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TREASURER’S CORNER, Dick Tipton
The Club at WestPark
Community Association

The Board of Directors is and On Site Salaries) represent 75% of the total 3240 Kennerleigh Parkway,
now completing the first expenses. Roseville, CA 95747
year of our two-year term Going forward, we have two significant issues to Phone: (916) 771-7801
and I’m pleased to announce address; inflation and the drought. We’ve all felt Fax: (916) 771-7827
that our financial health is the pain of dealing with the current level of infla- www.theclubatwestparkca.com
improving. But, there have tion. In the HOA’s case, having four accounts rep-
been challenges along the resenting such a large percentage of total expenses The Retreat Facility Hours
way. HOA’s maintain two cash accounts; An Op- is both a blessing and a curse. It makes budgeting Monday - Saturday
erating Fund, which covers day-to-day expenses a bit easier because all of the other GL Accounts 8:00 a.m. - 9:00 p.m.
and a Reserve Account, which covers the replace- represent only 25% of our total expenses. Even if Sunday
ment of association assets. Both of these accounts they all went up by 10%, it would have minimal 8:00 a.m. - 7:30 p.m.
were underfunded when the new board was elect- overall impact. On the other hand, all four of those
ed. major accounts are fixed contracts. If even one of FirstService Residential
Since the Retreat had been closed for 15 months, them had a significant yearly increase, it would Customer Care Center
Riverside Management advised the previous board make it very difficult to balance the 2023 budget. (800) 428-5588
Resident Portal
that expenses would have been reduced sufficient- In addition, it should be assumed that inflation will https://theclubatwestpark.connectresident.com/
ly to create a budget carryover and an assessment increase the replacement value of our assets, there-
increase was unnecessary. In reality, with the Re- by reducing the percentage of our fully funded re-
treat fully open by September, our profit carryover serves. Board of Directors
was only $42,811 and was being reduced by over With regard to the drought, Roseville currently al- Scott Smith, President
$30,000 per month. A budget carryover was not lows watering three days per week. But if the Jill Egbert, Vice President
possible. drought continues, or worsens, we could be forced Dick Tipton, Treasurer
The previous Reserve Study, which is done annu- to cut back to one or two days per week. The new Dan Ketchum, Secretary
ally, estimated the replacement value of our assets board will need to develop a plan for drought man- Pat Patterson, Director
to be $728,181 and concluded that the Reserve agement. A Community Chat meeting is being Email: boardofdirectors@tcwp.net
Fund balance was 39% fully funded. In reality, a planned to address this issue. We need input from
new study concluded the actual replacement value as many members as possible to find the correct
to be $940,968 and the fully funded reserve per- strategy for dealing with what seems to be an inev- 2022 Board of Directors
centage was 30%. These issues had to be dealt itable weather challenge. Monthly Meetings
with, while at the same time, re-opening the Re- Our goal is to continue improving our financial Meetings are open to all
treat and working with a new management compa- health and we want to involve the entire communi- members of the Association.
ny. The board voted to increase assessments by ty as much as possible. When the first draft of the 4th Wednesday of each month
$15 per month per house in an effort to balance the 2023 budget is complete, I would like the entire
budget. board to review the draft and make any needed Onsite Association Staff
916-771-7801
As of May 31, 2022, our Operating Fund is at changes in an open association meeting, rather
$271,129, which represents the equivalent of two than in closed session. To my knowledge, this has Spiro Stamos, General Manager
months of operating expenses and our Reserve not been done before and while input would only spiro.stamos@fsresidential.com
Fund is at $450,387 which is equal to 48% of the be allowed to come from the board, it would give
fully funded reserves. As a non-profit corporation, the community a better opportunity to understand Christina Gee, AGM
we are budgeted to break-even with zero profit for the budget issues and the process needed to contin- christina.gee@fsresidential.com
the year. On a year-to-date basis, we are currently ue improving our financial health.
showing a loss of $26,081. Under the current Shannon Van Every, Lifestyle Director
budget, four General Ledger accounts (Contract shannon.vanevery@fsresidential.com
Management, Insurance, Landscape Management

Home Specific Emergencies
(800) 762-5858
A reminder about operation of the HOA
Compliance, financial reporting, and quarterly assessments are managed by FirstService Residential. FirstService staff are engaged by and Home Warranty Questions
work at the will of the Board of Directors. The Board is responsible for their management. Contact Spiro Stamos, General Manager first, if
you have issues you feel need to be addressed. norcal@pultegroup.com
If you feel that the matter needs to be brought to the Board’s attention, please send an email to boardofdirectors@tcwp.net. The email will
be received by the Board President, Spiro Stamos, General Manager and Michael Marshall, Vice President of FirstService Residential. All
correspondence is included in the monthly Board packet for review at the next Board meeting. A member in good standing can ask for a
private meeting with the Board to discuss personal matters.

July 2022 Page 2