March Finance & Accounting Update

Welcome to the start of the new season in 2019! We are excited to welcome in the spring season, especially after the extensive winter weather this year.

During the month of December, our Board of Directors, along with our Finance Committee, met to review and approve the year-end financials of the 2018 Fiscal Year (ending September 2018), as well as the October 2018 financial statement. These reports are located on our website  Finance Page. Beene Garter was on-site early in January completing the annual review and tax filing for the September 2018 fiscal year. Beene Garter will provide a report presentation and informational review to the Board of Directors and Finance Committee during their next meeting in March 2019.

Overall, the 2018 season ended strong with a recoup of most of the funds put towards our major capital improvements, specifically the Phase 3 FEMA Grant partially funded storm shelters. Sandy Pines commitment to the storm shelters was approx. $1.1M, operationally funded. At the end of 2018, Sandy Pines was able to recoup most of the cash expended, just short $500k. The financial goals of Sandy Pines remains to be fiscally prudent in the allocation of the capital reserve to maintain and replace our capital structures throughout the park to accommodate the large community of Sandy Pines and ensure a strong return on use of the assets. Dues income for the 2018 season covered approximately 46% of the operating expenses for Sandy Pines. Lake Monterey Golf Course continues to show growth in the operations of the golf course. The golf course was also able to pay an additional $75k down on the note to Sandy Pines.

As mentioned in the previous Footprints and highlighted in the Member News, as well as on your monthly statements, if you are electing the option of the installment plan for Annual Dues and Assessments, your last monthly payment of the dues must be paid by March 25, 2019. The installment plan relates to your Annual Dues and Assessments only, and is not a payment option for any other charges to your member account. We have provided for your convenience on the statement, a minimum balance amount that must be met each month to be compliant within the terms of the payment plan, and to avoid any risk of deactivation on your membership cards. In the future, please ensure that if you on utilizing the payment plan that you are staying below the balance shown on your statement. As of March 25, 2019, all dues and assessments must be paid in full.

Annual Renewal charges (per your individual member Automatic Renewal Summary sent the last week of January) will be posted on your March 2017 member statement and is due April 25th, 2017. We would also like to remind you of the various payment options available to you:

  • In office – Cash, Check or Credit Card payment (please note the Public Safety Office is available to take payments 24/7 as well, in person only)
  • Mail – Check payment
  • Online Billing – Make a payment on your account using your MasterCard/Visa/Discover. Convenience fees for MasterCard/Visa/Discover Cards will be 3% of the total payment made. The new payment system will allow your payment to be reflective on your account immediately.
  • Recurring ACH Authorization through your bank – Set a designated amount to pay every month through your personal bank that in time will create a credit balance close enough to cover your dues and assessments prior the new season.

If you have any questions or concerns at any time regarding your member statement, we are happy to assist and may be reached at 616-896-8315.

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