The Recreation Centers of Sun City West Budget and Finance Committee reviewed the quarterly reports of their investment management firm and their operating …
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RCSCW quarterly finance review
Posted
By Roger Ball
Independent Newsmedia
The Recreation Centers of Sun City West Budget and Finance Committee reviewed the quarterly reports of their investment management firm and their operating financials at their Oct. 16 meeting.
The committee is charged with reviewing all aspects of financial policies and plans for the rec centers and make recommendations to the Governing Board.
Andrew Maslick, Vanguard group senior investment consultant, presented a quarterly report to the committee on the rec centers’ long-term investments.
Diana Warren, committee member, asked Mr. Maslick how Vanguard prepared their investment portfolio for future market trends.
“Our investment strategy group is what we call our Vanguard think tank,” he said.
“We are always looking ahead,” he said.
Ken Gunville, RCSCW chief financial officer, presented a summary of income and expenses for July through September. Mr. Gunville joined RCSCW in September, and the Oct. 16 meeting was the first opportunity to review all the figures for the prior months.
Barbara Senefeld, committee chairman, said regular monthly budget
Barbara Senefeld
reviews will now be conducted.
Most of the large variances involved weather conditions such as heavy rain cutting down on golf income, and storm damage requiring extra repairs.
Mike Whiting, RCSCW general manager, pointed out the rec centers hosted 141 special events last year serving 50,000 customers and had a $500,000 income from those events.
Ms. Senefeld also said at their next meeting on Monday Nov. 6, she planned to discuss alternative revenue sources for RCSCW.
Barbara Senefeld
