Board of Directors Regular Meeting September 23, 2021 – 6

Board of Directors Regular Meeting September 23, 2021 – 6:00 p.m.

Boardroom at the Country Club and Live Stream Agenda

I. Call to OrderII. Pledge of AllegianceIII. Celebrating SuccessIV. Approval of Minutes:

a. August 26, 2021 – Board of Directors Regular Meeting (Board Vote)b. September 16, 2021 – Board Work Session Meeting (Board Vote)

V. Joint Advisory Committee Reports: (Located in the back of the packet)• Lakes• Recreation• Golf

VI. Financial Reports. The Financial Reports will post on the POA’s website, when they areavailable: https://bellavistapoa.com/governance/financials/ (Located in the back of thepacket)

VII. Last Month’s Open Forum Comments and Questions:a. No Comments or Questions

VIII. Open Forum – Property Owner comments. Comments are limited to three minutes perproperty owner.

IX. Board or Management response to select Open Forum questions, comments or concerns.X. Announcement of the upcoming Community Survey and Focus GroupsXI. Emergency Capital Projects – Golf Course Pumps (Board Vote)XII. Recommendations from the Charitable Giving Committee (Board Vote)XIII. Changes to Policy 8.01 – Directors and Officers Indemnification – Second of two required

readings (Board Vote)XIV. Further changes to Policy 8.01 - Directors and Officers Indemnification. First of two

required readings. (Board Vote)XV. Changes to Policy 1.02 - Establishing, Changing, or Rescinding Governing

Documents (Board Vote)XVI. Announcements:

a. Lakes Joint Advisory Committee Meeting – Wednesday, October 13th at 2:00 p.m.

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https://bellavistapoa.com/governance/financials/

in the Boardroom at the Country Club and via Live Stream. b. Golf Joint Advisory Committee Meeting – Wednesday, October 13th at 4:00 p.m. in

the Boardroom at the Country Club and via Live Stream.c. Board of Directors GM Meeting – Thursday, October 14th at 2:30 p.m. in the

Boardroom at the Country Club. (Closed Meeting)d. Recreation Joint Advisory Committee Meeting – Monday, October 11th at 4:00 p.m.

in the Boardroom at the Country Club and via Live Stream.e. Board of Directors Working Session – Thursday, October 21st at 9:00 a.m. in the

Boardroom at the Country Club and via Live Stream.f. Board of Directors Regular Session Meeting – Thursday, October 28th at 6:00 p.m.

in the Boardroom at the Country Club and via Live Stream.g. Rules & Regulations Committee Meeting – Thursday, December 2nd at 1:30 p.m. in

the Boardroom at the Country Club and via Live Stream.

XVII. Adjournment

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BELLA VISTA VILLAGE PROPERTY OWNERS ASSOCIATION BOARD OF DIRECTORS MEETING (REGULAR SESSION)

AUGUST 26, 2021, 6:00 p.m. ◦ BOARDROOM AT THE COUNTRY CLUB

BOARD MEMBERS PRESENT: Chairperson David Brandenburg, Vice-Chairperson Jerre Barron, Jr., Directors Mike Abb, Teah Bidwell, Sandy Fosdick, Jackie Gain, JB Portillo, and Jan Simms.

BOARD MEMBERS ABSENT: Director Jan Hagan

BOARD MEMBER PROXY: Director Portillo holds Director Hagan’s unstipulated proxy.

OTHERS PRESENT: Chief Operating Officer Tom Judson, General Counsel Doug McCash, Treasurer Stacie Higgins, Corporate Secretary Tammie Loyd, Corporate Secretary Corinne Morin, three members from the media and four other members.

I. CALL TO ORDERChairperson Brandenburg called the meeting to order at 6:00 p.m.

II. PLEDGE OF ALLEGIANCE

III. CELEBRATING SUCCESSMrs. Carmen Burasco presented Kaitlin Adkins with a Celebrating Success Award for goingabove and beyond to help a fellow employee’s spouse who was having a medicalemergency. Through Kailin’s diligence and persistence, she was able to track down who theemployee was with little to no information. The employee was told of the spouse’s medicalemergency thanks to Kaitlin’s quick response and use of resources.

IV. APPROVAL OF MINUTES (BOARD VOTE)Chairperson Brandenburg called for a motion to approve the minutes of July 22, 2021,Regular Session Board Meeting. Director Portillo motioned to approve the Board ofDirectors July 22nd Regular Session Board Meeting minutes. Director Bidwell seconded.There was no discussion. The motion passed unanimously.

Chairperson Brandenburg called for a motion to approve the amended minutes of August17, 2021, Working Session Board Meeting. Director Gain motioned to approve the Board ofDirectors August 17th Working Session minutes. Director Simms seconded. There was nodiscussion. The motion passed unanimously.

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V. JOINT ADVISORY COMMITTEE REPORTSTo review the minutes of each Joint Advisory Committee's meeting, please visit our webpage, https://bellavistapoa.com/governance/committees/.

Mr. Judson stated the Lakes JAC had their election of officers. The 2022 Capital Projectswere discussed and submitted to management. Also, several POA members were concernedabout boating rule violations on Loch Lomond. There will be signage improvements onStoneykirk and the necessity for continued enforcement with Lake Rangers was discussed.

On behalf of the Rec JAC, Mr. Stockman stated there were some comments receivedregarding the Gear Garden and adding a shelf under the window for patrons while paying.There have also been member comments regarding extending hours at the pools and reccenters and more recreational activities for children. The remainder of the summary for theRec JAC can be found by visiting the POA website.

Mr. Judson stated the Golf JAC discussed golf rounds were up from 2020. Country Clubirrigation repairs are currently being addressed. Kingswood is still in need of sod.Scottsdale greens were aerated. The AJGA tournament will be at Highlands September 3-6,2021.

VI. FINANCIAL REPORTController Stacie Higgins presented the July financials. The presentation and financials areavailable on our website at https://bellavistapoa.com/governance/financials/.

VII. OPEN FORUM – PROPERTY OWNER COMMENTS LIMITED TO 3 MINUTESNo member comments

VIII. RESPONSE TO OPEN FORUMN/A

IX. APPOINTMENT OF NEW CORPORATE SECRETARYChairperson Brandenburg called for a motion to appoint Corinne Morin as the newCorporate Secretary for the Bella Vista POA. Director Portillo motioned to appoint CorinneMorin as the new Corporate Secretary to the Bella Vista POA. Director Bidwell seconded.There was no discussion. The motion passed unanimously.

X. CHANGES TO POLICY 8.01-Directors and Officers Indemnification-First of two requiredReadings. Chairperson Brandenburg called for a motion to approve the first of the tworequired readings. Director Portillo motioned to approve the first of the two requiredreadings. Vice-Chairperson Barron seconded. There was no discussion. The motion passedunanimously.

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XI. CELL TOWER BUYOUT PROPOSALTom Judson stated the POA has been approached by two separate companies offering tobuy out the current cell tower monthly payment leases. Currently there are four cell towerleases. No motion was made, and the Board of Directors agreed to discuss this at anothertime.

NEW BUSINESS

XII. Director Abb requested that we give a moment of silence out of respect for Barbara Doyle.

XIII. ANNOUNCEMENTSa) Rules & Regulations Committee Meeting – Thursday, September 9th at 1:30 p.m. in

the Boardroom at the Country Club and via Live Stream.b) Recreation Joint Advisory Committee Meeting – Monday, September 13th at 4:00

p.m. in the Boardroom at the Country Club and via Live Stream.c) Lakes Joint Advisory Committee Meeting – Wednesday, September 8th at 2:00 p.m.

in the Boardroom at the Country Club.d) Golf Joint Advisory Committee Meeting – Wednesday, September 8th at 4:00 p.m. in

the Boardroom at the Country Club.e) Board of Directors GM Meeting – Thursday, September 9th at 2:30 p.m. in the

Boardroom at the Country Club. (Closed Meeting)f) Board of Directors Working Session – Thursday, September 16th at 9:00 a.m. in the

Boardroom at the Country Club and via Live Stream.Board of Directors Regular Session – Thursday, September 23rd at 6:00 p.m. in theBoardroom at the Country Club and via Live Stream.

XIV. ADJOURNMENTChairperson Brandenburg adjourned the meeting at 6:43 p.m.

Submitted: Approved:

________________________________ ________________________________ Corinne Morin, Corporate Secretary David Brandenburg, Chairperson

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BELLA VISTA PROPERTY OWNERS ASSOCIATION BOARD OF DIRECTORS MEETING (WORK SESSION)

SEPTEMBER 16, 2021 ° 9:00 A.M. ° BOARDROOM

BOARD MEMBERS PRESENT: Vice-Chairperson Jerre Barron, Jr., Directors Jan Hagan, JB Portillo, and Jan Simms.

BOARD MEMBERS VIA ZOOM: Directors Mike Abb, Teah Bidwell, and Sandy Fosdick

BOARD MEMBERS ABSENT: Chairperson David Brandenburg, Director Jackie Gain.

BOARD MEMBER PROXIES: None

OTHERS PRESENT: Chief Operating Officer Tom Judson, General Counsel Doug McCash, Controller Stacie Higgins, and Corporate Secretary Corinne Morin.

I. CALL TO ORDERVice-Chairperson Barron called the meeting to order at 9:00 a.m.

II. CHANGES OR ADDITIONS TO THE AGENDAMr. Judson discussed the walk-in memo that was presented to the Board members regardingan additional emergency capital project for the golf pump failure at Dogwood. He explainedthat Keith Ihms, Director of Golf Maintenance, was anxious to get this pump replaced as soonas possible. There was no further discussion. This memo will be added to the Regular SessionMeeting agenda.

III. OPEN FORUMThere were no member comments or emails.

IV. BOARD OR MANAGEMENT RESPONSEThere were no member comments or emails for response.

V. EMERGENCY CAPITAL PROJECTS – GOLF COURSE PUMPTwo pumps at the Country Club failed due to flooding for a total cost of $53,686.66. One

pump failed at Highlands due to lightening for a total cost of $32,058.28. As indicated on item II above, a pump at Dogwood failed due to old age at a total cost of $20,000. These capital projects will need to be voted upon at the Regular Session Board Meeting on September 23rd.

VI. RECOMMENDATIONS FROM THE CHARITABLE GIVING COMMITTEEThe Charitable Giving Committee submitted their recommendations for the annualdonations to Bella Vista charities. Additionally, the Committee nominated a new committee

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member. These items will need to be voted upon at the Regular Session Board Meeting on September 23rd.

VII. RECOMMENDED CHANGES TO POLICY 8.01 – DIRECTORS AND OFFICERSINDEMNIFICATION. FIRST OF TWO REQUIRED READINGSMr. Judson stated the Rules and Regulations Committee voted to move forward with theproposed changes to Policy 8.01 – Directors and Officers Indemnification. This will be the finalof two required readings.

The Board will vote at the September 23rd Regular Session Board Meeting.

VIII. ADDITIONAL RECOMMENDED CHANGES TO POLICY 8.01 – DIRECTORS ANDOFFICERS INDEMNIFICATION. FIRST OF TWO REQUIRED READINGS.

The Board will vote at the September 23rd Regular Session Board Meeting.

IX. RECOMMENDED CHANGES TO POLICY 1.02 – ESTABLISHING, CHANGING ORRESCINDING GOVERNING DOCUMENTS. FIRST OF TWO REQUIRED READINGS

The Board will vote at the September 23rd Regular Session Board Meeting

X. ANNOUNCEMENTSa. Board of Directors Regular Session – Thursday, September 23rd at 6:00 p.m. in the

Boardroom at the Country Club and via Live Stream.b. Lakes Joint Advisory Committee Meeting – Wednesday, October 13th at 2:00 p.m.

in the Boardroom at the Country Club and via Live Stream.c. Golf Joint Advisory Committee Meeting – Wednesday, October 13th at 4:00 p.m. in

the Boardroom at the Country Club and via Live Stream.d. Board of Directors GM Meeting – Thursday, October 14th at 2:30 p.m. in the

Boardroom at the Country Club. (Closed Meeting)e. Recreation Joint Advisory Committee Meeting – Monday, October 11th at 4:00

p.m. in the Boardroom at the Country Club and via Live Stream.f. Board of Directors Working Session – Thursday, October 21st at 9:00 a.m. in the

Boardroom at the Country Club and via Live Stream.g. Board of Directors Regular Session Meeting – Thursday, October 28th at 6:00 p.m.

in the Boardroom at the Country Club and via Live Stream.h. Rules & Regulations Committee Meeting – Thursday, December 2nd at 1:30 p.m. in

the Boardroom at the Country Club and via Live Stream.

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XI. ADJOURNMENTVice-Chair Barron adjourned the meeting at 9:10 a.m.

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NEWS

Five-Year Strategic PlanThe Board of Directors is launching an effort to develop a Five-Year Strategic Plan for the Bella Vista Property Owners Association. This Plan will be used to determine the directionality and funding of projects over the next five years. Member input is critical in the development of this Plan.

Member Survey On October 1st, a survey will be sent out to all Members in good standing with eleven questions. If the POA has your email address on file, you will receive an online survey. If you do not receive an online survey, please check your spam folder. If the POA does not have your email address on file, you will receive a paper survey in the mail. The survey should take less than five minutes to complete. All surveys are due by November 15.

Focus Groups In addition to the Member Survey, we will also conduct a series of four Focus Group meetings. While the Member Surveys are quantitative in getting member input, the Focus Groups will be more qualitative in getting more detailed member input. Here are the dates for the Focus Groups:

October 6 (Wednesday) at 6 p.m. at Riordan Hall October 12 (Tuesday) at 4 p.m. at Riordan Hall October 19 (Tuesday) at 10 a.m. at Riordan Hall November 1 (Monday) at 5 p.m. at Riordan Hall

Focus Group meetings will be heavily interactive. The meetings are anticipated to last for 90 minutes. We ask that Members only attend one of the four meetings.

Results The results of the Member Survey and Focus Groups will be fully and transparently shared with the membership in January. Date TBA.

Five-Year Strategic Plan The results of the Member Survey and Focus Groups will be used to develop a Five-Year Strategic Plan for the Bella Vista POA. Our goal is to roll out this Plan to the membership midway through 2022.

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From: Tom Judson, COO

To: Bella Vista POA Board of Directors

Date: August 20, 2021

Subject: Emergency Capital Projects – Golf Course Pumps

We have experienced a challenging year with our golf course irrigation pumps/wells. At the Country Club, two pumps were irreparably damaged by the flooding in the spring. We also lost the well at Highlands due to a lightning strike. While it is not uncommon to have to replace a single pump or well in a two-year period, in this case we lost three pumps/wells within a few months. When these pumps/wells fail, we must replace them as quickly as possible to avoid turf loss. Neither the Country Club pumps nor the Highlands well could be covered by insurance.

Currently, the expenses for these two pumps and well are in an operating account. Since these pumps/well are over the $10,000 capital threshold and the equipment is considered an improvement (not a repair), the expense needs to be shifted to a capital project.

The total cost for the two pumps at the Country Club came to $53,686.66. The single well at Highlands came to $32,058.28. Management is requesting the Board approve these two emergency projects. For both projects, the invoices have already been paid and the equipment installed.

Suggested Motions for the September 23rd Regular Meeting

I make a motion approving the emergency capital project for the replacement of two pumps at the Country Club for $53,686.66.

I make a motion approving the emergency capital project for the replacement of a well at Highlands for $32,058.28

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Date: September 14, 2021

Subject: Another Emergency Capital Project - Pump

Board Members,

We are having the unluckiest year with regards to our golf course pumps. We had a fourth pump fail, this one at Dogwood. It appears this failure was caused by old age. The cost to replace the pump is $20,000.

Where we normally have one pump fail every one or two years, this is our fourth this year. Two failures tied to flooding, one from a lightning strike, and one from old age.

I would like to add this to the Emergency Capital Projects request that is included in the Work Session packet.

Keith is anxious about getting this pump replaced as quickly as possible. While we are on the tail end of summer, we still have several hot days ahead of us before fall. Unless the Board objects, I would like to give Keith the go ahead since we don’t want to have a situation where we start losing turf due to an inability to water.

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Date: September 1, 2021

Subject: Recommendations from Charitable Giving Committee

The Charitable Giving Committee met today to formalize their 2021 recommendations to the Board. The Board gave the Committee a budget of $25,000 for the year. Provided below are their recommendations:

BV Recycling $7,000

BV Animal Shelter $4,250

BV Library Foundation $4,250

BV Community TV $3,500

Oasis of NWA $1,625

BV Foundation $1,625

NWA Women’s Chorus $1,250

BV Arts Council $600

BV Calico Cutups $900

Recommended Motion for the September 23rd Regular Meeting

I make a motion to approve the donation recommendations submitted by the Charitable Giving Committee.

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Longstanding Committee members Tony Licausi and John Rice have decided to step down from the Committee. The Committee voted to nominate Deb Sorensen as a replacement for one of the opening.

Assuming the Board approves Deb’s nomination, the Committee would have the following terms:

Tom Throne Term expires June 30, 2023

Bob Ritschel Term expires June 30, 2024

Deb Sorensen Term expires June 30, 2025

The Committee may add another member in April or May of next year. Keep in mind the Committee only meets once or twice per year, so they did not feel there was a rush to fill this opening.

Recommended Motion for the September 23rd Regular Meeting

I make a motion to name Deb Sorensen to the Charitable Giving Committee. On behalf of the entire Board, I would like to recognize Tony Licausi and John Rice for their years of service to our community.

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Financial Summary

To: Tom Judson, Board of Directors September 20, 2021 From: Stacie Higgins, Controller

Consolidated Financials were solid for August. EBITDA ended better than budget by $94K, making it another good month overall for the POA. Revenue was better than the budget for August by $287K. However, the COGS ended worse than the budget by $77K. This was primarily due to the increased revenue in Food and Beverage and a possible timing issue that is being researched. The overall revenue drove the gross profit to be better than budget by $210K. Operating Expenses ended worse than budget $116K with Payroll being worse than budget by $29K. YTD Payroll was worse than budget by $66K. August was the first month in 2021 that Payroll and Benefits exceeded the YTD budget.

POA

The POA ended August better than the budget for revenue by $157K. However, both COGS and Operating Expenses were worse than budget by $70K and $139K. EBITDA was worse than budget in August by $53K. YTD, the POA is still better than budget by $3.3M. ($2M is legal proceeds.)

Food and Beverage had another outstanding month ending August better than the budget for revenue by $96K. YTD Revenue is better than budget by $584K. However, YTD COGS was worse than budget by $207K. EBITDA for Food and Beverage was worse than budget by $32K for the month due to increased COGS for the month. They remain better than budget by $154K YTD. Payroll was over budget by $29K and Supplies $20K in August. These contributed to the EBITDA variance for the month. YTD EBITDA by the facility is still better than budget and positive for the year.

• Gear Garden +16K (no 2021 Budget)

• Highlands Restaurant +29K (31K Better than budget)

• Lakepoint Restaurant +32K (89K Better than budget)

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• BV Bar and Grill Restaurant +45K (55K Better than budget)

Golf Operations had a slower month in August. The heat was a factor impacting the afternoon golfers. Luckily, revenue was only worse than budget by $5K in August. The Pro shops were over budget by $7K while green fees were worse than budget by $11K. However, YTD revenue for Golf Operations continues to be better than budget by $189K. EBITDA was better than budget in August by $18K. This was driven primarily by taxes and permits being under $12K for August and a timing issue with the lease payment in August of $20K. Payroll was over budget by $6K and credit card fees $4K.

Other areas with significant revenue variances in August include Assessments that were better than budget by $26K. The RV Park was better than the budget by $10K and split between Member and Guest full-service. Facility Fees were better than budget by $20K. $10K of this was related to banquet income. The real estate market continues to be strong, driving transfer fees to be better than the budget by $25K, while foreclosed lots were worse than the budget by $19K due to timing.

The timing discussed earlier this year in the expenses has since been eliminated. In August, Payroll was worse than budget by $34K and was worse than budget YTD by $95K. This was a direct result of the substantial revenue YTD in the food and beverage area. Most expense categories were worse than the budget for August due to timing earlier in the year, causing expenses to be worse than budget by $139K. Additionally, YTD expenses are worse than budget by $90K, with Payroll being the most significant contributor.

EBITDA for the POA ended worse than budget in August by $53K. YTD the POA, continues to have a strong year ending August, better than budget by $3.3M ($2M in legal proceeds).

Water

The water department had a strong August. Water income ended better than budget by $85K and overall water revenue finished $130K better than budget. YTD water is $202K, better than budget. Unlike the POA, salary, wages, and employee benefit expenses continue to be better than both MTD and YTD

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budgets. They were $9K better than the budget for the month and $50K better than the budget for the year.

Overall, Operating expenses were better than budget by $24K for the month and $57K YTD. Most areas were better than budget YTD except for supplies (water meter installation materials) which were worse than budget YTD by $33K, Tools $7K, and Credit Card fees $13K.

Water had a great August, with EBITDA being better than budget by $147K. YTD water continues to have a solid year, with EBITDA being better than budget by $239K at the end of August.

Other

Cash balances on August 31, 2021, amounted to $7.3M. $3.3M of this is POA cash, $315K POA Reserve, and $3.6M is water cash. $4M of this has been invested in 4 different treasury security funds through Regions Bank's treasury program. An additional $2M is being moved from Arvest to Regions for investment. This will bring the balance in the final Arvest account down to $250K (FDIC insurance limit), and the account will be maintained at this threshold. The accounts at Region’s bank will be monitored to ensure the balances support day-to-day operations and excess is invested appropriately.

A balance of $1.2M is in the bond account to cover the required reserve and 2021 funding. Given the cash balance in the water department, consideration should be given to accelerating the bond repayment in 2021.

Intercompany Loan

The balance on 8/31/2021 was $2.6M, with an additional $10K paid in August 2021. The 2021 repayment commitment has been exceeded, with smaller payments being made monthly as other payments beyond the requirement in 2021. Given the POA is moving into the part of the year that historically has required borrowing. I would recommend that the board wait to decide on additional repayments until the end of the year and the 2022 budget is approved.

Overall, August was a solid month for the POA. Historically this is the start of the more cash challenging months related to revenue. However, given the

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strong revenue in F&B and the existing cash balances, this should not be an issue in 2021. Actual expenses to budget will likely continue to trend high as long as revenue is better than budget, especially in the payroll area.

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Prior Year Prior Year Year to Year

Actual Budget VAR Actual Actual Budget VAR Actual Actual Compared

Income

Assessments 909,019 883,151 25,868 923,506 7,172,788 7,044,040 128,748 6,634,785 538,003

City of Bella Vista 0 0 0 0 8,836 6,400 2,436 6,189 2,646

Food and Beverage 293,703 201,679 92,024 198,392 1,900,613 1,294,411 606,202 1,068,910 831,703

Golf 385,014 395,795 (10,781) 399,382 2,949,617 2,885,636 63,981 2,842,797 106,819

Pro Shop 72,600 65,864 6,736 66,974 456,732 331,645 125,087 330,995 125,737

Other Recreation 9,026 9,829 (803) 10,756 53,913 44,571 9,342 39,967 13,947

RV 47,609 37,525 10,084 53,268 439,902 368,079 71,823 335,550 104,352

Facility Use Fees 64,515 44,080 20,435 45,579 487,056 436,027 51,029 462,720 24,336

Boat 34,190 40,534 (6,344) 38,615 461,606 465,916 (4,310) 449,968 11,637

Investment Income 893 0 893 3,376 12,070 0 12,070 19,190 (7,120)

Water 894,627 809,445 85,182 859,868 5,815,450 5,705,159 110,291 5,917,305 (101,855)

Restricted Revenue 67 25 42 45 478 200 278 2,939 (2,461)

Lot Sales 0 18,500 (18,500) 39,928 261,609 147,000 114,609 206,472 55,137

Transfer Fees 78,325 53,663 24,662 55,625 753,389 429,137 324,252 430,175 323,214

Past Due Collections 26,849 19,754 7,095 32,951 269,464 160,629 108,835 147,759 121,705

Advertising Income 15,974 13,600 2,374 14,877 110,193 89,700 20,493 108,766 1,426

Rebates 1,380 0 1,380 501 2,578 0 2,578 80,994 (78,416)

POA Lot Inventory Valuation 580 1,000 (420) 4,133 7,395 15,500 (8,105) 11,645 (4,250)

Water Capital Buy In Fees 125,000 75,000 50,000 75,000 742,500 600,000 142,500 665,000 77,500

Water Late Fees 11,867 13,300 (1,433) 12,117 83,480 106,400 (22,920) 86,654 (3,174)

Gain / Loss Disposal Surplus Assets 0 0 0 0 30,000 0 30,000 41,124 (11,124)

Water Rent Income 5,980 5,980 0 5,806 47,840 47,840 0 46,448 1,392

Commissions 0 386 (386) 386 0 1,240 (1,240) 1,240 (1,240)

Cell Tower Rents 3,329 3,260 69 3,264 51,919 51,490 429 51,401 518

Legal Fees 3,542 1,000 2,542 2,297 23,843 8,000 15,843 12,727 11,117

Rents - Leases Facilities 0 1,000 (1,000) 1,000 7,000 8,000 (1,000) 8,000 (1,000)

Donations Received 0 0 0 0 8,800 40 8,760 21 8,779

NSF Fees 800 835 (35) 600 5,425 6,780 (1,355) 5,675 (250)

Inter Company Interest Income 521 3,723 (3,202) 4,230 4,331 30,244 (25,913) 34,056 (29,725)

Other 12,713 11,953 760 12,334 2,096,401 89,585 2,006,816 (38,491) 2,134,892

Total Income 2,998,124 2,710,881 287,243 2,864,809 24,265,227 20,373,669 3,891,558 20,010,983 4,254,244

Food and Beverage 142,130 72,277 (69,853) 70,387 664,428 458,273 (206,155) 396,873 (267,556)

F&B Merchandise 206 0 (206) 0 1,144 0 (1,144) 0 (1,144)

Water 240,872 233,954 (6,918) 221,703 1,649,154 1,629,296 (19,858) 1,648,547 (606)

Pro Shop 51,525 47,809 (3,716) 48,801 329,810 246,023 (83,787) 247,750 (82,060)

Recreation 6,022 9,372 3,350 12,135 58,372 51,882 (6,490) 45,144 (13,227)

Total Cost of Goods 440,755 363,412 (77,343) 353,026 2,702,907 2,385,474 (317,433) 2,338,314 (364,593)

Gross Profit 2,557,369 2,347,469 209,900 2,511,783 21,562,320 17,988,195 3,574,125 17,672,669 3,889,651

MTD August 2021 YTD August 2021

Bella Vista POA

Bella Vista Village POA Consolidated-All

For the Eight Months Ending August 31, 2021

MTD YTD

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Bella Vista POA

Bella Vista Village POA Consolidated-All


MTD YTD

Expenses

Salary and Wages 894,842 866,081 (28,761) 791,717 6,991,787 6,925,959 (65,829) 6,543,967 (447,820)

Employee Benefits 211,028 218,708 7,679 173,858 1,670,542 1,723,031 52,489 1,455,623 (214,919)

Memberships, Training and Travel 22,277 10,306 (11,971) 11,671 92,169 112,238 20,069 84,108 (8,062)

Supplies 170,907 141,532 (29,375) 137,410 987,067 900,211 (86,856) 943,689 (43,378)

Fuel and Oil 31,896 22,535 (9,361) 19,876 167,563 154,730 (12,833) 122,863 (44,700)

Equipment and Tools 18,887 3,720 (15,167) 40,085 120,445 85,413 (35,032) 174,231 53,786

Lease, Rents and Licenses 54,419 78,057 23,638 90,758 589,693 624,653 34,960 636,722 47,029

Maintenance and Repairs 93,174 69,343 (23,831) 111,061 701,643 659,281 (42,362) 736,778 35,135

Maintenance and Service Agreements 53,495 36,970 (16,525) 37,719 413,501 397,656 (15,845) 340,145 (73,356)

Outside Contracts 59,439 51,402 (8,037) 27,448 497,224 494,526 (2,698) 420,588 (76,636)

Professional Services 69,062 40,050 (29,012) 90,677 366,792 346,115 (20,677) 436,572 69,780

Insurance 64,169 64,349 180 56,892 504,565 514,792 10,227 456,638 (47,927)

Utilities 116,896 111,751 (5,145) 106,735 762,593 777,764 15,171 717,411 (45,182)

Taxes and Permits 93,436 61,431 (32,005) 61,313 473,067 429,286 (43,781) 430,869 (42,198)

Postage 13,514 15,560 2,046 14,412 91,618 118,780 27,162 100,582 8,964

Credit Card Fees & Interest Expense 49,285 38,670 (10,615) 42,474 366,338 308,916 (57,422) 303,405 (62,933)

Membership Elections 0 3,300 3,300 0 41,098 26,400 (14,698) 40,869 (229)

Advertising Expense 10,205 23,917 13,712 10,314 90,507 137,261 46,754 94,802 4,295

Bad Debts (15,297) 13,200 28,497 30,748 24,974 106,350 81,376 110,300 85,326

Uniforms 2,059 748 (1,311) 545 25,798 31,511 5,713 27,827 2,030

Donations 0 25,050 25,050 17,555 34 25,400 25,366 17,555 17,521

Discounts Earned (7,568) (7,006) 562 (7,905) (64,308) (49,006) 15,302 (45,066) 19,242

Inter Company Interest Exp 521 3,723 3,202 4,230 4,331 30,245 25,914 34,056 29,725

Other 7,167 4,728 (2,439) 5,738 44,300 49,096 4,796 45,412 1,112

Total Operating Expenses 2,013,815 1,898,124 (115,691) 1,875,331 14,963,343 14,930,607 (32,736) 14,229,947 (733,397)

EBITDA 543,554 449,345 94,209 636,452 6,598,977 3,057,587 3,541,389 3,442,722 3,156,254

Pre Depreciation Gross 543,554 449,345 94,209 636,452 6,598,977 3,057,587 3,541,389 3,442,722 3,156,254

Depreciation 259,780 260,849 1,069 267,003 2,048,698 2,056,869 8,171 2,162,700 114,002

Net Income / Cost of Operations 283,773 188,496 95,278 369,449 4,550,278 1,000,718 3,549,560 1,280,022 3,270,256

Balance Check 84 0 (84) 0 16 0 (16) 0 (16)

30



Income

Assessments 100 100 0 100 800 800 0 800 0

Investment Income 405 0 405 3,308 8,294 0 8,294 18,807 (10,513)

Water 894,627 809,445 85,182 859,868 5,815,450 5,705,159 110,291 5,917,305 (101,855)

Restricted Revenue 67 25 42 45 478 200 278 2,939 (2,461)

Water Capital Buy In Fees 125,000 75,000 50,000 75,000 742,500 600,000 142,500 665,000 77,500

Water Late Fees 11,867 13,300 (1,433) 12,117 83,480 106,400 (22,920) 86,654 (3,174)

Gain / Loss Disposal Surplus Assets 0 0 0 0 0 0 0 41,124 (41,124)

NSF Fees 350 360 (10) 150 2,150 2,880 (730) 1,875 275

Inter Company Interest Income 521 3,723 (3,202) 4,230 4,331 30,244 (25,913) 34,056 (29,725)

Other 7,653 8,480 (827) 8,827 58,446 68,623 (10,177) 53,812 4,635

Total Income 1,040,590 910,433 130,157 963,645 6,715,929 6,514,306 201,624 6,822,372 (106,442)

Water 240,872 233,954 (6,918) 221,703 1,649,154 1,629,296 (19,858) 1,648,547 (606)

Total Cost of Goods 240,872 233,954 (6,918) 221,703 1,649,154 1,629,296 (19,858) 1,648,547 (606)

Gross Profit 799,719 676,479 123,240 741,942 5,066,776 4,885,010 181,766 5,173,824 (107,049)

Expenses

Salary and Wages 86,304 91,861 5,557 80,924 726,627 755,884 29,257 688,725 (37,902)

Employee Benefits 35,088 37,971 2,883 20,626 285,157 306,781 21,624 180,359 (104,798)

Memberships, Training and Travel 2,404 2,195 (209) 612 8,907 17,086 8,179 5,018 (3,889)

Supplies 30,810 29,635 (1,175) 27,445 223,260 189,280 (33,980) 269,147 45,887

Fuel and Oil 5,896 4,400 (1,496) 3,490 37,280 31,600 (5,680) 28,040 (9,240)

Equipment and Tools 996 285 (711) 1,319 21,530 14,980 (6,550) 20,822 (708)

Lease, Rents and Licenses 6,261 5,967 (294) 6,073 50,660 47,736 (2,924) 48,652 (2,008)

Maintenance and Repairs 18,627 17,200 (1,427) 18,937 112,682 138,850 26,168 176,643 63,962


Outside Contracts 21,183 21,709 526 9,682 184,055 184,053 (2) 193,804 9,748

Professional Services 0 1,250 1,250 0 9,913 11,700 1,788 5,568 (4,345)

Insurance 15,423 15,459 36 13,597 121,202 123,672 2,470 109,285 (11,916)

Utilities 9,088 9,676 588 10,631 73,112 71,308 (1,804) 73,606 494


Postage 4,262 4,955 693 4,594 30,116 39,640 9,524 31,215 1,099

Credit Card Fees & Interest Expense 17,525 16,233 (1,292) 19,478 139,603 129,951 (9,652) 142,269 2,666

Bad Debts 1,100 200 (900) 128 475 1,600 1,125 1,855 1,380

Uniforms 0 0 0 431 3,582 3,800 218 4,391 809

Donations 0 25,000 25,000 17,500 0 25,000 25,000 17,500 17,500

Other (9,751) 0 9,751 84 (9,103) 0 9,103 655 9,758

Total Operating Expenses 281,509 305,126 23,617 255,081 2,243,546 2,300,453 56,907 2,201,242 (42,304)


Bella Vista POA

Water Utility Consolidated-All


MTD YTD

31




Bella Vista POA

Water Utility Consolidated-All


MTD YTD

EBITDA 518,209 371,353 146,856 486,861 2,823,230 2,584,557 238,673 2,972,582 (149,352)

Allocations - MAC 37,863 37,863 0 37,885 302,903 302,903 0 296,984 (5,919)

Allocations - F & A 70,996 70,996 0 70,678 567,966 567,966 0 558,304 (9,662)

Total Allocations 108,859 108,859 0 108,563 870,869 870,869 0 855,288 (15,581)

Pre Depreciation Gross 409,351 262,495 146,856 378,298 1,952,360 1,713,688 238,673 2,117,294 (164,934)

Depreciation 112,866 112,741 (125) 109,130 874,332 878,552 4,220 873,243 (1,088)

Net Income / Cost of Operations 296,485 149,754 146,731 269,168 1,078,029 835,136 242,893 1,244,051 (166,022)

32



Income

Assessments 908,919 883,051 25,868 923,406 7,171,988 7,043,240 128,748 6,633,985 538,003



Golf 385,014 395,795 (10,781) 399,382 2,949,617 2,885,636 63,981 2,842,797 106,819

Pro Shop 72,600 65,864 6,736 66,974 456,732 331,645 125,087 330,995 125,737

Other Recreation 9,026 9,829 (803) 10,756 53,913 44,571 9,342 39,967 13,947

RV 47,609 37,525 10,084 53,268 439,902 368,079 71,823 335,550 104,352


Boat 34,190 40,534 (6,344) 38,615 461,606 465,916 (4,310) 449,968 11,637

Investment Income 488 0 488 68 3,776 0 3,776 383 3,393

Lot Sales 0 18,500 (18,500) 39,928 261,609 147,000 114,609 206,472 55,137

Transfer Fees 78,325 53,663 24,662 55,625 753,389 429,137 324,252 430,175 323,214



Rebates 1,380 0 1,380 501 2,578 0 2,578 80,994 (78,416)


Gain / Loss Disposal Surplus Assets 0 0 0 0 30,000 0 30,000 0 30,000


Commissions 0 386 (386) 386 0 1,240 (1,240) 1,240 (1,240)

Cell Tower Rents 3,329 3,260 69 3,264 51,919 51,490 429 51,401 518

Legal Fees 3,542 1,000 2,542 2,297 23,843 8,000 15,843 12,727 11,117



NSF Fees 450 475 (25) 450 3,275 3,900 (625) 3,800 (525)

Other 5,060 3,473 1,587 3,506 2,037,955 20,962 2,016,993 (92,303) 2,130,257

Total Income 1,957,533 1,800,448 157,085 1,901,164 17,549,297 13,859,363 3,689,934 13,188,611 4,360,686


F&B Merchandise 206 0 (206) 0 1,144 0 (1,144) 0 (1,144)

Pro Shop 51,525 47,809 (3,716) 48,801 329,810 246,023 (83,787) 247,750 (82,060)

Recreation 6,022 9,372 3,350 12,135 58,372 51,882 (6,490) 45,144 (13,227)

Total Cost of Goods 199,883 129,458 (70,425) 131,323 1,053,753 756,178 (297,575) 689,766 (363,987)

Gross Profit 1,757,650 1,670,990 86,660 1,769,841 16,495,544 13,103,185 3,392,359 12,498,845 3,996,700

Expenses

Salary and Wages 808,538 774,219 (34,318) 710,794 6,265,161 6,170,075 (95,086) 5,855,242 (409,918)

Employee Benefits 175,940 180,736 4,796 153,232 1,385,385 1,416,250 30,865 1,275,263 (110,122)

Memberships, Training and Travel 19,873 8,111 (11,762) 11,059 83,262 95,152 11,890 79,090 (4,172)

Supplies 140,098 111,897 (28,201) 109,966 763,807 710,931 (52,876) 674,542 (89,265)

Fuel and Oil 26,000 18,135 (7,865) 16,385 130,284 123,130 (7,154) 94,824 (35,460)


Bella Vista POA

POA w/o Water-All


MTD YTD

33




Bella Vista POA

POA w/o Water-All


MTD YTD

Equipment and Tools 17,891 3,435 (14,456) 38,766 98,915 70,433 (28,482) 153,409 54,494


Maintenance and Repairs 74,547 52,143 (22,404) 92,124 588,961 520,431 (68,530) 560,135 (28,827)




Insurance 48,746 48,890 144 43,295 383,364 391,120 7,756 347,353 (36,011)

Utilities 107,808 102,075 (5,733) 96,104 689,481 706,456 16,975 643,805 (45,676)


Postage 9,252 10,605 1,353 9,818 61,502 79,140 17,638 69,367 7,865



Advertising Expense 10,205 23,917 13,712 10,314 90,507 137,261 46,754 94,802 4,295

Bad Debts (16,397) 13,000 29,397 30,620 24,499 104,750 80,251 108,445 83,947

Uniforms 2,059 748 (1,311) 113 22,216 27,711 5,495 23,436 1,220

Donations 0 50 50 55 34 400 366 55 21



Other 16,918 4,728 (12,190) 5,655 53,403 49,096 (4,307) 44,758 (8,646)

Total Operating Expenses 1,732,306 1,592,998 (139,307) 1,620,250 12,719,797 12,630,155 (89,643) 12,028,704 (691,093)

EBITDA 25,344 77,992 (52,647) 149,592 3,775,747 473,030 3,302,717 470,140 3,305,607

Allocations - MAC (37,863) (37,863) 0 (37,885) (302,903) (302,903) 0 (296,984) 5,919

Allocations - F & A (70,996) (70,996) 0 (70,678) (567,966) (567,966) 0 (558,304) 9,662

Total Allocations (108,859) (108,859) 0 (108,563) (870,869) (870,869) 0 (855,288) 15,581

Pre Depreciation Gross 134,203 186,850 (52,647) 258,155 4,646,616 1,343,899 3,302,717 1,325,428 3,321,188

Depreciation 146,914 148,108 1,194 157,873 1,174,367 1,178,317 3,950 1,289,457 115,090

Net Income / Cost of Operations (12,711) 38,742 (51,454) 100,281 3,472,250 165,582 3,306,667 35,971 3,436,278

Balance Check 84 0 (84) 0 16 0 (16) 0 (16)

34



Income


Facility Use Fees (1,964) (5,430) 3,466 (11,910) (85,393) (55,000) (30,393) (75,196) (10,197)

Rebates 1,380 0 1,380 501 2,578 0 2,578 983 1,595


Other 317 0 317 (170) 3,031 0 3,031 7,078 (4,047)

Total Income 287,645 191,390 96,255 181,604 1,798,274 1,212,686 585,588 975,108 823,166


F&B Merchandise 206 0 (206) 0 1,144 0 (1,144) 0 (1,144)

Total Cost of Goods 138,539 69,274 (69,265) 66,773 651,555 443,038 (208,517) 383,353 (268,202)

Gross Profit 149,106 122,116 26,990 114,831 1,146,719 769,648 377,071 591,755 554,964

Expenses

Salary and Wages 109,424 80,225 (29,199) 76,016 790,532 676,553 (113,978) 644,466 (146,066)

Employee Benefits 17,257 9,951 (7,306) 11,706 123,468 83,645 (39,822) 95,594 (27,874)

Memberships, Training and Travel 1,571 395 (1,176) 1,250 6,407 3,355 (3,052) 9,252 2,846

Supplies 29,308 9,325 (19,983) 9,941 123,314 70,350 (52,964) 62,650 (60,664)

Fuel and Oil 0 0 0 40 359 0 (359) 469 110

Equipment and Tools 0 550 550 0 1,407 3,900 2,493 4,027 2,620

Lease, Rents and Licenses 104 135 31 785 1,135 1,080 (55) 3,787 2,652

Maintenance and Repairs 386 400 14 0 2,653 2,400 (253) 2,311 (343)

Maintenance and Service Agreements 965 695 (270) 620 3,856 5,560 1,704 4,435 579

Outside Contracts 358 150 (208) 247 2,326 1,550 (776) 2,142 (184)

Insurance 621 425 (196) 499 4,731 3,400 (1,331) 3,848 (883)

Utilities 2,381 3,760 1,379 4,865 19,574 29,550 9,976 33,472 13,898

Taxes and Permits 0 62 62 0 6,936 5,046 (1,890) 5,865 (1,071)

Postage 0 0 0 0 152 0 (152) 69 (83)


Advertising Expense 979 1,625 646 (1,103) 21,909 14,000 (7,909) 8,479 (13,430)

Bad Debts 0 0 0 0 0 750 750 0 0

Uniforms 228 300 72 41 3,471 4,600 1,129 4,084 613

Other 243 0 (243) 136 981 0 (981) 2,039 1,057

Total Operating Expenses 172,290 113,463 (58,826) 109,392 1,168,161 945,262 (222,899) 915,721 (252,440)

EBITDA (23,184) 8,653 (31,836) 5,439 (21,441) (175,614) 154,173 (323,966) 302,524

Pre Depreciation Gross (23,184) 8,653 (31,836) 5,439 (21,441) (175,614) 154,173 (323,966) 302,524

Depreciation 614 402 (212) 403 3,539 3,216 (323) 3,226 (313)


Bella Vista POA

Food and Beverage Division - Tommy Lee-All


MTD YTD

35




Bella Vista POA

Food and Beverage Division - Tommy Lee-All


MTD YTD

Net Income / Cost of Operations (23,798) 8,251 (32,049) 5,036 (24,980) (178,830) 153,850 (327,192) 302,211

Balance Check 84 0 (84) 0 16 0 (16) 0 (16)

36



Income


Total Income 0 1,000 (1,000) 1,000 7,000 8,000 (1,000) 8,000 (1,000)

Gross Profit 0 1,000 (1,000) 1,000 7,000 8,000 (1,000) 8,000 (1,000)

Expenses

Salary and Wages 10 0 (10) 0 10 0 (10) 98 87

Employee Benefits 1 0 (1) 0 1 0 (1) 12 12

Memberships, Training and Travel 137 55 (82) 0 900 440 (460) 455 (445)

Supplies 153 600 447 3,659 3,512 5,200 1,688 20,129 16,617

Equipment and Tools 0 0 0 25,474 16,392 0 (16,392) 19,538 3,147

Maintenance and Repairs 6,880 7,340 460 6,518 55,049 55,820 771 56,673 1,625


Outside Contracts 5,114 2,738 (2,376) 0 26,293 20,170 (6,123) 6,127 (20,167)

Insurance 0 0 (0) 0 0 0 (0) 1 1

Utilities 16,849 16,279 (570) 10,268 102,755 122,392 19,637 77,502 (25,252)

Taxes and Permits 0 29 29 0 713 232 (481) 373 (339)

Advertising Expense 0 0 0 88 0 0 0 88 88

Other 3,739 0 (3,739) 0 3,739 0 (3,739) 0 (3,739)

Total Operating Expenses 48,031 32,806 (15,225) 53,756 269,944 248,874 (21,070) 222,697 (47,247)

EBITDA (48,031) (31,806) (16,225) (52,756) (262,944) (240,874) (22,070) (214,697) (48,247)

Allocations - F & A (3,085) (3,085) 0 (3,107) (24,683) (24,683) 0 (24,122) 561

Total Allocations (3,085) (3,085) 0 (3,107) (24,683) (24,683) 0 (24,122) 561

Pre Depreciation Gross (44,946) (28,721) (16,225) (49,649) (238,261) (216,191) (22,070) (190,575) (47,686)

Depreciation 48,870 49,412 542 49,045 392,890 392,392 (498) 391,281 (1,610)

Net Income / Cost of Operations (93,816) (78,133) (15,683) (98,694) (631,151) (608,583) (22,568) (581,855) (49,296)


Bella Vista POA

Clubhouses-All


MTD YTD

37



Income

Other 0 0 0 0 0 0 0 79 (79)

Total Income 0 0 0 0 0 0 0 79 (79)

Gross Profit 0 0 0 0 0 0 0 79 (79)

Expenses

Salary and Wages 159,797 174,627 14,830 155,655 1,210,995 1,315,689 104,693 1,216,886 5,890


Memberships, Training and Travel 808 0 (808) 510 3,155 4,990 1,835 5,188 2,033

Supplies 81,673 76,773 (4,900) 71,695 457,186 451,088 (6,098) 423,631 (33,555)

Fuel and Oil 15,931 9,200 (6,731) 9,985 67,364 63,250 (4,114) 47,010 (20,354)

Equipment and Tools 525 475 (50) 2,697 4,100 3,400 (700) 12,935 8,835

Lease, Rents and Licenses 45,938 46,800 862 59,154 363,667 374,400 10,733 376,700 13,034

Maintenance and Repairs 46,246 18,465 (27,781) 52,623 323,634 196,380 (127,254) 312,780 (10,854)

Maintenance and Service Agreements 734 712 (22) 678 8,384 5,846 (2,538) 7,032 (1,352)

Outside Contracts 900 37 (863) 1,080 2,567 6,356 3,789 6,910 4,343

Professional Services 0 550 550 0 0 3,065 3,065 0 0

Insurance 916 995 79 953 7,179 7,960 781 8,039 861

Utilities 30,923 29,849 (1,074) 28,389 165,354 167,773 2,419 153,152 (12,203)

Taxes and Permits 4,164 816 (3,348) 613 17,552 6,748 (10,804) 7,714 (9,838)

Postage 0 20 20 33 41 260 219 124 82

Uniforms 488 0 (488) (11) 8,302 9,050 748 8,180 (122)

Other 0 0 0 0 224 0 (224) 0 (224)

Total Operating Expenses 407,151 379,914 (27,237) 401,332 2,783,729 2,774,235 (9,494) 2,725,570 (58,160)

EBITDA (407,151) (379,914) (27,237) (401,332) (2,783,729) (2,774,235) (9,494) (2,725,491) (58,238)

Pre Depreciation Gross (407,151) (379,914) (27,237) (401,332) (2,783,729) (2,774,235) (9,494) (2,725,491) (58,238)

Depreciation 46,030 47,103 1,073 47,374 373,714 375,891 2,177 393,268 19,554

Net Income / Cost of Operations (453,181) (427,017) (26,164) (448,707) (3,157,444) (3,150,126) (7,317) (3,118,759) (38,685)


Bella Vista POA

Golf Maintenance - Keith Ihms-All


MTD YTD

38



Income

Food and Beverage 0 0 0 (134) 0 0 0 (134) 134

Golf 385,014 395,795 (10,781) 399,382 2,949,617 2,885,636 63,981 2,842,797 106,819

Pro Shop 72,600 65,864 6,736 66,974 456,732 331,645 125,087 330,995 125,737

Commissions 0 386 (386) 386 0 1,240 (1,240) 1,240 (1,240)

Other 2,246 2,539 (293) 2,568 15,668 14,301 1,367 14,608 1,060

Total Income 459,860 464,584 (4,724) 469,174 3,422,016 3,232,822 189,194 3,189,505 232,511

Food and Beverage 0 0 0 0 0 0 0 (143) (143)

Pro Shop 51,525 47,809 (3,716) 48,801 329,810 246,023 (83,787) 247,750 (82,060)

Total Cost of Goods 51,525 47,809 (3,716) 48,801 329,810 246,023 (83,787) 247,606 (82,203)

Gross Profit 408,335 416,775 (8,440) 420,374 3,092,206 2,986,799 105,407 2,941,899 150,307

Expenses

Salary and Wages 109,610 103,728 (5,882) 95,228 756,311 797,158 40,847 751,260 (5,052)

Employee Benefits 13,437 12,672 (765) 11,431 93,176 95,460 2,284 90,576 (2,600)

Memberships, Training and Travel 2,665 1,610 (1,055) 1,425 6,466 15,482 9,016 7,699 1,233

Supplies 4,254 6,203 1,949 2,965 31,759 26,777 (4,982) 24,513 (7,246)

Fuel and Oil 109 120 11 122 1,057 960 (97) 894 (163)

Equipment and Tools 4,880 315 (4,565) 30 12,711 10,070 (2,641) 17,160 4,449

Lease, Rents and Licenses 297 20,169 19,872 20,054 140,914 161,352 20,438 166,994 26,080

Maintenance and Repairs 1,198 1,956 758 3,722 14,973 14,897 (76) 17,319 2,346

Maintenance and Service Agreements 8,099 7,923 (176) 8,122 66,996 57,284 (9,712) 57,663 (9,333)

Outside Contracts 3,404 4,591 1,187 5,197 25,430 27,260 1,830 30,407 4,977

Professional Services 0 0 0 0 0 1,300 1,300 0 0

Insurance 615 657 42 599 4,509 5,256 747 5,040 531

Utilities 12,392 11,769 (623) 12,768 88,719 80,895 (7,824) 86,379 (2,339)

Taxes and Permits 43 12,277 12,234 12,340 6,403 17,964 11,561 18,669 12,266

Postage 0 30 30 0 159 111 (48) 110 (49)


Advertising Expense 0 3,550 3,550 0 163 20,975 20,812 0 (163)

Uniforms 587 448 (139) 0 587 2,736 2,149 1,774 1,187

Donations 0 0 0 0 9 0 (9) 0 (9)

Discounts Earned 0 (6) (6) 0 0 (6) (6) 0 0

Other (3,834) 217 4,051 (46) (3,255) 2,677 5,932 170 3,425

Total Operating Expenses 172,375 199,292 26,916 186,127 1,345,996 1,418,688 72,692 1,355,207 9,211

EBITDA 235,960 217,483 18,477 234,247 1,746,210 1,568,111 178,099 1,586,692 159,518


Bella Vista POA

Golf Operations - Darryl Muldoon-All


MTD YTD

39




Bella Vista POA

Golf Operations - Darryl Muldoon-All


MTD YTD

Pre Depreciation Gross 235,960 217,483 18,477 234,247 1,746,210 1,568,111 178,099 1,586,692 159,518

Depreciation 4,069 4,314 245 4,014 32,126 32,646 520 32,042 (84)

Net Income / Cost of Operations 231,891 213,169 18,721 230,233 1,714,084 1,535,465 178,619 1,554,650 159,434

40



Income

Food and Beverage 5,700 4,759 941 5,220 30,435 25,995 4,440 26,109 4,326

Other Recreation 8,397 9,469 (1,072) 10,486 48,009 41,311 6,698 38,208 9,802

RV 46,871 36,725 10,146 29,718 335,689 243,279 92,410 209,303 126,387


Boat 30,179 34,834 (4,655) 34,407 216,640 203,291 13,349 202,678 13,962

Other 498 934 (436) 1,139 6,808 6,661 147 7,040 (231)

Total Income 124,630 103,914 20,716 104,050 843,602 663,791 179,811 678,297 165,305

Food and Beverage 3,705 2,753 (952) 2,562 13,286 14,285 999 12,983 (303)

Recreation 4,319 7,702 3,383 10,165 35,818 35,507 (311) 31,190 (4,629)

Total Cost of Goods 8,024 10,455 2,431 12,727 49,105 49,792 687 44,173 (4,931)

Gross Profit 116,606 93,459 23,147 91,323 794,498 613,999 180,499 634,124 160,374

Expenses

Salary and Wages 94,626 81,131 (13,495) 71,519 582,140 555,949 (26,191) 497,745 (84,395)

Employee Benefits 11,405 8,964 (2,441) 8,076 70,824 61,282 (9,543) 59,003 (11,822)

Memberships, Training and Travel 2,939 1,172 (1,767) 779 6,299 13,488 7,189 8,449 2,151

Supplies 14,588 3,401 (11,187) 5,328 60,338 54,831 (5,507) 44,674 (15,664)

Fuel and Oil 274 145 (129) 111 2,119 1,445 (674) 1,124 (994)

Equipment and Tools 7,754 300 (7,454) 210 18,768 36,158 17,390 43,544 24,776

Lease, Rents and Licenses 76 111 35 172 954 885 (69) 1,622 668

Maintenance and Repairs 14,078 7,640 (6,438) 8,094 74,678 126,843 52,165 64,525 (10,153)

Maintenance and Service Agreements 7,615 7,392 (223) 7,393 55,500 53,307 (2,193) 46,400 (9,101)

Outside Contracts 396 2,067 1,671 489 27,927 27,392 (535) 17,949 (9,978)

Insurance 470 428 (42) 426 3,163 3,424 261 3,449 286

Utilities 29,605 25,304 (4,301) 24,865 180,696 180,942 246 167,970 (12,726)

Taxes and Permits 78 145 67 0 3,248 4,485 1,237 3,836 588

Postage 0 0 0 0 0 0 0 46 46

Credit Card Fees & Interest Expense 3,389 2,483 (906) 2,704 24,828 19,650 (5,178) 18,614 (6,214)

Advertising Expense 0 9,500 9,500 0 9,120 9,500 380 0 (9,120)

Uniforms 296 0 (296) 84 1,475 2,125 650 940 (535)

Other 1,657 1,510 (147) 617 5,775 7,755 1,980 3,756 (2,019)

Total Operating Expenses 189,246 151,693 (37,553) 130,866 1,127,851 1,159,461 31,610 983,645 (144,207)

EBITDA (72,640) (58,234) (14,406) (39,542) (333,353) (545,462) 212,109 (349,520) 16,167

Pre Depreciation Gross (72,640) (58,234) (14,406) (39,542) (333,353) (545,462) 212,109 (349,520) 16,167

Depreciation 31,169 29,807 (1,362) 30,065 231,726 233,592 1,866 242,546 10,820


Bella Vista POA

Rec Division - Joan Glubczynski-All


MTD YTD

41




Bella Vista POA

Rec Division - Joan Glubczynski-All


MTD YTD

Net Income / Cost of Operations (103,809) (88,041) (15,768) (69,608) (565,079) (779,054) 213,974 (592,066) 26,987

42



Income

City of Bella Vista 0 0 0 0 0 0 0 383 (383)

Gain / Loss Disposal Surplus Assets 0 0 0 0 30,000 0 30,000 0 30,000

Cell Tower Rents 3,329 3,260 69 3,264 51,919 51,490 429 51,401 518

Other 2,000 0 2,000 0 2,740 0 2,740 56 2,683

Total Income 5,329 3,260 2,069 3,264 84,659 51,490 33,169 51,841 32,818

Gross Profit 5,329 3,260 2,069 3,264 84,659 51,490 33,169 51,841 32,818

Expenses

Salary and Wages 95,774 105,541 9,767 95,140 821,045 881,324 60,279 856,967 35,921

Employee Benefits 11,297 13,803 2,506 11,307 101,378 113,618 12,241 105,562 4,184

Memberships, Training and Travel 440 0 (440) 331 711 1,075 364 519 (193)

Supplies 1,123 1,720 597 1,105 7,668 12,195 4,527 6,682 (986)

Fuel and Oil 6,667 5,790 (877) 4,261 42,532 40,390 (2,142) 32,538 (9,994)

Equipment and Tools 416 375 (41) 105 4,241 3,345 (896) 6,705 2,463

Lease, Rents and Licenses 41 20 (21) 18 286 160 (126) 153 (133)

Maintenance and Repairs 4,920 9,285 4,365 14,463 67,601 79,520 11,919 65,781 (1,820)

Maintenance and Service Agreements 614 631 17 590 6,630 6,394 (236) 4,134 (2,495)

Outside Contracts 7,581 225 (7,356) 210 8,900 15,300 6,400 4,790 (4,110)

Insurance 898 844 (54) 832 7,611 6,752 (859) 8,597 986

Utilities 4,081 3,989 (92) 3,084 29,394 29,459 65 25,703 (3,690)

Taxes and Permits 1,592 954 (638) 180 4,001 4,722 721 5,335 1,334

Advertising Expense 0 0 0 0 (2,304) 0 2,304 0 2,304

Uniforms 0 0 0 0 3,811 5,250 1,439 3,376 (435)

Other 0 0 0 334 1,315 350 (965) 742 (573)

Total Operating Expenses 135,444 143,177 7,732 131,959 1,104,820 1,199,855 95,035 1,127,583 22,763

EBITDA (130,115) (139,917) 9,802 (128,695) (1,020,161) (1,148,365) 128,204 (1,075,742) 55,581

Allocations - MAC (37,863) (37,863) 0 (37,885) (302,903) (302,903) 0 (296,984) 5,919


Pre Depreciation Gross (92,252) (102,054) 9,802 (90,810) (717,258) (845,462) 128,204 (778,758) 61,500

Depreciation 5,593 5,730 137 9,182 53,822 51,002 (2,820) 81,892 28,070

Net Income / Cost of Operations (97,845) (107,784) 9,939 (99,992) (771,080) (896,464) 125,384 (860,650) 89,570


Bella Vista POA

Maint and Const Division - Mike Taggart-All


MTD YTD

43



Income


Food and Beverage 90 100 (10) 124 920 730 190 693 227

Other Recreation 629 360 269 270 5,904 3,260 2,644 1,759 4,145

RV 738 800 (62) 23,550 104,213 124,800 (20,587) 126,247 (22,034)

Facility Use Fees 5,359 6,195 (836) 8,287 58,887 49,450 9,437 44,634 14,253

Boat 4,011 5,700 (1,689) 4,208 244,966 262,625 (17,659) 247,290 (2,324)

Donations Received 0 0 0 0 0 40 (40) 21 (21)

Other 0 0 0 (41) 248 0 248 (264) 512

Total Income 10,827 13,155 (2,328) 36,398 423,972 447,305 (23,333) 426,186 (2,214)

Food and Beverage 92 250 158 1,052 731 950 219 679 (52)

Recreation 1,703 1,670 (33) 1,969 22,553 16,375 (6,178) 13,955 (8,599)

Total Cost of Goods 1,795 1,920 125 3,021 23,284 17,325 (5,959) 14,634 (8,650)

Gross Profit 9,032 11,235 (2,203) 33,377 400,688 429,980 (29,292) 411,552 (10,864)

Expenses

Salary and Wages 35,408 36,716 1,307 32,252 279,143 293,421 14,279 268,993 (10,150)


Memberships, Training and Travel 495 0 (495) 0 1,243 665 (578) 332 (910)

Supplies 2,887 8,425 5,538 3,416 27,215 39,280 12,065 43,494 16,280

Fuel and Oil 2,773 2,705 (68) 1,751 15,229 15,685 456 11,712 (3,517)

Equipment and Tools 848 250 (598) 5,022 4,386 2,650 (1,736) 15,243 10,857

Lease, Rents and Licenses 41 25 (16) 18 205 200 (5) 153 (52)

Maintenance and Repairs (98) 6,675 6,773 3,139 36,366 40,965 4,599 33,792 (2,574)


Outside Contracts 1,528 2,330 802 1,114 15,123 17,590 2,467 12,443 (2,680)

Insurance 210 170 (40) 198 1,658 1,360 (298) 2,045 387

Utilities 3,668 3,275 (393) 3,047 32,883 30,735 (2,148) 28,694 (4,189)

Taxes and Permits 1,141 151 (990) 54 3,090 1,608 (1,482) 2,245 (845)

Postage 0 20 20 0 13 160 147 0 (13)

Credit Card Fees & Interest Expense 353 410 57 284 14,719 12,740 (1,979) 12,924 (1,794)

Uniforms 0 0 0 0 3,153 2,650 (503) 2,964 (188)

Other (3) 0 3 0 (653) 0 653 30 683

Total Operating Expenses 56,990 70,275 13,285 56,730 495,266 518,092 22,826 482,878 (12,388)

EBITDA (47,958) (59,040) 11,082 (23,353) (94,578) (88,112) (6,466) (71,326) (23,253)

Pre Depreciation Gross (47,958) (59,040) 11,082 (23,353) (94,578) (88,112) (6,466) (71,326) (23,253)


Bella Vista POA

Lakes and Parks Division - Rick Echols-All


MTD YTD

44




Bella Vista POA

Lakes and Parks Division - Rick Echols-All


MTD YTD

Depreciation 7,596 8,333 737 8,387 63,618 65,090 1,472 66,868 3,251

Net Income / Cost of Operations (55,554) (67,373) 11,819 (31,740) (158,196) (153,202) (4,994) (138,194) (20,002)

45



Income

Assessments 908,919 883,051 25,868 923,406 7,171,988 7,043,240 128,748 6,633,985 538,003


Investment Income 488 0 488 68 3,776 0 3,776 383 3,393

Lot Sales 0 18,500 (18,500) 39,928 261,609 147,000 114,609 206,472 55,137

Transfer Fees 78,325 53,663 24,662 55,625 753,389 429,137 324,252 430,175 323,214



Rebates 0 0 0 0 0 0 0 80,011 (80,011)



Legal Fees 3,542 1,000 2,542 2,297 23,843 8,000 15,843 12,727 11,117

NSF Fees 450 475 (25) 450 3,275 3,900 (625) 3,800 (525)

Other 0 0 0 10 2,009,460 0 2,009,460 (120,899) 2,130,360

Total Income 1,069,241 1,023,145 46,096 1,105,673 10,969,774 8,243,269 2,726,505 7,859,595 3,110,179

Gross Profit 1,069,241 1,023,145 46,096 1,105,673 10,969,774 8,243,269 2,726,505 7,859,595 3,110,179

Expenses

Salary and Wages 203,889 192,251 (11,638) 184,984 1,824,985 1,649,980 (175,005) 1,618,829 (206,155)


Memberships, Training and Travel 10,819 4,879 (5,940) 6,766 58,082 55,657 (2,425) 47,195 (10,887)

Supplies 6,113 5,450 (663) 11,856 52,816 51,210 (1,606) 48,769 (4,047)

Fuel and Oil 246 175 (71) 116 1,623 1,400 (223) 1,076 (548)

Equipment and Tools 3,468 1,170 (2,298) 5,228 36,911 10,910 (26,001) 34,257 (2,654)


Maintenance and Repairs 937 382 (555) 3,564 14,007 3,606 (10,401) 6,953 (7,054)

Maintenance and Service Agreements 12,726 9,302 (3,424) 8,461 127,388 151,038 23,650 110,253 (17,134)



Insurance 45,017 45,371 354 39,788 354,513 362,968 8,455 316,333 (38,180)

Utilities 7,910 7,850 (60) 8,818 70,107 64,710 (5,397) 70,933 826


Postage 9,252 10,535 1,283 9,785 61,136 78,609 17,473 69,018 7,882



Advertising Expense 9,226 9,242 16 11,330 61,619 92,786 31,167 86,235 24,616

Bad Debts (16,397) 13,000 29,397 30,620 24,499 104,000 79,501 108,445 83,947

Uniforms 459 0 (459) 0 1,417 1,300 (117) 2,119 702

Donations 0 50 50 55 25 400 375 55 31



Bella Vista POA

F & A Division-All


MTD YTD

46




Bella Vista POA

F & A Division-All


MTD YTD


Other 15,117 3,001 (12,116) 4,614 45,276 38,314 (6,962) 38,020 (7,256)

Total Operating Expenses 550,778 502,378 (48,400) 550,089 4,424,030 4,365,688 (58,342) 4,215,405 (208,625)

EBITDA 518,463 520,767 (2,303) 555,584 6,545,744 3,877,581 2,668,163 3,644,190 2,901,554

Allocations - F & A (67,910) (67,910) 0 (67,571) (543,283) (543,283) 0 (534,182) 9,101


Pre Depreciation Gross 586,374 588,677 (2,303) 623,155 7,089,027 4,420,864 2,668,163 4,178,372 2,910,655

Depreciation 2,973 3,007 34 9,401 22,931 24,488 1,557 78,335 55,404

Net Income / Cost of Operations 583,401 585,670 (2,269) 613,754 7,066,096 4,396,376 2,669,720 4,100,037 2,966,059

47

DESCRIPTION Prior Year Prior Year Prior Year

Actual Budget VAR Actual Actual Budget VAR Actual Compared

Revenue 1,957,243 1,800,448 156,795 1,901,164 17,548,137 13,859,363 3,688,774 13,188,611 4,359,526

Cost of Sales 199,677 129,458 (70,219) 131,323 1,052,609 756,178 (296,431) 689,766 (362,843)

Payroll 808,538 774,219 (34,319) 710,794 6,265,161 6,170,075 (95,086) 5,855,242 (409,919)

Expenses 923,768 818,779 (104,989) 909,456 6,454,636 6,460,080 5,444 6,173,462 (281,174)

EBITDA 25,261 77,992 (52,731) 149,592 3,775,730 473,030 3,302,700 470,140 3,305,590

Allocations (108,859) (108,859) 0 (108,563) (870,869) (870,869) 0 (855,288) 15,581

Depreciation 146,914 148,108 1,194 157,873 1,174,367 1,178,317 3,950 1,289,457 115,090

Net Income (12,794) 38,743 (51,537) 100,282 3,472,232 165,582 3,306,650 35,971 3,436,261

RECAP DIVISIONAL INCOME STATEMENTS

POA w/o Water-


Month To Date Year To Date

48



Revenue 287,355 191,390 95,965 181,604 1,797,114 1,212,686 584,428 975,108 822,006

Cost of Sales 138,333 69,274 (69,059) 66,773 650,411 443,038 (207,373) 383,353 (267,058)

Payroll 109,424 80,225 (29,199) 76,016 790,532 676,553 (113,979) 644,466 (146,066)

Expenses 62,866 33,238 (29,628) 33,376 377,629 268,709 (108,920) 271,255 (106,374)

EBITDA (23,267) 8,653 (31,920) 5,439 (21,458) (175,614) 154,156 (323,966) 302,508

Allocations 0 0 0 0 0 0 0 0 0

Depreciation 614 402 (212) 403 3,539 3,216 (323) 3,226 (313)

Net Income (23,881) 8,251 (32,132) 5,036 (24,997) (178,830) 153,833 (327,192) 302,195


Food and Beverage Division - Tommy Lee-



49



Revenue 0 1,000 (1,000) 1,000 7,000 8,000 (1,000) 8,000 (1,000)

Cost of Sales 0 0 0 0 0 0 0 0 0

Payroll 10 0 (10) 0 10 0 (10) 98 88

Expenses 48,021 32,806 (15,215) 53,756 269,934 248,874 (21,060) 222,599 (47,335)

EBITDA (48,031) (31,806) (16,225) (52,756) (262,944) (240,874) (22,070) (214,697) (48,247)

Allocations (3,085) (3,085) 0 (3,107) (24,683) (24,683) 0 (24,122) 561

Depreciation 48,870 49,412 542 49,045 392,890 392,392 (498) 391,281 (1,609)

Net Income (93,816) (78,133) (15,683) (98,694) (631,151) (608,583) (22,568) (581,856) (49,295)


Clubhouses-



50



Revenue 0 0 0 0 0 0 0 79 (79)

Cost of Sales 0 0 0 0 0 0 0 0 0

Payroll 159,797 174,627 14,830 155,655 1,210,995 1,315,689 104,694 1,216,886 5,891

Expenses 247,354 205,287 (42,067) 245,677 1,572,734 1,458,546 (114,188) 1,508,684 (64,050)

EBITDA (407,151) (379,914) (27,237) (401,332) (2,783,729) (2,774,235) (9,494) (2,725,491) (58,238)

Allocations 0 0 0 0 0 0 0 0 0

Depreciation 46,030 47,103 1,073 47,374 373,714 375,891 2,177 393,268 19,554

Net Income (453,181) (427,017) (26,164) (448,706) (3,157,443) (3,150,126) (7,317) (3,118,759) (38,684)


Golf Maintenance - Keith Ihms-



51



Revenue 459,860 464,584 (4,724) 469,174 3,422,016 3,232,822 189,194 3,189,505 232,511

Cost of Sales 51,525 47,809 (3,716) 48,801 329,810 246,023 (83,787) 247,606 (82,204)

Payroll 109,610 103,728 (5,882) 95,228 756,311 797,158 40,847 751,260 (5,051)

Expenses 62,765 95,564 32,799 90,899 589,685 621,530 31,845 603,947 14,262

EBITDA 235,960 217,483 18,477 234,247 1,746,210 1,568,111 178,099 1,586,692 159,518

Allocations 0 0 0 0 0 0 0 0 0

Depreciation 4,069 4,314 245 4,014 32,126 32,646 520 32,042 (84)

Net Income 231,891 213,169 18,722 230,233 1,714,084 1,535,465 178,619 1,554,650 159,434


Golf Operations - Darryl Muldoon-



52



Revenue 124,630 103,914 20,716 104,050 843,602 663,791 179,811 678,297 165,305

Cost of Sales 8,024 10,455 2,431 12,727 49,105 49,792 687 44,173 (4,932)

Payroll 94,626 81,131 (13,495) 71,519 582,140 555,949 (26,191) 497,745 (84,395)

Expenses 94,620 70,562 (24,058) 59,347 545,711 603,512 57,801 485,900 (59,811)

EBITDA (72,640) (58,234) (14,406) (39,542) (333,353) (545,462) 212,109 (349,520) 16,167

Allocations 0 0 0 0 0 0 0 0 0

Depreciation 31,169 29,807 (1,362) 30,065 231,726 233,592 1,866 242,546 10,820

Net Income (103,809) (88,041) (15,768) (69,607) (565,079) (779,054) 213,975 (592,066) 26,987


Rec Division - Joan Glubczynski-



53



Revenue 5,329 3,260 2,069 3,264 84,659 51,490 33,169 51,841 32,818

Cost of Sales 0 0 0 0 0 0 0 0 0

Payroll 95,774 105,541 9,767 95,140 821,045 881,324 60,279 856,967 35,922

Expenses 39,670 37,636 (2,034) 36,819 283,775 318,531 34,756 270,616 (13,159)

EBITDA (130,115) (139,917) 9,802 (128,695) (1,020,161) (1,148,365) 128,204 (1,075,742) 55,581

Allocations (37,863) (37,863) 0 (37,885) (302,903) (302,903) 0 (296,984) 5,919

Depreciation 5,593 5,730 137 9,182 53,822 51,002 (2,820) 81,892 28,070

Net Income (97,845) (107,784) 9,939 (99,992) (771,080) (896,464) 125,384 (860,650) 89,570


Maint and Const Division - Mike Taggart-



54



Revenue 10,827 13,155 (2,328) 36,398 423,972 447,305 (23,333) 426,186 (2,214)

Cost of Sales 1,795 1,920 125 3,021 23,284 17,325 (5,959) 14,634 (8,650)

Payroll 35,408 36,716 1,308 32,252 279,143 293,421 14,278 268,993 (10,150)

Expenses 21,582 33,559 11,977 24,478 216,123 224,671 8,548 213,885 (2,238)

EBITDA (47,958) (59,040) 11,082 (23,353) (94,578) (88,112) (6,466) (71,326) (23,252)

Allocations 0 0 0 0 0 0 0 0 0

Depreciation 7,596 8,333 737 8,387 63,618 65,090 1,472 66,868 3,250

Net Income (55,554) (67,373) 11,819 (31,740) (158,196) (153,202) (4,994) (138,194) (20,002)


Lakes and Parks Division - Rick Echols-



55



Revenue 0 0 0 0 5,000 0 5,000 0 5,000

Cost of Sales 0 0 0 0 0 0 0 0 0

Payroll 30,184 30,713 529 29,892 387,062 298,262 (88,800) 247,954 (139,108)

Expenses 46,727 21,576 (25,151) 19,354 295,866 206,368 (89,498) 238,547 (57,319)

EBITDA (76,911) (52,289) (24,622) (49,246) (677,928) (504,630) (173,298) (486,501) (191,427)

Allocations (17,762) (17,762) 0 (17,628) (142,093) (142,093) 0 (139,892) 2,201

Depreciation 0 0 0 0 0 0 0 2,118 2,118

Net Income (59,149) (34,527) (24,622) (31,618) (535,835) (362,537) (173,298) (348,727) (187,108)


Central Administration-



56



Revenue 10,780 2,421 8,359 6,338 141,653 21,965 119,688 73,572 68,081

Cost of Sales 0 0 0 0 0 0 0 0 0

Payroll 45,709 44,784 (925) 44,488 359,046 371,651 12,605 368,475 9,429

Expenses 13,117 13,299 182 20,596 92,885 107,442 14,557 95,362 2,477

EBITDA (48,046) (55,662) 7,616 (58,747) (310,278) (457,128) 146,850 (390,265) 79,987

Allocations (14,558) (14,558) 0 (14,465) (116,465) (116,465) 0 (114,596) 1,869

Depreciation 0 0 0 0 0 0 0 0 0

Net Income (33,488) (41,104) 7,616 (44,282) (193,813) (340,663) 146,850 (275,669) 81,856


Accounting - Stacie Higgins-



57



Revenue 0 0 0 10 (442) 0 (442) (70) (372)

Cost of Sales 0 0 0 0 0 0 0 0 0

Payroll 23,162 23,427 265 22,778 196,380 198,913 2,533 193,342 (3,038)

Expenses 12,412 14,500 2,088 17,710 124,420 144,044 19,624 123,238 (1,182)

EBITDA (35,574) (37,927) 2,353 (40,478) (321,242) (342,957) 21,715 (316,651) (4,591)

Allocations (2,702) (2,702) 0 (2,678) (21,617) (21,617) 0 (21,298) 319


Net Income (32,872) (35,225) 2,353 (37,800) (299,625) (321,340) 21,715 (295,353) (4,272)


Member Services - Carmen Dissing-



58



Revenue 0 0 0 0 0 0 0 0 0

Cost of Sales 0 0 0 0 0 0 0 0 0

Payroll 26,093 24,506 (1,587) 23,792 215,077 206,871 (8,206) 214,127 (950)

Expenses 20,084 13,765 (6,319) 13,620 191,215 199,053 7,838 175,723 (15,492)

EBITDA (46,177) (38,271) (7,906) (37,412) (406,292) (405,924) (368) (389,850) (16,442)

Allocations (12,542) (12,542) 0 (12,430) (100,337) (100,337) 0 (98,854) 1,483

Depreciation 2,741 2,775 34 9,169 21,076 22,632 1,556 74,356 53,280

Net Income (36,376) (28,504) (7,872) (34,151) (327,031) (328,219) 1,188 (365,352) 38,321


Information Technology - Jack Brooks-



59



Revenue 1,022,296 975,124 47,172 1,011,477 10,294,221 7,869,104 2,425,117 7,373,895 2,920,326

Cost of Sales 0 0 0 0 0 0 0 0 0

Payroll 11,596 15,669 4,073 14,510 177,553 127,212 (50,341) 143,014 (34,539)

Expenses 173,463 197,228 23,765 234,816 1,419,614 1,594,041 174,427 1,526,950 107,336

EBITDA 837,237 762,227 75,010 762,151 8,697,054 6,147,851 2,549,203 5,703,932 2,993,122

Allocations 0 0 0 0 0 0 0 0 0


Net Income 837,237 762,227 75,010 762,151 8,697,054 6,147,851 2,549,203 5,703,932 2,993,122


General Income & Expense-



60



Revenue 0 0 0 0 0 0 0 0 0

Cost of Sales 0 0 0 0 0 0 0 0 0

Payroll 12,388 9,301 (3,087) 7,229 90,923 78,509 (12,414) 78,424 (12,499)

Expenses 20,031 11,835 (8,196) 14,859 127,941 112,579 (15,362) 115,481 (12,460)

EBITDA (32,419) (21,136) (11,283) (22,088) (218,864) (191,088) (27,776) (193,905) (24,959)

Allocations (11,202) (11,202) 0 (11,271) (89,615) (89,615) 0 (87,614) 2,001


Net Income (21,217) (9,934) (11,283) (10,817) (129,249) (101,473) (27,776) (106,291) (22,958)


Human Resources Departments - Doug McCash-



61



Revenue 15,974 13,600 2,374 14,877 110,193 89,700 20,493 108,766 1,427

Cost of Sales 0 0 0 0 0 0 0 0 0

Payroll 31,482 24,232 (7,250) 23,696 217,930 203,102 (14,828) 209,456 (8,474)

Expenses 23,456 26,214 2,758 18,955 190,039 236,806 46,767 205,821 15,782

EBITDA (38,964) (36,846) (2,118) (27,774) (297,777) (350,208) 52,431 (306,511) 8,734

Allocations (4,612) (4,612) 0 (4,589) (36,892) (36,892) 0 (36,272) 620

Depreciation 232 232 0 233 1,855 1,856 1 1,860 5

Net Income (34,584) (32,466) (2,118) (23,418) (262,740) (315,172) 52,432 (272,099) 9,359


Communications and Marketing - Kim Carlson-



62



Revenue 20,191 32,000 (11,809) 72,970 419,148 262,500 156,648 303,432 115,716

Cost of Sales 0 0 0 0 0 0 0 0 0

Payroll 23,274 19,618 (3,656) 18,599 181,016 165,459 (15,557) 164,038 (16,978)

Expenses 37,600 11,710 (25,890) 25,194 157,060 115,375 (41,685) 115,454 (41,606)

EBITDA (40,683) 672 (41,355) 29,177 81,072 (18,334) 99,406 23,941 57,131

Allocations (4,533) (4,533) 0 (4,510) (36,263) (36,263) 0 (35,656) 607


Net Income (36,150) 5,205 (41,355) 33,687 117,335 17,929 99,406 59,597 57,738


Legal Departments - Doug McCash-



63



Revenue 1,040,590 910,433 130,157 963,645 6,715,929 6,514,306 201,623 6,822,372 (106,443)

Cost of Sales 240,872 233,954 (6,918) 221,703 1,649,154 1,629,296 (19,858) 1,648,547 (607)

Payroll 86,304 91,861 5,557 80,924 726,627 755,884 29,257 688,725 (37,902)

Expenses 195,205 213,265 18,060 174,157 1,516,919 1,544,569 27,650 1,512,517 (4,402)

EBITDA 518,209 371,353 146,856 486,861 2,823,230 2,584,557 238,673 2,972,582 (149,352)

Allocations 108,859 108,859 0 108,563 870,869 870,869 0 855,288 (15,581)

Depreciation 112,866 112,741 (125) 109,130 874,332 878,552 4,220 873,243 (1,089)

Net Income 296,484 149,753 146,731 269,168 1,078,029 835,136 242,893 1,244,051 (166,022)


Water Utility Consolidated-



64

Actual Budget Prior YR Budget Prior YRIncome

Assessments 7,171,988 7,043,240 6,633,985 128,748 538,003City of Bella Vista 8,836 6,400 6,189 2,436 2,646Food and Beverage 1,900,613 1,294,411 1,068,910 606,202 831,703Golf 2,949,617 2,885,636 2,842,797 63,981 106,819Pro Shop 456,732 331,645 330,995 125,087 125,737Other Recreation 53,913 44,571 39,967 9,342 13,947RV 439,902 368,079 335,550 71,823 104,352Facility Use Fees 487,056 436,027 462,720 51,029 24,336Boat 461,606 465,916 449,968 (4,310) 11,637Investment Income 3,776 0 383 3,776 3,393Lot Sales 261,609 147,000 206,472 114,609 55,137Transfer Fees 753,389 429,137 430,175 324,252 323,214Past Due Collections 269,464 160,629 147,759 108,835 121,705Advertising Income 110,193 89,700 108,766 20,493 1,426Rebates 2,578 0 80,994 2,578 (78,416)POA Lot Inventory Valuation 7,395 15,500 11,645 (8,105) (4,250)Gain / Loss Disposal Surplus Assets 30,000 0 0 30,000 30,000Water Rents 47,840 47,840 46,448 0 1,392Commissions 0 1,240 1,240 (1,240) (1,240)Cell Tower Rents 51,919 51,490 51,401 429 518Legal Fee Income 23,843 8,000 12,727 15,843 11,117Rents Leased Facilities 7,000 8,000 8,000 (1,000) (1,000)Donations Received 8,800 40 21 8,760 8,779NSF Checks 3,275 3,900 3,800 (625) (525)Other Income 2,036,795 20,962 (92,303) 2,015,833 2,129,097

Total Income 17,548,137 13,859,363 13,188,611 3,688,774 4,359,526

Food and Beverage 664,428 458,273 396,873 (206,155) (267,556)Pro Shop 329,810 246,023 247,750 (83,787) (82,060)Recreation 58,372 51,882 45,144 (6,490) (13,227)

Total Cost of Goods 1,052,609 756,178 689,766 (296,431) (362,843)

Gross Profit 16,495,528 13,103,185 12,498,845 3,392,343 3,996,683

ExpensesSalary and Wages 6,265,161 6,170,075 5,855,242 (95,086) (409,918)Employee Benefits 1,385,385 1,416,250 1,275,263 30,865 (110,122)Memberships, Training and Travel 83,262 95,152 79,090 11,890 (4,172)Supplies 763,807 710,931 674,542 (52,876) (89,265)Fuel and Oil 130,284 123,130 94,824 (7,154) (35,460)Equipment & Tools 98,915 70,433 153,409 (28,482) 54,494Lease, Rents and Licenses 539,034 576,917 588,070 37,883 49,036Maintenance and Repairs 588,961 520,431 560,135 (68,530) (28,827)Maintenance and Service Agreements 356,563 344,009 287,328 (12,554) (69,235)Outside Contracts 313,169 310,473 226,784 (2,696) (86,385)Professional Services 356,880 334,415 431,004 (22,465) 74,125Insurance 383,364 391,120 347,353 7,756 (36,011)Utilities 689,481 706,456 643,805 16,975 (45,676)Taxes and Permits 305,516 275,401 279,997 (30,115) (25,519)Postage 61,502 79,140 69,367 17,638 7,865Credit Card Fees & Interest Expense 226,736 178,965 161,136 (47,771) (65,599)Membership Elections 41,098 26,400 40,869 (14,698) (229)Advertising 90,507 137,261 94,802 46,754 4,295Bad Debts 24,499 104,750 108,445 80,251 83,947Uniforms 22,216 27,711 23,436 5,495 1,220Donations 34 400 55 366 21Discounts Earned (64,308) (49,006) (45,066) 15,302 19,242Intercompany Interest Expense 4,331 30,245 34,056 25,914 29,725Other Expense 53,403 49,096 44,758 (4,307) (8,646)

Total Operating Expenses 12,719,797 12,630,155 12,028,704 (89,643) (691,093)

EBITDA 3,775,730 473,030 470,140 3,302,700 3,305,590

Allocations - MAC (302,903) (302,903) (296,984) 0 5,919Allocations - F & A (567,966) (567,966) (558,304) 0 9,662

Total Allocations (870,869) (870,869) (855,288) 0 15,581

Pre Depreciation Gross 4,646,600 1,343,899 1,325,428 3,302,700 3,321,172

Depreciation 1,174,367 1,178,317 1,289,457 3,950 115,090

Net Income / Cost of Operations 3,472,233 165,582 35,971 3,306,651 3,436,262

Simple Cash FlowAdd: Depreciation 1,174,367 1,178,317 1,289,457 (3,950) (115,090)+/- Non Cash Adjustments (7,395) (15,500) (11,645) 8,105 4,250Subtract Capital Projects (709,938) (709,938) (141,772) 0 (568,166)Subtract: POA Water Loan (360,000) (186,667) (912,045) (173,333) 552,045Subtract: Reserves 2020 Plan (315,368) (116,104) 0 (199,264) (315,368)

Simple Cash Flow 3,253,900 315,691 259,966 2,938,208 2,993,934

Bella Vista POA Income StatementAugust 2021 Year To Date Compared with Budget and Prior Year

YTD Variance

65

Actual Budget Prior YR Budget Prior YRIncome

Assessments 800 800 800 0 0Investment Income 8,294 0 18,807 8,294 (10,513)Water 5,815,450 5,705,159 5,917,305 110,291 (101,855)Restricted Revenue 478 200 2,939 278 (2,461)Water Capital Buy In Fees 742,500 600,000 665,000 142,500 77,500Water Late Fees 83,480 106,400 86,654 (22,920) (3,174)Gain / Loss Disposal Surplus Assets 0 0 41,124 0 (41,124)NSF Checks 2,150 2,880 1,875 (730) 275Intercompany Interest Income 4,331 30,244 34,056 (25,913) (29,725)Other Income 58,446 68,623 53,812 (10,177) 4,635

Total Income 6,715,929 6,514,306 6,822,372 201,624 (106,442)

Water 1,649,154 1,629,296 1,648,547 (19,858) (606)Total Cost of Goods 1,649,154 1,629,296 1,648,547 (19,858) (606)

Gross Profit 5,066,776 4,885,010 5,173,824 181,766 (107,049)

ExpensesSalary and Wages 726,627 755,884 688,725 29,257 (37,902)Employee Benefits 285,157 306,781 180,359 21,624 (104,798)Memberships, Training and Travel 8,907 17,086 5,018 8,179 (3,889)Supplies 223,260 189,280 269,147 (33,980) 45,887Fuel and Oil 37,280 31,600 28,040 (5,680) (9,240)Equipment & Tools 21,530 14,980 20,822 (6,550) (708)Lease, Rents and Licenses 50,660 47,736 48,652 (2,924) (2,008)Maintenance and Repairs 112,682 138,850 176,643 26,168 63,962Maintenance and Service Agreements 56,939 53,647 52,817 (3,292) (4,121)Outside Contracts 184,055 184,053 193,804 (2) 9,748Professional Services 9,913 11,700 5,568 1,788 (4,345)Insurance 121,202 123,672 109,285 2,470 (11,916)Utilities 73,112 71,308 73,606 (1,804) 494Taxes and Permits 167,551 153,885 150,871 (13,666) (16,680)Postage 30,116 39,640 31,215 9,524 1,099Credit Card Fees & Interest Expense 139,603 129,951 142,269 (9,652) 2,666Bad Debts 475 1,600 1,855 1,125 1,380Uniforms 3,582 3,800 4,391 218 809Other Expense (9,103) 0 655 9,103 9,758

Total Operating Expenses 2,243,546 2,300,453 2,201,242 56,907 (42,304)

EBITDA 2,823,230 2,584,557 2,972,582 238,673 (149,352)

Allocations - MAC 302,903 302,903 296,984 0 (5,919)Allocations - F & A 567,966 567,966 558,304 0 (9,662)

Total Allocations 870,869 870,869 855,288 0 (15,581)

Pre Depreciation Gross 1,952,360 1,713,688 2,117,294 238,673 (164,934)

Depreciation 874,332 878,552 873,243 4,220 (1,088)

Net Income / Cost of Operations 1,078,029 835,136 1,244,051 242,893 (166,022)

Simple Cash FlowAdd: Depreciation 874,332 878,552 873,243 (4,220) 1,088Subtract Capital Projects (805,820) (805,820) (235,109) 0 (570,711)Add: Reserves Carry Over & Current Capital 0 0 0 0 0Add: Debt Service - POA Water Loan 360,000 186,667 912,045 173,333 (552,045)Subtract: Debt Service - Water Bond (803,333) (753,333) (346,664) (50,000) (456,669)

Simple Cash Flow 703,207 341,201 2,447,566 362,006 (1,744,359)

Bella Vista Water Utility Income Statement August 2021 Year To Date Compared with Budget and Prior Year

YTD Variance

66

ASSETS 2021 2020 Change

Current Assets

Cash and Short Term Investments 7,308,564 4,415,345 2,893,219Debt Service Sinking Fund 1,159,822 713,152 446,670Accounts Receivable 1,527,946 1,335,878 192,068Inventories 507,705 608,099 (100,394)Prepaid Expenses 161,123 174,381 (13,258)

Total Current Assets 10,665,160 7,246,855 3,418,305

Delinquent Assessments Receivable (Net of Allowance) (110,519) (109,870) (649)

Property, Plant & Equipment 113,816,282 111,500,628 2,315,654Capital Projects - WIP 518,146 87,903 430,243 Less Accumulated Depreciation (60,263,822) (56,415,160) (3,848,662)

Net Property, Plant & Equipment 54,070,606 55,173,371 (1,102,765)

TOTAL ASSETS 64,625,247 62,310,356 2,314,891

LIABILITIES

Current Liabilities

Payables and Accruals 1,171,182 932,741 238,441Accrued Payroll 610,814 962,479 (351,665)Prepaid Assessments 1,190,317 972,808 217,509Accrued Taxes 491,725 970,786 (479,061)Member Functions 588,039 508,597 79,442Advance Deposits - Food and Beverage Events 49,078 21,746 27,332Short Term / Water Bond 628,931 604,453 24,478

Total Current Liabilities 4,730,086 4,973,610 (243,524)

Long Term Lease Liability 1,497,955 1,503,190 (5,235)

Long Term Portion - Water Bond 2009 2,316,036 3,853,679 (1,537,643)

Total Long-Term Liabilities 3,813,991 5,356,869 (1,542,878)

Members' Equity

Contributed Capital 32,628,285 32,628,285 (0)Cumulative Excess of Revenue over Expenses 18,902,623 18,071,571 831,052

Beginning Equity 51,530,908 50,699,856 831,052

Year-To-Date Gain/Loss 4,550,262 1,280,021 3,270,241

Members' Equity at Month End 56,081,170 51,979,877 4,101,293

TOTAL LIABILITIES & MEMBERS' EQUITY 64,625,247 62,310,356 2,314,891

Bella Vista Village POA

CONSOLIDATED BALANCE SHEET August 2021

67

D


Current Assets

Cash and Short Term Investments 3,371,102 87,915 3,283,1872020 Plan Reserve Balance 315,368 0 315,368

Accounts Receivable 640,085 436,116 203,969Inventories 507,705 608,099 (100,394)Prepaid Expenses 148,271 113,316 34,955

Total Current Assets 4,982,531 1,245,446 3,737,085

Delinquent Assessments Receivable (Net of Allowance) (110,519) (109,870) (649)

Property, Plant & Equipment 71,343,413 69,757,506 1,585,907

Capital Projects - WIP 263,347 42,160 221,187 Less Accumulated Depreciation (34,979,197) (32,444,508) (2,534,689)

Net Property, Plant & Equipment 36,627,563 37,355,158 (727,595)

TOTAL ASSETS 41,499,575 38,490,734 3,008,841

LIABILITIES

Current LiabilitiesPayables and Accruals 705,668 318,468 387,200Accrued Payroll ` 531,195 861,902 (330,707)Prepaid Assessments 1,190,317 972,808 217,509Accrued Taxes 491,725 970,786 (479,061)

Member Functions 198,298 168,848 29,450Advance Deposits - Food and Beverage Events 49,078 21,746 27,332Due To Water 2,567,597 2,094,470 473,127

Total Current Liabilities 5,733,878 5,409,028 324,850

Long Term Lease Liability 1,497,955 1,503,190 (5,235)

Total Long-Term Liabilities 1,497,955 1,503,190 (5,235)

Members' EquityContributed Capital 32,628,285 32,628,285 (0)Cumulative Excess of Revenue over Expenses (1,832,776) (1,085,739) (747,037)

Beginning Equity 30,795,509 31,542,546 (747,037)

Year-To-Date Gain/Loss 3,472,233 35,970 3,436,263Members' Equity at Month End 34,267,742 31,578,516 2,689,226

TOTAL LIABILITIES & MEMBERS' EQUITY 41,499,575 38,490,734 3,008,841


POA BALANCE SHEETAugust 2021

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Current Assets

Cash and Short Term Investments 2,914,237 4,327,429 (1,413,192)Accounts Receivable 887,861 899,762 (11,901)Due From POA 2,567,597 2,094,470 473,127Debt Service - Reserved 1,159,822 713,152 446,670Prepaid Expense 12,852 61,065 (48,213)

Total Current Assets 7,542,369 8,095,878 (553,509)

Property, Plant & Equipment 42,472,869 41,743,122 729,747Capital Projects - WIP 254,799 45,743 209,056 Less Accumulated Depreciation (25,284,625) (23,970,652) (1,313,973)

Net Property, Plant & Equipment 17,443,043 17,818,214 (375,171)

TOTAL ASSETS 24,985,412 25,914,092 (928,680)

LIABILITIES

Current Liabilities

Payables and Accruals 465,514 614,273 (148,759)Accrued Payroll 79,619 100,577 (20,958)Member Functions - Water Deposits 389,741 339,749 49,992Short Term/ Water Bond 628,931 604,453 24,478

Total Current Liabilities 1,563,805 1,659,052 (95,247)

Long Term Water Bond Issue 2,316,036 3,853,679 (1,537,643)Total Long-Term Liabilities 2,316,036 3,853,679 (1,537,643)

Members' Equity

Cumulative Excess of Revenue over Expenses 25,445,891 23,867,802 1,578,089Est. Allocations to Water 1992 thru 2003 (4,710,492) (4,710,492) 0

Beginning Equity 20,735,399 19,157,310 1,578,089

Year-To-Date Gain/Loss 370,172 1,244,051 (873,879)

Members' Equity at Month End 21,105,571 20,401,361 704,210

TOTAL LIABILITIES & MEMBERS' EQUITY 24,985,412 25,914,092 (928,680)


WATER UTILITY - BALANCE SHEETAugust 2021

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Bella Vista POA Lakes JAC September 8, 2021

2:00 pm Country Club Board Room /Zoom

Chairman: Matt Champagne Vice Chairman: Ross Gerner Secretary: Carol Phillips

Committee Members: Rick Yorman, Carol Phillips, Arell Wasson, Paul Bickford, Kelly Austin, Jason Adams, Matt Champagne, Ross Gerner.

POA Board Liaisons: Jerre Barron, Jr., Sandy Fosdick.

Chairman Champagne called the meeting to order at 2:00 pm.

Motion to approve August 2021 minutes made by Arell Wasson, second by Ross Gerner. Approved.

Tom Judson comments: Activity Card sales, boat registrations, guest passes and golf usage continue to increase. The POA board voted to approve funding for an engineering study concerning the Lake Ann sinkhole.

Rick Echols comments: Lake Patrol contacts have decreased as expected at this time of year. Preparation for paving of Brittany dam and additional parking at Lake Ann has been completed. Maintenance and repairs continue.

Trey Anson comments: Boat rentals at the Marina have been good. The new kayak loading ramp is being used successfully.

Committee discussion of swimming in no-wake coves on Loch Lomond. Open forum comments by POA members included concerns over boat wakes near shorelines and violations in no-wake areas.

Discussion of a POA member email concerning trash in Lake Avalon.

Chairman Champagne adjourned the meeting at 2:53 pm.

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POA Recreation Joint Advisory Committee

September 13, 2021, Boardroom 4:00 pm

Attendance

Members: Scott Dreas, Denise Klinger, Mary Elizabeth Williams, Deborah Lukotch, Gary Griffin, Maci Echols

Zoom: Chris Stockman, Janet Conboy

Staff: Joan Glubczynski, Judy Griffin, Rick Echols, Tom Judson, John Urquhart, Jessica Anson, Corrine Morin

Board: Jan Hagan

Zoom: Mike Abb

Guests: Brian Michelson, new member

Denise Klinger called the meeting to order at 4 p.m.

Amenity Reports:

Amenity: Branchwood Complex and Trails Committee Member: Deborah Lukotch Review Month/Date: September 2021

Overall Condition: Went at noon on a Wednesday, over 20 cars in the lot. Majority of activity was on the indoor fitness equipment and pool, a few people walking outdoors, but it was a very warm 88 degrees.

• The two wooden benches at the pickle ball court have been repaired and painted, look much better.• The new pickleball signs are installed and look good.

Areas for Review: 1. There is an old Weekly Vista newspaper rack that isn’t serving any purpose, it’s a bit unsightly, should just

remove it.2. There is a dying tree branch hanging over the walkway area, going clockwise just before the 11th disk hole. I

don’t think it will fall soon but should be removed next time someone is out there with equipment.

Member Interactions: Had a member inquire about the availability of an indoor walking track for extreme weather days.

Amenity: Blowing Springs Recreation Area Committee Member: Deborah Lukotch Review Month/Date: September 2021

Overall Condition:

Thursday evening, RV park and Gear Garden very active. A lot of families with small children everywhere. Park over all clean and maintained.

Areas for Review: 1. You cannot make a reservation for the RV park online. It is starting to generate negative online reviews.2. Showers are accumulating grass clippings from mower, and green mold growing on cement slab.3. Just beyond RV parking as you continue toward the back of the park is a “No Trespassing Private Property Bella

Vista Members and Guests Only” sign, yet the Gear Garden is beyond this point and open to the Public.

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Member Interactions: Spoke to a POA member staying at the RV park due to home remodeling, really like the park overall.

Additional Observations: Long term should consider playground equipment if RV park and Spring area continue to draw so many young families.

Amenity: Loch Lomond Park Committee Member: Steve Gardner Review Month/Date: September 9, 2021

Grass was freshly mowed around the whole park Dog parks: Trash cans were emptied, and pooper bags well stocked at the dog park. And overall, the dog parks looked in great condition. Ball Park: Ball game was in progress and the field and area looked good. Pavilion area: Landscaping is all in excellent condition. Bathrooms were clean and well-maintained

Pavilion looked in great shape, the grill was clean and ready for use and all the trash cans were emptied. Picnic tables were all clean and in good repair

Gazebo and area were all in good shape. The walking trail was clean of any debris.

No concerns or new recommendations for this period.

Amenity: Tire Park Committee Member: Janet Conboy Review Month/Date: September 2021

Overall Conditions:

Lawn and landscaping well maintained. Picnic tables, grills, playground equipment

clean and usable. Bathrooms at the point of needing cleaning, but still in good shape.

Additional review:

Steve Gardner indicates that “there is a limb (not a branch) that overhangs into the boat parking lot as you’re headed toward the boat ramp. The limb is a bit low and just cost me $1200. By looking at the limb, it has cost many many boaters money as their boat canopies hit the limb. There is NO bark anywhere on the bottom of the limb, indicating how many times it has been hit. It really should be cut off.”

Additional Observations:

None.

Member interactions:

There were several people fishing from the bank, picnicking, and swimming just offshore. Most people I have encountered using the park, other than boaters. I asked about frequency of use. It was the first time most had come. Couldn’t tell if they were POA members .

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Amenity: Lake Avalon Park Committee Member: Janet Conboy Review Month/Date: September 2021

Overall Conditions:

Picnic tables, grills, activity equipment and grounds were in tip-top shape. A few shrubs need volunteer trees and weeds cleaned out, but generally were healthy. Bathrooms were locked (assuming water issues remain). Porta-potties were debris-free, but clearly needed some sanitary touch-ups.

Areas for Review:

None

Additional Observations:

Three people were floating in a canoe; a kayak was lying on the bank, as were two orange paddleboats (?) Unclear to me if water equipment was rented. There were no instructions as to how to reserve them. Could be my ignorance.

Member Interaction:

A large party was using the shelter, grills and activity areas. Separately a few people were swimming along the shore beyond the beach area. The grillers indicated that relatives from Texas and Oklahoma were joining locals for a family reunion. They loved the venue.

Amenity: Metfield Complex Committee Member: Maci Echols Review Month/Date: September 2021

Overall Conditions: Overall Metfield park looked good. Grounds were well taken care of. Everything was clean and orderly. Metfield clubhouse was clean. Restrooms were clean at the clubhouse and playground.

Areas for review

• Up by the upper restrooms there are a few limbs down.• Couple of picnic tables are starting to show wear and tear on the upper picnic area with paint chipping off• There is a grill at the bike skills part that needs to be fixed or replaced due to a big hole from rust and wear and

tear.• Gravel wash down from playground to parking lot.

Member Interactions: I spoke with a member and his son on September 11th. They really did not have any complaints and over all were happy with the playground. His son was upset about a big slid being removed but happy with the new playground. Also spoke with a lady at the clubhouse and she and her husband use both workout places at Metfield and Riordan. She said that her husband was wanting a different method to signing in instead of on paper all the time. She also was wondering about opening earlier or staying open later but overall, she was happy with the equipment and such.

Amenity: Riordan Hall Complex & Tennis Committee Member: Scott Dreas Review Month/Date: September 2021

Overall Condition: Riordan Hall is in good condition. All operations, meetings, exercise classes and groups are operating on normal schedules. Alysha was busy getting ready for the Christmas sale event. Kingsdale Pool reports no issues and still looks in great condition. The Kingsdale pool will remain open later in September this year and has cancelled the Dog Days of

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Summer event this year. The Kingsdale Pavilion is in good condition with no issues to report. The playground is in good condition. A few issues reported in the “Areas for Review” section. The mini-golf course is still seeing many players making use of the upgraded amenity. The tennis center is busy. The resurfacing contractor had to reschedule courts 3 &4 due to additional work at the University of Arkansas tennis facility. Jake also reported that more lights on courts 1 & 2 and 3 &4 are out and hoping that can justify the cost of getting the equipment to replace the lights.

Areas for Review: The air conditioner for the Snooker room at Riordan Hall was not working on the day of my visit. There are several sprinkler heads around tennis courts 3 &4 that were damaged and leaking water. There is a fence rail leaning up against the backside of the pickleball court connected to tennis courts 3 & 4. One trash can lid is broken on the Kingsdale playground. One of the concrete decks for the picnic tables at the playground has a lot of erosion around and under two edges of the deck. This could pose a hazard and if enough dirt washes out from under the deck could cause it to break (pictures of all issues attached)

Member Interactions: Talked with a few tennis players waiting for their time on the courts and they shared how nice it is to have such a great tennis facility available to Bella Vista and the POA members.

Amenity: Trails/Greenway Committee Member: Mary Elizabeth Jones Review Month/Date: September 9, 2021

The grass was mowed, it is well maintained and was getting a ton of use. The only thing I noticed was there was a lot of down pine needles on the trail which could be a hazard for bikers, but I feel like it is that time of year and there is not much that can be done about it unless we had it blown off every day which is not practical.

Member Interaction: There were many people on biking on the greenway and walking their dogs. They loved having a paved area that is so pretty to walk their dogs. I did not get a chance to stop a biker.

Amenity: Lake Ann Park Committee Member: Mary Elizabeth Jones Review Month/Date: September 9, 2021

Overall Condition:

Lake Ann Park/ dam and waterfall are so beautiful and peaceful. There were about 40 people at this park/ lake. The lights at all the facilities were working, that lawns were well mowed and maintained. The garbage cans were empty. The doggy bags were full. The grills looked well used but in good working order and the port-a-potties appeared in useable condition.

Areas For review:

Picnic/ dock area far eastside: Everything that I could check out looked fantastic (there was party going on in the shelter area)

By the dam/waterfall area westside: There is the orange caution fencing around sinkhole, can we please get a caution warning sign for this area explaining what it. It is dangerous not having it labeled and is a true hazard. Everything else looked great. They even mowed the dam, and they fixed the hand sanitizer holder in the port-a-potty.

Member Interaction:

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At the Lake Ann park I spoke to a gentleman, He was wondering if there were plans the pave the gravel parking pad there? I also spoke to many others utilizing the park and they just loved it and it was their favorite lake/ area in Bella Vista for outdoor activities.

Amenity: Tanyard Creek Committee Member: Denise Klinger Review Month/Date: September 2021

Overall Condition: I visited on Sun. 9/5 at 8:00 am, there were 2 cars in the lot. The grass was mowed and trimmed but the Pavilion was filled with dead leaves. Can that be blown out, so it’s kept neater? There was also party debris and cake on the tables.

The trails and areas near water where people congregate were clean and free of debris and left behind belongings.

The restrooms were surprisingly clean but without ventilation were very warm inside. The men’s bathroom has an unpleasant odor.

Carroll Electric has severely cut back the trees and underbrush on the northern most section of trail, so it’s completely exposed.

Areas for Review: The Waterfall Overlook. I’ll be showing the photos that Randy Hamm took recently of the underside of the concrete overlook and the erosion that’s taking place. It’s currently being supported with steel posts, but this should NOT be a long term or permanent solution. There is orange barricade that’s intended to keep people off the overlook, but it isn’t, it’s easy to step over it and stand on the cement. This has been in place for approximately 4 years per Randy. The hillside above the overlook is bare from people walking on it making it easy to erode in a heavy rain. There are trees with exposed roots, so they are not well anchored, and one tree is leaning. We are potentially one severe storm away from this being a costly problem, particularly since people like to see the falls when the water is really coming over. This needs to be reviewed for safety and a long-term solution found for this area sooner rather than later.

Member Interactions: I spoke with a couple from Bella Vista who were there hiking. They come often to Tanyard and love it. They had no recommendations or comments. Their biggest complaint was regarding Carroll Electric’s treatment of the trees and underbrush.

Additional Observations: None at this time.

Amenity: Gun Ranges Committee Member: Gary Griffin Review Month/Date: 09/11/2021

Overall Condition: The overall condition of both sites is very good. They are clean and well kempt. Restrooms are clean.

Areas for Review: There are no long-term projects or any improvements that are visible. Both Range Masters like the improvements at their sites. The Rifle and Pistol range picnic area is complete.

Member Interactions: No member action during this visit.

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Trap and Skeet Range - Spoke with Carrol (Range Master). The range was slow on this day. The weather report for high temperatures may have kept shooters away. Activity remains consistent. There was a shoot on Sunday 912, and two scheduled for October.

Rifle and Pistol Range – Spoke with Loren, POA Ranger (standing in for Royce, Range Master) and the range was slow on both sides. On my day visiting, there were eight shooters. The day before, there were thirty-six shooters.

Additional Observations: None at this time.

Amenity: London Park Committee Member: Chris Stockman Review Month/Date: September 2021

Overall Condition: Excellent condition overall, restrooms nice and clean. This is a place you want to show visitors.

Areas for Review: None

Member Interactions: Gentleman fishing from shore. Moved here a month ago and simply just loves the place.

Additional Observations: A few cars and boat trailers in the parking area.

New Business

Guest comments regarding Tanyard overlook and off trail opportunities

Open discussion regarding youth activities (67.5% of Bella Vista is under retirement age according to 2020 US census) keep an ear out for member requests and as critical mass develops create/recommend solutions, keep on radar for long term planning. In the meantime, Marketing to ramp up communication on current offerings. Keep in mind as we consider solutions how we will address Nonmembers, children of renters, etc.

POA Staff Reports:

Tom Judson: Activity cards, guess passes, boat registrations up over ly, most growth in kayaks. He also said they have met with two engineering forms to address the Tanyard Creek Waterfall Overlook.

Rick Echols: Discussed Loch Lomond draw down, reducing ranger hours due to reduced activity this time of year, maintenance and repair updates, and new kayak rack at Lake Norwood.

John Urquhart: New range manager at rifle/pistol range, attendance down partly due to ammo availability.

Joan Glubczynski: Responded to amenity reports, discussed new pool and marina hours, new class schedules, and Branchwood pickle ball paddle holders to be in soon. Need to rent a lift to fix lights at Riordan tennis courts. New software coming to improve overall member experience with amenities.

Judy Griffin: Reminder about new Member meeting Saturday at 10

Next Committee October 11, 2021, 4:00pm Boardroom

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Golf Joint Advisory Committee Meeting Agenda Wednesday, September 8th, 2021 4:00 pm, Boardroom

Attending: David Brandenburg, David DeGraf, Jan Hagan, Ruth Hatcher, Jeff Hendren, Sheila Heward, Mike Houston, Keith Ihms, Tom Judson, Jason Loyd, Corinne Morin, Gary Mertz, Darryl Muldoon, Susan Nuttall, Alex Sanford, Jan Simms, Jerre Barron

Absent: Mark Deihl, Jason has Mark’s proxy

Votes and Important Topics: ● The committee passed the following recommendations:

○ Select the flattest area within the USGA guidelines for (our) Gold Tee Markers. Install 2permanent markers in the ground approximately 20’ apart. The distance from the holemay change.

○ Conduct marketing campaigns for 2 weeks to explain the new markers with Golf Group Leaders,in the Golf Newsletter and with Golf Cart Signage.

● The next Golf Committee Meeting is Wednesday, October 13th at 4:00pm, Boardroom

Meeting Notes

Call to Order – Jason Loyd called the meeting to order at 4:00 pm

Course reports are available in the meeting packet

New Business: moved to the beginning of the meeting

● Recognition of the Friends of Highlands with their assistance for the AJA Tournament○ Thanks go out to the Friends of the Highlands for providing lunch to the players, officials

and volunteers for the recent AJJA Tournament. Phil Spencer accepted on behalf of thegroup. 78 volunteers participated. The tournament officials have indicated they willreturn next year.

○ The Friends of Highlands donated $500 for the AFA tournament. They donated anadditional $500 to assist with the upcoming 4A High School tournament to be held onSeptember 21st. This Tournament will be for both boys and girls.

● Ruth Hatcher was recognized for her help with the volunteers for the Tournament.

● Gold Tee Areas and related topics● This topic was moved to the beginning of the meeting due to members in the audience

that had a specific interest in this topic.● Darryl Muldoon’s report

○ The amount of play from the different tee boxes was analyzed. Red is the mostpopular followed by White, Blue, Gold, Yellow and Black.

○ The Gold Tee Markers present challenges with visibility and maintenance. Weare looking into options that are more visible and less time consuming tomaintain.

○ Darryl reviewed the Gold Tee Areas for level playing areas. There are 8 holesthat leveling/relocating may be beneficial.

○ Changes in the Handicap System

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■ In the next year, we will be shifting to the Golf Handicap Information Network(GHIN). This system is the USGA system to manage handicaps and also offersother services such as Tournament Management, Course Rating, etc.

■ Bella Vista membership in the GHIN system will open up services such ascourse rating teams - which have been sporadic over the last few years. Darrylwill be meeting with GHIN principles in the next few months.

○ Red Tee Box expansion: Budget approvals to expand tee boxes on each of BVCC andHighland will carry over. The Committee recommendation to have tee boxes expandedon other courses are in the review process for 2022.

Proposal by Sheila Heward related to actions for the Gold Tee areas (See Appendix for the document) ● 5 points were discussed by the committee

# Original Final Actions

1 For each Gold Tee marker, install an additional marker 20 feet from the current marker no closer to the hole.

Select the flattest area within the USGA guidelines for (our) Gold Tee Markers. Install 2 permanent markers in the ground approximately 20’ apart. The distance from the hole may change.

The original motion was withdrawn. The final language was moved by Sheila Heward, seconded by Susan Nuttall and passed unanimously.

2 Establish a local rule: When playing from the gold tees, the golfer may use any space between the markers and up to 2 club lengths back (consistent with current USGA and R&A rules).

NA The motion was withdrawn since it is covered in rule ____ in the USGA rule book.

3 Conduct marketing campaigns for 2 weeks to explain the new markers with Golf Group Leaders, in the Golf Newsletter and with Golf Cart Signage

Same as original Sheila Heward made the motion/Gary Mertz seconded. Unanimously approved as written.

4.

2 months after the new markers are installed, a cross functional team of Golf Operations, Golf Maintenance, interested Golf Committee members and selected golfers will tour/play the course and determine which tees should receive priority for developing a flatter space within the teeing area. The recommendations will be presented to the Golf Committee for further action.

withdrawn The motion was withdrawn. The assumption is this discussion will take place with the USGA representatives.

5 When performing other work that will close a course, or a portion of a course, for an extended period, take into consideration the work needed to provide a flat teeing area.

withdrawn The motion was withdrawn. The assumption is that this will be considered in the normal course of determining the scope of work for the closure.

Staff Reports: ● Maintenance – Keith

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○ The short videos have been very well received. The video on the correct way torepair a ball mark was shown.

○ Additional winter damage repairs will start on September 13th at Highlands andKingswood. May require usage of temp greens and/or relocating tee markerswhile work underway. No more than 2 weeks to complete. This information willbe communicated in Friday Golf Update

○ The sprigging at Scotsdale is coming along very well. Scotsdale is scheduled toreopen October 1st.

○ Our experiment with hydroseeding didn’t work. We may try again next springand will need to adjust the pre-emergent/fertilizer program in the impacted areas.

● Golf Operations – Darryl Muldoon○ Rounds

■ August round ended at 20,726, down by 1,842 over last August■ YTD rounds ended at 155,504, up by 2,929 over last year.■ Member rounds ended at 83,435, down by 1,006 over last year■ Guest rounds ended at 32,069 up by 3,935 over last year.■ Range buckets ended at 6,940 down 1,010 over last year, YTD Range

buckets ended at 41,914 up by 3,276 over last year○ BVCC Rerouting

■ The highway project has started and it will be several years. Watch forthe detour signs as there are likely to be changes in cart routing as theproject progresses.

General Management – Tom - none Board Liaisons

● Jan Hagan - thanks to all for the success of the AJJA tournamentComments/Emails from the Public:

● Karen Owens representing the WGC asked when the action on the gold tee areas would be takenin light of the new information about changing to the GHIN system and subsequent ratingactivities?

○ Darryl - We won’t be able to determine this until after meetings with the USGA andscheduling of the activities. Likely it will be in 2022. Darryl agreed to put together aplan outlining Interim Steps and the Long Term Plan regarding Gold Tee Areaimprovements.

Old Business: ● Gary asked about any changes that may be imminent due to the resurgence of COVID. Changes

may have an impact on the planning for the upcoming Courtesy Van Tournament.○ Per Tom Judson: we are closely monitoring the guidance from the Arkansas Department

of Health. There are no changes planned by the POA at this time.

Announcements: ● Golf JAC Regular Meeting – Wednesday, October 13th at 4:00pm, Boardroom

Adjourn – Jason Loyd adjourned the meeting at 5:23 pm.

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