In accordance with the Governing Documents, the specific and primary purpose of SAMLARC is to provide community services and facilities for the benefit and welfare of the Members, and the management and maintenance of SAMLARC assets and amenities to preserve community property values, desirability and attractiveness.
With this purpose in mind, SAMLARC’s annual budget design begins in late May each year. The budget development process spans several months. Projections of revenue and expense figures from the current year, as well as historical and known future data, are considered to ensure that all necessary factors are included. Reasonable assumptions are made and justified where needed. Additionally, each SAMLARC Committee has the opportunity to provide input on the Budget.
The SAMLARC Board of Directors and Management work together to identify future fiscal impacts outside of SAMLARC’s control such as regulatory mandates (rise of minimum wage, stringent Orange County Fire Authority defensible space guidelines, and Santa Margarita Water District rate increases) as well as critical landscape restoration. The SAMLARC Budget development process incorporates these unavoidable impacts so that the Board of Directors may prudently address their effects on the Budget. For more information on the impacts above, please click HERE.
All of the above efforts and Management’s professional insight work to protect property values and enhance the lifestyle and sense of community for which SAMLARC is known. Year-end projections for the 2019 Budget, the first draft of the 2020 Proposed budget, and the 2020 Reserve Study were presented to the Budget and Cash Flow Committee (BCFC) at the August 21, 2019 Committee Meeting. The BCFC is comprised of Chief Financial Officer Robert Louvar, Board Vice President Marty Groh, and Director Jeff Halbreich. The Committee considered budget variables and the Budget Workshop Agenda at their meeting held September 18, 2019. The Board of Directors will consider the Draft 2020 Fiscal Year Operating Budget at the 2020 Budget Workshop, scheduled at 5:30 p.m. on October 8, 2019 at the Lago Santa Margarita Beach Club. The Budget Workshop is an Open Session Meeting for all SAMLARC Members. For more information, please contact Candice Fullenkamp, Community Executive Officer, at 949-709-0015 or email@example.com.