LA CASA STANDING COMMITTEE ON FINANCE
February 19, 2014
Mr. Randy Burlison, President; Homeowners Association of La Casa Board Members; Mr.
Randy Browning, Park Manager; Mr. Gary Beeler, Park Accountant; Residents
Re: SCF Report to La Casa HOA Board
Good Afternoon,
The Standing Committee on Finance has completed review of the 2015 Reserve Study
prepared by Staebler Appraisal & Consulting. Issues and questions identified during the
course of the study have been addressed to our satisfaction. The 2015 Reserve Study is
by far and away the most comprehensive and inclusive Reserve Study to date reflecting
the reality of the individual asset’s value based on the Reservist’s expertise and
professional opinion, and taking into account the results of our recent insurance asset
appraisal and valuation. The Standing Committee on Finance at its February 10, 2014
meeting voted to accept the 2015 Reserve Study and submit it to the HOA Board for its
consideration and acceptance. Accordingly, the Standing Committee on Finance submits
the 2015 Reserve Study to the HOA Board for its consideration, acceptance and approval.
The Standing Committee on Finance has at its February 10, 2014 meeting made the
following recommendations of candidates for consideration by the HOA Board for
appointment to the Standing Committee on Finance: Jack Pasquale for a 3-year term
March, 2014 to March, 2017; Dan Mahoney for a 3-year term March, 2014 to March,
2017; Joe Holovachuk to complete a 1-year term March, 2014 to March, 2015 to fill a
vacancy created by the resignation of Bill Curley. The remainder of the SCF is made up of
David Olson, Michael Calnan, Bill Loftus and Ron Long. We wish to recognize the
contributions and dedication of Bill Curley for all his efforts on behalf of the La Casa
Community.
The development of the 2015 operating budget is underway and we expect to forward a
draft to the HOA Board in March. To date the SCF is not aware of nor has been presented
any planned new construction or contract matters for financing consideration in 2015. The
2015 operating budget will reflect the required Annual contribution to the Reserve Fund of
$275,809.00 up from $235,380.00 in 2014, an increase of $40,429.00. We know the
increased funding amount to the reserve will impact the monthly maintenance fee but we
do not know the amount at this time as there will be changes in anticipated expenses
between now and August when the final budget will be presented for consideration. We
wish to thank Park Accountant Gary Beeler and Park Manager Randy Browning for their
assistance in the development of the budget.
We are also investigating additional potential revenue sources that may be available for
contribution to the revenue requirements for the budget to minimize the impact to the La
Casa residents. One such area is the area of investments to achieve a greater rate of
return with minimal risk, liquidity, transparency and meeting and complying with fiduciary
responsibility requirements. To that end the SCF continues its due diligence to formulate a
comprehensive investment policy, criteria and execution guidelines that meets the needs
of the La Casa Community. We expect to have a working draft in April. Much more needs
to be done to answer and address all the legal, financial and logistical questions we have
before any recommendations are forthcoming.
Our SCF members along with our Park Manager Randy Browning, Park Accountant
Gary Beeler and HOA Treasurer Jan Danner continue to work diligently on behalf of the La
Casa community to insure financial readiness to maintain La Casa’s infrastructure and
appearance.
Respectfully submitted on behalf of the La Casa Standing Committee on Finance,
Jack M. Pasquale, Chairman