members terms have technically expired.
We urge you, as well as the other members, to vote NO, thus letting the newly elected board handle these issues.
Beverly & Dan,
ReplyDeleteFirst of all, no, you didn't buy in the wrong area.
It's beautiful, well maintained, has numerous amenities and some of the most wonderful people; however, every place has its "bad apples" and whereas in most cases you avoid or don't associate with them, it's impossible to ignore those who have control over your life...through Board of Director elections.
This has been the case for years and mostly ignored as a result of low dues and an "I don't care" attitude that might be acceptable in the short run, but with the passage of time, "mediocre" becomes a standard...a standard that will catch up with you.
The very idea of any of the current Board members voting "yes" on such important financial issues to commence when a new board will take over in four days, is an insult to the community, and shows the complete lack of character a person has by allowing it to take place.
Anthem Opinions has always believed all of us deserve the best governance that is financially capable of overseeing an $8-$9 million dollar per year organization, as well as, a friendly attitude when serving us...
...but conducting a vote on such vital matters at this late stage of the game, is just another example of the "control freaks" we've tried to tell people about for years.
Let's hope the right thing prevails and these matters go to a new Board, where they belong.
Beverly & Dan,
ReplyDeleteMy wife and I moved to SCA 11 months ago; in general I am 100% in agreement with your comments; I wish I knew more about the Board and Management and the lack of transparency in this community prior to buying;
However, even though I have interacted with Directors; Committees past directors and others since being here, yes way
to many lack awareness; honesty and integrity!
I would happy to name names if your interested.
Yet, I have become a member of the Pickelball Club and everybody seems nice and receptive; I have met many people and in most cases there are a lot of very nice people in this community.
If you have the desire and abilities I would suggest running for the Board or join a committee(Though committees can be difficult depending on the Chairman--do your homework beforehand).
Also, as you have noted, Anthem Opinions provide important information and allows you to voice your opinion.
I hope your time here becomes enjoyable/\.
Peter Brown
In regards to the Mayfield thoughts above;
ReplyDeleteThe $416 is actually $416,000.
The 2019 Audit appears to bring that amount to approximately $382,000.
Most of these comments have little value to the average reader;
The most important point, is if this current Board is unable to get the votes to accept the Audit and Tax Return; Then Mayfield's comments have no purpose. The new Board will in fact deal with these issues; Also I am certain with far greater transparency and integrity then the current Board.
Personally, I think Mayfield should find something better to do then hoist his views on this Blog and his good friend's other blog.
Peter Brown