Verrado Assembly 1 st Quarter Board of Trustees Meeting The Center - - PowerPoint PPT Presentation
Verrado Assembly 1 st Quarter Board of Trustees Meeting The Center on Main March 27, 2018 Presentation Title | Presentation Title 2 Date 6:00 PM Agenda I. Welcome and Introductions II. Call to order III. Establish a Quorum IV.
The Center on Main™ March 27, 2018 6:00 PM
I. Welcome and Introductions II. Call to order III. Establish a Quorum IV. Secretary’s Report V. Treasurer’s Report VI. Community Engagement Report VIII. Business IX. Adjournment
Please note: Unaudited for the period ending December 31, 2017
Curre rrent Q t Quarte arter Prior Q r Quarte arter Chan ange ASSE SSETS Operating accounts 24,855 $ 193,414 $ (168,559) $ Reserve accounts 116,025 115,972 53 Total C Cash 140,880 880 309,386 (168,5 ,506 06) Net accounts receivable 137,659 15,921 121,738 Other assets 34,975 36,390 (1,415) Due from Association 224,030 373,774 (149,744) Total tal A Assets ts 537,544 $ 73 735,471 $ (197,9 ,927) 27) $
Please note: Unaudited for the period ending December 31, 2017
Current Q t Quar arte ter Pri rior Q Quarte arter Change LIABIL ILIT ITIE IES A S AND M MEMBERS' S' E EQUITY UITY Accrued expenses 20,251 $ 25,673 $ (5,422) $ Prepaid assessments
(37,973) Total Lia l Liabilit ilities 20,251 51 63,646 (43,395) Prior year surplus (deficit) 383,482 583,482 (200,000) Current year surplus (deficit) 164,917 88,343 76,574
Current year reserve contribution/(distribution)
(31,106) (31,106) Total tal E Equity ty 517,293 671,8 1,825 25 (154,532) Total tal L Liab abiliti ties & E & Equity ty 537,544 $ 73 735,471 $ (197,927) 27) $
Please note: Unaudited for the period ending December 31, 2017 Actu tual al Budget Vari rian ance REV REVENUE Assembly assessment 642,312 $ 624,322 $ 17,990 $ Legal fees 34,422 34,875 (453) Transfer fees 750,127 662,754 87,373 Interest 242 264 (22) Special events & programs 55,851 66,260 (10,409) Allowance for doubtful accounts 44,644 (8,415) 53,059 Ne Net Re Revenue nue 1,52 527,59 598 $ 1,3 1,380,06 0,060 $ $ 147,538 $
Please note: Unaudited for the period ending December 31, 2017
Actu tual al Budget Vari rian ance OPERAT ERATING EX G EXPENS PENSES ES General & administrative 912,543 $ 910,050 $ (2,493) $ Communications 30,713 49,536 18,823 Community engagement 293,772 350,715 56,943 Other expenses 125,603 92,496 (33,107) Total O l Operating ing E Expense nses 1,362,631 1,402,797 40,166 Curren ent Y Year S Surplus ( (Def eficit) 164,967 $ (22,73 737) 7) $ 18 187,70 7,704 $
Note te: N Net R t Reserv rve Co Contri ributi tion/(Distri ributi tion)
(31, 1,10 106) $
Parks – 14 non-weddings and 1 wedding (across 7 parks) The Center on Main – 57 Board Room (non-weddings, includes clubs) 468 Multipurpose Room (non-weddings, includes fitness/clubs) Heritage Swim Park – Heritage Swim Park Ramada – 4 Giving Tree Pavilion – 7 (non-wedding) Verrado Instant Party Trailer – 36
Unanimous W Unanimous Writt itten n Consent nsent in Lieu of in Lieu of a Meeting of the Boar a Meeting of the Board of T d of Trus ustees ees Resignation and Founder Appointment of VA Board of Trustees: Resignations: Todd Hornback, President Suzanne Walden-Wells, Vice President Darrell Mead, Secretary & Treasurer Founder Appointments: Daniel Kelly, President Janice Keller, Vice President Georgia Moraga, Secretary & Treasurer Unanimous W Unanimous Writt itten n Consent nsent in Lieu of in Lieu of a Meeting of the Boar a Meeting of the Board of T d of Trus ustees ees Establishment of the VA Officers’ authority to execute and deliver agreements, documents, contracts and other instruments of every kind and nature on behalf of the Verrado Assembly.
Funded Funded thr through the V ugh the VA R Reserv serve Fund e Fund