Candidate Forum Clarification

SVCA held two candidate forums, on 09/23 and 09/27. The candidate forum was a space for candidates to gather, and community members to listen to the responses to a pre-determined set of questions regarding our community. Each candidate answered the same questions. The audio and video to the 09/27 forum can be found here.

The association would like to provide clarification on three items that were incorrectly stated at the forum:

  • Inaccurate candidate statement: The 2018 operations budget is not balanced
  • Accurate response: The 2018 operations budget is balanced with no additional funding from UDR (Undesignated Reserves Fund) as shown on page 6, column 2 of the 2017 Annual General Election Booklet.

A balanced budget means the amount of income and expense anticipated is the same, so net income is zero.

  • Inaccurate candidate statement: The UDR fund is where monies go that have pre-allocation to either operations, CRRRF, or roads.
  • Accurate response: The Undesignated Reserves Fund, UDR, is where money collected in the current year for prior year operational dues is deposited. Money spent from this account must have prior approval by the board.  It is a board-designated operations fund.
  • Inaccurate candidate statement: It is in audited financial statements that we have to get a vote of the membership to borrow.
  • Accurate response: This is the opposite of what it states in the audited financial statements. The 2016 Audited Financial Statements, Note 7, “If additional funds are needed, however, the association has the right to borrow funds…”. This verbiage has been included in the audited financial statements for at least the past 10 years.  Copies of the 2015 and 2016 Audited Financial Statements can be found here.