By: Kimberly Williams

Thank You Beth

Sandy Pines would like to thank Beth Merren for the wonderful 30+ years she has dedicated to the Sandy Pines team.  Beth has worked in the Administration office serving the role of Accounts Payable/General Accountant.  Her knowledge and understanding of the ins and outs of Sandy Pines was close to her heart and invaluable.  Beth worked hard with the team through many changes including personnel and system changes.  Beth’s meticulous work has been a very huge asset to our Sandy Pines Team.

Although Beth will be deeply missed here, our hearts are also happy for her to enjoy this next chapter in life enjoying more time for her and her family, including her two precious grandbabies. Her gentle spirit, kindest heart and solid work ethic has been such a blessing to us.

On behalf of the SPWT and LMGC co-workers and membership, please wish Beth a very warm farewell.

Thank you Beth for the wonderful 30+ years given to Sandy Pines!

Blessings to you,

Your Sandy Pines work and membership family

Financial Statements

The most recent June 2020 financial statements for both Sandy Pines Wilderness Trails and Lake Monterey Golf Course have been approved at our July Board of Directors meeting and posted on the Finance Page at SandyPines.com/Finance.

2021 Dues & Assessments

We usually start getting calls this time of the year for those proactively planning budgeting and paying Annual Dues & Assessments. Please note that we’ll have the final 2021 Annual Dues & Assessments total after the August BOD Meeting.

Sandy Pines update

  • Operation Cash as of June 2020 is up approx. 42% over prior year, due to the receipt of renewals payments in June, in turn resulting in the reduction of Member A/R from May to June 2020.
  • The balance in the Operational Cash account also includes the receipt of the PPP Loan funds approx. $512k.
  • The Charles Schwab Investment Account as of the end of June is up $130k, approx. 7.7%.
  • Current liabilities is up $626k, primarily related to the currently liability hold of the PPP loan of $512k.
  • Total Net Income is down $55k, approx. 3.3% from prior year, compared to $276k or approx. 16% last month.  The reopening of activities within the park has helped in turning this around.
    • Sales and Hospitality Net Income is down $60k, compared to $200k last month.
      • This is due to added interest in prospective members buying sites and is a significant help with recouping the loss of Site (Camping) Rental Income which is still down $210k as of the end of June.
    • Administration Net Income is down $130k.  Flea Markets have been cancelled through the season.
    • Maintenance Net Income is up $50k.  The majority of the decreased revenue continues as a result of the delay of maintenance services with the shutdown and the increased expense is related to ground maintenance costs with repairs completed in the off-season.
    • Public Safety Income is down $20k.  This change is specifically related to a decrease in guest fees and violations with the stay-at-home order and restrictions and lessoned mag card income.
    • Recreational Net Income is $15k higher than prior year.  Salaries and wages year-to-date are lower due to the delayed season and set up of employees.
    • Resort Services Income is up $250k.  Operational expenses are down $120k compared to prior year.
    • Park and Garden gross sales is up $10k and the cogs is also up $16k.  Park and Garden has great product needs for our members and guests and Administration’s focus is to continue turning the product sales.
    • Rentals Income is down $30k related to the cancellation of multiple golf cart reservations related to the Pandemic restrictions and a slower restart.

 

Lake Monterey Golf Course update

  • Operation Cash as of June 2020 is down approx. $20k or 5% over prior year.
  • The balance in the Operational Cash account also includes the receipt of the PPP Loan funds approx. $35k.
  • Current Liabilities are in line with prior year, but all include the holding of the PPP funding.
  • Total Gross Revenue is up $47k or 11.8%.
  • Total Operational Expenses is increased $40k.  The stay-at-home order and delayed activity on the greens has helped recoup some of the previous expense in the off-season making repairs to the course and uncompleted maintenance projects during the month.
  • Total Net Income is up $27k.

 

Please refer to the Finance section of the Sandy Pines webpage for the posting of the most currently approval financial reports.  Enjoy your time away from home and stay safe!

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