MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS HILLCREST GOLF CLUB Tuesday, October 11, 2016 DRAFT The regular meeting of the Board of Directors was held at Hillcrest Golf Club on Tuesday, October 11, 2016 at 7:00 p.m. Jack Morrison, President, called the meeting to order. The following Board members were present: Doddie Abeyta, Michael Brennan, Paul Wilson, Bob Therrell, Mary Kay Aigner, Brian Dommer and Bryce Fauble. Michele Peterson was excused. The following Hillcrest staff members were present: John Vickers, Ken Kirby, Will Herz and Karen Gallegos. MINUTES: The minutes of the September 13, 2016 Board meeting approved as submitted. TREASURER S REPORT: The checking account balance on September 30, 2016 is $182,811 which is about $23,000 less than August 31, 2016; plus there is a cash reserve of $58,000. Under consideration is the use of some of the cash reserve to fund the leak repairs at the front of the clubhouse. Cash declined $19,000 in September 2015. 2016 vs 2015 (Monthly Comparison) Total revenue for the month was $11,000 higher than in 2015, almost all attributable to an increase in green fee revenue. Course expenses were $7,000 higher, with higher hourly wages and seed expense. Administrative expenses were about the same as in 2015. Interest expense is $1,800 higher than 2015 due to interest on the renovation loan, offset partially by the reduction of principal on the irrigation and equipment loans. Capital Expenses None were completed in September of either year. Loans: Irrigation Loan the balance at September 2016 is $355,071. Maturity date is December 2025, interest rate 4.75%. 2014 Equipment Loan the balance at September 2016 is $135,893. Maturity date is December 2018, interest rate 3.75%. 2015 Renovation Loan the balance at September 2016 is $487,632. Maturity date is June 2026, interest rate 5.25%. The Treasurer s Report was accepted as submitted. PUBLIC PARTICIPATION: This is the time set aside for members to voice any questions, concerns or ideas to the Board and the Hillcrest staff. Macky Headrick submitted a recommendation that the front and back nines be reversed. See said topic under New Business.
UNFINISHED BUSINESS: 1. Web site Update: Michele submitted a report giving information for aerial views and cost for the web site. The consensus of the Board was not to pursue that idea any further. 2. Cross Country Recap: David McMillan stated that the race was an overwhelming success with 540 racers, 90 volunteers and profits higher than last year. They donated $250 to the Hillcrest Junior Golf Foundation from their proceeds. This is the only one of its kind of cross country race in Colorado. There was also a full moon which added to the overall success. The clean-up was good and they thanked Will for his help. They would like to reserve September 15, 2017 for next year s race. An informal vote was taken and passed for the 9/15/17 date. 3. 2017 Budget will be discussed under Committee Reports. NEW BUSINESS: 1. Reversing the Nine Holes: Macky Headrick s email was discussed concerning the reversal of the front and back nine holes. This would be a perfect time because we will be ordering new score cards and tee markers since the course has been re- rated by the CGA and the CWGA. After further discussion, Bryce moved that we reverse the nine holes as of November 1, 2016 until the end of the season as a trial period. No second. Bryce then moved that we reverse the nine holes as of October 15, 2016 until the end of the season as a trial period. Michael seconded and motion passed. An email will be sent to explain this experiment and requesting feedback from the players. If the feedback is positive and the Board decides to make this reverse permanent, it was suggested that the Board consider putting cameras on holes #12 and #13 so that the Pro Shop can monitor pace of play. Paul will check into the feasibility of this idea. 2. Counters for the Board election: Michael, Paul, Bob and Bryce volunteered. The ballots and proxies will be counted on Sunday, November 5 th at noon. COMMITTEE REPORTS: Budget/Finance Brian presented the 2017 proposed budget to the Board. After extensive discussion regarding revenue versus expenditures and capital expenses, the Board finally approved the following fee structure: Membership Rates: Full - $650 ($600 with early pay discount) Spouse - $550 Family - $1290 Late Season $325 College and Junior to remain the same 20 Round Coupon Book - $310 Trail Fees - 9 holes $2 18 holes $3 The trail fee is to be used for cash reserves and capital improvements i.e. improvements to the entire facility (course and buildings). Greens Fees 9 Holes Peak $25 Off Peak $20 18 Holes Peak $45 Off Peak $35
Peak season will continue to be Memorial Weekend to Labor Day weekend. Cart Shed $455 (The increase is to help with maintenance costs for the sheds. Funds will be held in a separate ledger account.) House Paul stated that we will be over budget about $1000 with the duct cleaning that is scheduled for November. Michael stated that they are going to put up a gutter on the west side of the clubhouse around the kitchen area to direct water away from the building. They will also be installing some heat tape. This is an inexpensive quick fix for this winter and will look into a long range solution. Grounds Tournament Memberships Policy: Marketing GROUNDS SUPERINTENDENT S REPORT: Ken reported the following: Nothing further. Mary Kay stated that the committee will meet Wednesday to look at next year s tournament schedule. 601 members and 282 coupon book holders to date. Seasonal Passes at 10. New members at 183. 2015 had 588 members and 233 coupon books and 12 seasonal passes. Nothing to report. Bryce stated that we were looking at a new Ballantine Communications magazine that will come out quarterly. We will be able to change our ad each quarter. Bryce proposed that at the Club Championship tournament the winners be allowed to apply their winnings to the next year s membership fee instead of credit to the Pro Shop. Karen will check with the CGA. Ken Kirby Sand bottles has been purchased for the pull carts and a sand bucket has been placed at the #14 tee box. They are in the process of chipping all the tree material into mulch. The larger logs will be shipped out Fungicides will be put on the course at the end of the month. They are planning to aerate starting on November 1 st and closing 9 holes at a time - - three days per nine. It has been a good year! GOLF PROFESSIONAL S REPORT: John Vickers John reported the following: There were three Club events during the month of September; 4 Person Best Ball, Fall Classic and 3 Clubs and a Putter. Participation was down slightly in these events. The DHS Golf Invitational was held at Hillcrest on Monday, September 12 th. Approximately 70 golfers participated, the second round was held at Dalton Ranch on Tuesday. The Sieger Cup Shoot-out was held on Saturday October 1 st. The winner was Eric Dunn.
The HWGA concluded its season on Tuesday, September 27 th with a 9 hole event and luncheon. The season seemed to be very enjoyable for all the participants. Hillcrest Golf Shop hosted the DHS Class of 1966 reunion. Approximately 100 people attended the event. We received many complimentary comments on the event. FLC will host their annual Talon Tournament on Saturday October 29 th. The Snack Bar will close for the season on Sunday, October 30 th. There were 43 FLC/DHS/Comp rounds in September and 222 YTD. John also provided numbers for September, YTD and YTD 2015 for golf carts, range and food & beverage. With no further business, the meeting adjourned at 9:12 p.m. Respectfully submitted, Karen Gallegos, Office Manager