Committees

The Communications Committee’s mission is to ensure that relevant, accurate and timely information and communication flows between the SVEA Board, Staff and SVEA owners.
The Communication Committee:

• Seeks to enhance the quality of communication to Elkhorn owners and other interested parties
• Seeks to foster a sense of community and provide avenues for active participation in Elkhorn activities
• Will assist staff in publicizing Elkhorn activities by creating a new website, signage program and branding efforts.

This committee is made up of the four officers of the Board. They hear appeals of the Violation Hearing Board, and/or ADC, or act, between Board Meetings, on time sensitive issues.

The responsibilities of the SVEA Finance / Capital Improvements / Long Range Planning Committee are:

(1) Funding and expenditures for operations and capital requirements

• Review and approve financial policy related to annual budget and recommend approval to Board of Directors.
• Oversee the annual budget process and recommend approval to Board of Directors
• Ensure adequate cash flow with proper management and timely investment of cash.
• Recommend SVEA member dues structure to Board of Directors, including property owner billings and split between Operational and Capital funds.
• Review quarterly and annual financial statements with staff. Confirm deviations from plan and corrective actions where necessary.
  

(2) Financial Transparency

• Ensure that the annual budget, monthly, quarterly and annual financial reports and summary deviation from plan are readily available on SVEA website.
• Provide summary updates regarding financial matters at SVEA board meetings and in SVEA newsletters (quarterly) and at SVEA member meetings annually.
• Respond to ad-hoc financial queries from SVEA members as appropriate.

(3) Capital Improvements / Long Range Planning

• Review and approve the capital asset survey including asset list, depreciation schedules, capital reserve suggestions and capital dues amount. Make recommendation to the Board of Directors.
• Maintain the Amenity Master Plan and Long-Term Capital Plan by coordinating with Committees to capture new capital items. SVEA members to confirm and prioritize new items, then incorporate into long term capital plan.

Financial Policy – For Fiscal 2024-25 Budget Development

• Operating Fund – Set minimum level during the year and target level for year end.
• Capital Fund – Set minimum level during the year and target level at year end.
• SVEA Member Dues – Operations and Capital dues for the coming year.
• Investment Strategy – Guidelines for managing investment of reserves.
• Loan Payoff – Confirm policy and timing to eliminate debt.
• Late Dues Collection – Confirm policy to escalate collection of late dues.

Master Amenity Plan / Long Term Capital Plan Development

• Capital Reserve Study Update – A 3rd party will update our depreciation schedules and identify the capital needed each year to replace existing capital amenities.  A new capital reserve target will be set and capital dues will be adjusted accordingly.  The results of this effort will form our baseline capital plan going forward.
• Long Term Capital Plan – The LTCP will be a combination of the baseline capital plan plus the addition of new items from the Master Amenity Plan.  It will identify the expected timing of new capital amenities and the associated capital reserves and capital dues required to avoid a special assessment in the coming years.
• Master Amenity Plan – The Finance Committee is responsible to develop and maintain a Master Amenity Plan that identifies new and upgraded capital amenities.  We will follow the process roughly defined below to develop the Master Amenity Plan:
  • Coordinate with SVEA Committees to identify new and upgraded capital amenities that are believed to be desired by SVEA membership. (Spring/Summer 2024)
  • Present a proposed list of new and upgraded capital amenities to the SVEA board for discussion, editing and approval.  The proposed list should include budgetary estimates (Summer/Fall 2024)
  • Survey the membership to prioritize the list of new and upgraded capital amenities (Fall/Winter 2024)
  • Communicate results of the survey to SVEA membership, along with proposed timing of the highest priority items and the impact on capital dues based on three options…Low, Medium and high.
  • Incorporate results into the annual budgeting and capital dues setting process for fiscal 2025/26

• Important Note: The Master Amenity Plan may include items that the SVEA board believes are necessary for the long term sustainability of SVEA and satisfaction of our members, including things like Village Core parking improvements and housing provisions for SVEA employees.

This committee will be responsible for ensuring the Board processes are fit-for-purpose, provide suitable controls, reflect best practices, and are transparent. Specific Board processes for focus include elections and meeting procedures, but other Board processes such as audit and insurance may be periodically considered as appropriate. This committee will be fully accountable to the Board for member elections, with responsibility for evaluating Board needs, developing selection criteria, soliciting prospective candidates, and supporting election activities.

The responsibility of the Tennis Committee includes making recommendations to the Board regarding programs and the physical facilities. The Committee will be active in coordinating with the Capital Improvements / Long Range Planning Committee.

The responsibility of the Recreation Committee includes parks, open space, swimming, golf, and trails. This committee develops recommendations for the Board based on community input regarding our physical facilities and programs. The Committee will be active in making recommendations to the Capital Improvements/Amenity Master Planning Committee regarding the details and timing for implementing components of the Amenity Master Plan.

This is an Ambassador Program that assigns an SVEA Board Member to attend each sub-association annual meeting in an effort to keep those owners up-to-date on relevant SVEA issues, accomplishments, and upcoming events, as well as to answer questions and bring comments, concerns or suggestions back to the Board. Staff and the Communications Committee will assist with providing topics and pertinent information.

The purpose and objective of the Water Resources Committee is to “Maximize the effectiveness of the use of water within the Elkhorn valley.”