VANDERBILT COMMUNITY ASSOCIATION, INC. VANDERBILT COUNTRY CLUB BOARD OF DIRECTORS MEETING - March 16, 2017

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1 VANDERBILT COMMUNITY ASSOCIATION, INC. VANDERBILT COUNTRY CLUB BOARD OF DIRECTORS MEETING - March 16, 2017 I. Call to Order: A meeting of the Vanderbilt Community Association, Inc. Board of Directors convened in the Waterford/Wedgewood Rooms at 8250 Danbury Boulevard, Naples, FL, on Thursday, March 16, 2017 and began at 5:00pm. Notice of this meeting was posted on the Vanderbilt Country Club website and in the Calendar of Events. II. Establish Quorum: Vanderbilt Community Association Directors: Paul Giacobbe, President; Kent Friedman, Treasurer; Jerry Petrarca; Executive Vice President; Nancy Fowler, Secretary; Chuck Blevins, Vice President.; John Laliberte, General Manager; Jonathan Beers, Chief Financial Officer; and Niki Dutton, Membership Director who recorded the minutes, were in attendance. Approximately 30 resident members were present. Noting that a quorum was present, Mr. Giacobbe called the meeting to order at 5:04pm, after asking for a resident forum. III. Review/Acceptance of Minutes: The February 16, 2017 Board of Directors monthly meeting minutes were distributed prior to the meeting to all Board members for their review. Dr. Petrarca motioned to accept both sets of minutes as submitted. Mr. Blevins seconded; all were in favor and the motion carried. IV. Treasurer s Report, Kent Friedman, Treasurer: As the shortest month of the year and as the second month of the season when the novelty of being in Paradise for many begins to fade, February is always a challenge to budget. This past month was no exception, though it did have some highlights. Revenues in February fell short of budget by $30,000 while total expenses including cost of goods sold ended below those budgeted by on $17,500. However, giving effect to timing differences and a one-time unbudgeted expense, the month ended off budget by $18,600. An unbudgeted expense of $9,200 resulted from the transition to the GHIN software system. The GHIN system became the one system approved by the Florida Golf Association and by purchasing it now, the Club could acquire it at the discounted cost. Other unbudgeted expenses included irrigation repairs, pest control and electrical related repairs. These were partially offset by savings in computer support, electrical usage and savings in payroll and payroll related expense. Overall, Year-To-Date the Club has realized total income of $1.8MM, expenses of $1.6MM. Of course, this is the time of year when operating profit is important to offset the slower revenue months during the summer period. Our Balance Sheet remains strong with over $2.1MM in cash, $18.9MM in other assets and total liabilities of $3.1MM, leaving total member equity more than $17.8MM. Final 1

2 Immediately prior to this board meeting, the board, Audit Committee along with John Laliberte and Jonathan Beers, met with Phil Newman who reviewed the RSM Audit results for Once again, RSM has provided Vanderbilt with a clean audit opinion. Finally, as of the present time, Vanderbilt has no troubled units and this will be the last time the Treasurer s Report addresses this subject unless or until it becomes necessary to do so. V. General Manager s Report John Laliberte a) Old Business ~ Reports New Capital & Asset Replacement Capital Projects Updates: The 2017 Capital Project updates as highlighted in the following four (4) reports: (1) 2017 New Capital Improvements ; (2) 2017 Asset Replacement/Reserve Capital Expenditures ; (3) 2017 Emergency Reserve Capital Expenditures ; and, (4) 2017 Additional New Capital Improvements ~ funded by Resale Capital Contribution Funds. Updates for any 2017 Capital Projects currently underway and/or completed, are provided in the attached spreadsheet Capital reports. There are no significant updates to the Capital projects, from the last monthly report. b) New Business ~ Board Action Required Capital Replacement for Fountains on Hole 5 & 9 and Hole 13: As the Board had been notified, currently the fountain on Hole 5 & 9 is down (in need of a new 5HP motor and pump). In addition, the fountain on Hole 13 has no operable fountain LED lights. John has authorized Stuart Bothe to proceed with the ordering of the necessary replacement parts (including installation) for both fountains, through Aquagenix. The signed proposal for delivery and installation of a new 5HP motor and pump on Hole 5 & 9 ~ including a one (1) year warranty on the motor and pump ~ is a total $2, FOUNTAIN on HOLE 5 & 9 Final 2

3 The signed proposal for delivery and installation of three 35 watt LED lights and three stainless steel light brackets on Hole 13 ~ including a two (2) year warranty ~ is a total $1, John requested the Board to formalize its approval at a Total $3, to be expensed as a 2017 Emergency Asset Replacement Capital Expenditure. FOUNTAIN on HOLE 13 Mr. Friedman made a motion to approve the expenditure as presented. Mr. Blevins seconded the motion. The motion passed unanimously. c) New Business ~ Other 1. Special Reciprocal Rates for Clubs with Summer Golf Course Renovation Closings: Vanderbilt Country Club has been contacted by four (4) area Clubs that will soon embark on golf course renovations, beginning in April through October, As a goodwill gesture to our neighboring Clubs ~ similar to the special tee time accommodations and reciprocal member rates that were extended to our Vanderbilt members during our golf course renovation in 2015 (i.e. April 6 th thru October 31) ~ we will be offering 3-day out advance tee time requests and special rates as follows: Glen Eagle ~ did not extend special rate to us during our renovation Close Date: April 2 nd April Rate: Member $39, Guest $79 May through October Rate: Member $39, Guest $49 Advance Tee Time Notice: 3 (after 12:00 PM) Lexington CC ~ did not extend special rate to us during our renovation Close Date: April 3rd April Rate: Member $39, Guest $79 Final 3

4 May through October Rate: Member $39, Guest $49 Advance Tee Time Notice: 3 (after 12:00 PM) Naples Lakes CC ~ did extend special rate to us during our renovation Close Date: April 24 th April Rate: Member $25, Guest $79 May through October Rate: Member $25, Guest $49 Advance Tee Time Notice: 3 (after 12:00 PM) Worthington CC ~ did extend special rate to us during our renovation Close Date: April 3 rd April Rate: Member $25, Guest $79 May through October Rate: Member $25, Guest $49 Advance Tee Time Notice: 3 (after 12:00 PM) Both Naples Lakes and Worthington will be extended a reduced reciprocal member rate at $25 ~ which is the same rate extended to our Vanderbilt members two years ago. Any request for April reciprocal tee times from these four Clubs must go directly through Andrea Drake, Head Golf Professional, from the respective Club s Pro Shop. The 3-day out advance tee time request ~ after 12 noon ~ will have little to no impact on our VCC member securing a desired available tee time ~ VCC Golf Course Summer Closing Schedule & Maintenance Project Schedule : The 2017 Summer Closing Schedule for our Vanderbilt Country Club Golf Course, along with the corresponding 2017 VCC Golf Course Maintenance Project Schedule. With this 2017 GCM Project Schedule, Stuart is focusing the more aggressive summer maintenance procedures for the first closing over 14- day period during in the last week of May/into the 2nd week of June period ~ beginning the day after Memorial Day. The second scheduled golf course closing for maintenance projects is scheduled six (6) weeks later ~ involving an eight-day maintenance period, beginning July 24 thru July 31. This six-week stretch between the first two scheduled golf course closings, with no significant maintenance projects planned, will allow the course to better heal with a longer, more sustained grow-in period. The third and final course maintenance closing involves a four-day closing in the 2nd week of September, which involves a much lighter golf course maintenance program, with an almost immediate turf recovery. The 2017 Summer Golf Course Closing Calendar will be highlighted in upcoming Final 4

5 editions of the E-Vantage, beginning next month and leading up to the reciprocal season, to keep our VCC members better informed. Vanderbilt Country Club 2017 Summer Closing Schedule January February March April S M T W T F S S M T W T F S S M T W T F S S M T W T F S May June July August S M T W T F S S M T W T F S S M T W T F S S M T W T F S September October November December S M T W T F S S M T W T F S S M T W T F S S M T W T F S Golf Course Closed 48 Total Days Closed 1 May - Chipco Choice May 15 Contract Verticut Tees & Fairways October 9, 10, 11 Pinestraw Application 3. The Florida Communities of Excellence Awards: Notice has been received via The Florida Communities of Excellence Awards website that the program will not be held in Final 5

6 The Florida Communities of Excellence Awards had been in existence for eight (8) years, having started in 2009 thru Over 650 of the top communities across the state of Florida, both HOA s and Condominium Associations, have participated over this time in this prestigious statewide community association recognition program ~ with 12 distinct categories as decided by a large panel of over 36 independent judges ~ and sponsored by the Florida Community Association Journal and Becker & Poliakoff. For the past seven (7) consecutive years since 2010 thru 2016, Vanderbilt Community Association, Inc. had been named fourteen (14) times as a Finalist, and of those, three (3) times a statewide Winner ~ in 2015, 2012 and We are extremely proud of this accomplishment, along with the recognition it has brought to our Vanderbilt community, members and staff. 4. Thank You Letter Received by Vanderbilt CC: A very nice Thank You letter, dated March 6, 2017, received from the WOUNDED WARRIORS FAMILY SUPPORT ~ expressing appreciation to Vanderbilt Country Club for its participation in its 2017 event held in Sarasota ~ at Heritage Oaks Country Club. d) Informational Reports Golf Revenue Report February, 2017 Rounds of Golf Report February, 2017 Golf Revenue Report March 1-12, 2017 Rounds of Golf Report March 1-12, 2017 Rover Vehicle Monthly Mileage Report February, 2017 VI. New Business Final 6

7 1. Common Grounds Committee s 2017 Inspection Report Jim Casali: On behalf of the committee, Mr. Casali presented the 2017 Annual Inspection Report of items that should be addressed. The Board thanked the Committee for the detailed information and is looking forward to the repairs. 2. Golf Course Smoking Jerry Petrarca: Mr. Rowold presented a Greens Committee recommendation, supported by the Golf Committee, to temporarily suspend smoking on the golf course. This suspension would likely last until June and was in response to the current drought, recent area brush fires and the exposure to the golf course and the community from discarded cigarettes and cigars in an environment where there is extensive use of pine straw. Over the years there have been at least 3 small fires that were extinguished 1 of which was very close to Waterford Building 10 units. The ensuing Board discussion included input from Stuart Bothe, Golf Course Superintendent and Andrea Drake, Head Golf Professional. A motion was made by Mr. Friedman for Andrea to have the Starters distribute ashtrays to golfers. Mr. Giacobbe recommended the following Rules & Regulations Revision, under j) Courtesy, Etiquette and Safety: 9. The disposal of cigarettes, cigars and other smoking materials including their ashes lit or unlit on the golf course is prohibited, no person may use cigars, cigarettes or other smoking materials on the golf course, unless the golf cart in which that person is riding contains an ashtray (for the purpose of this rule ashtray does not include a paper or plastic cup or other devices not intended for the containment and disposal of smoking materials. Persons in violation of this rule will be subject, after a hearing, of suspension of their membership privileges and/or a monetary fine. Dr. Petrarca seconded the motion. The motion passed unanimously. 3. Recent Issues Paul Giacobbe: Nothing significant noted. 4. Audit Committee Report Kent Friedman: The 2017 Audit Tasks and Calendar were distributed. In addition, Jonathan Beers informed the Board that we have completed all of our renovations, have $1.6 million in the bank between our three capital funds and that these funds are going to increasing as we go forward until approximately 2030, which is the next planned golf course renovation. Therefore, he recommends investing $700,000 in CD s, spread over a 5 year period. Mr. Friedman motioned to authorize Jonathan to proceed in investing in $700K in CD s. Mr. Blevins seconded the motion. The motion was approved unanimously. VII. Upcoming Meetings & Important Dates: a) Town Hall Meeting: Thursday, April 6 at 5pm, St. Agnes Parish Center b) Monthly Meeting: Thursday, April 20, 2017 at 5pm, Waterford/Wedgewood Rms. VIII. Adjournment: Mr. Blevins made a motion to adjourn the meeting at 6:10pm. Mr. Friedman seconded the motion. All were in favor and the meeting was adjourned. Final 7

8 Respectfully submitted, Niki Dutton Membership Director, Vanderbilt Country Club Nancy Fowler Secretary, VCA Board of Directors Final 8