April 2026 Sunriver Scene - Flipbook - Page 5
Highlights
continued from page 4
by vacation homes during peak
seasons. He provided the board
with an outline to request a
technical audit and billing
study of the sewer company.
• Bob Stilson would like
to see historical attendance
numbers at the Member Pool
and whether expanding hours
beyond the regular season is
worth the cost. He noted that
the features at SHARC are
preferable with indoor/outdoor
aquatic options that meet the
requested need. He asked about
expanding SHARC hours for
the benefit of all.
Board actions
• Approved minutes of the
Jan. 8, 2026 SROA Board
Retreat.
• Approved minutes of the
Feb. 20, 2026 SROA board
work session as corrected.
• Approved minutes of the
Feb. 21, 2026 SROA board
regular meeting as corrected.
• Approved the SROA unaudited financial statements
for the month ending Feb. 28,
2026.
• Approved creation of a Fire
Protection Workgroup pursu-
Treasurer
continued from page 4
balance that are changing in
the future.
First, our reserves balance
growth is based on contributions from a portion of our
annual maintenance fees, and
it declines when we withdraw
funds to fund new amenities
and services requested by owners as identified through owner
and staff input developed from
surveys, owner comments to
the board, the Parks & Recreation Master Plan, the association’s Strategic Plan for
2030, and the Infrastructure &
Amenities Master Plan.
Secondly, the balance is affected by interest earnings on
the reserve balances. In recent
years, our balance has been
helped by higher-than-normal
short-term interest rates. In
2021, when interest rates were
extremely low, our average annual yield about 0.1%, and we
earned $4,411. It increased to
$81,466 in 2022 and went on
to $586,000 in 2024.
In 2025, interest income on
the reserve fund declined to
$512,784 and our 2026 budget
assumption is for $520,575.
The increase is not due to
higher interest projects but
rather to a higher balance.
Rates, however, have started
to decline. Our weighted an-
ant to a Five Point Directive.
There will be an opportunity
for owners to submit an application to populate the workgroup.
• Authorized SROA’s Controller to purchase $1M in
U.S. Treasury Securities with
maturities up to five years.
Committee actions
• Approved the appointment
of Rich Phelan as alternate to
the Finance Committee.
Association operations
• Administration: Met with
Design Committee chair regarding review process for the
Resort’s tree removal application request. Follow up with
the board president and vice
president regarding owner
comments during the board
meetings. Participated in a
meeting with a new private
incubator group to examine
Oregon wildfire initiatives.
Continue to meet with police
chief and SSD board chair
regarding rules enforcement
and Bike Patrol agreements.
Reviewed job descriptions and
subsequent applications for IT
Director, Communications Director and Compliance Officer.
• Accounting: Bulk internet fiber billings continue.
Presented year-end financials
nual yield on our investment
portfolio declined from 4.27%
in December 2024 to 3.61% in
December 2025. Our investment advisor, Morgan Stanley,
is expecting federal fund rates
to decline to 3.0% by December 2026 which will bring short
term treasury rate close to that
level.
The Finance Committee and
the board have attempted to
moderate the effect of declining
rates this past 18 months by
investing a portion of reserves
in five-year treasury securities,
locking in current rates.
A second major factor affecting our budget is the depletion
of the SHARC reserve fund.
When SHARC was built 15
years ago, owners were able to
choose to pay their assessment
in one lump sum, five annual payments or monthly payments over 15 years. Once the
construction loan was paid off,
the proceeds of the monthly
payments were deposited in
a SHARC reserve account,
with those funds designated
to SHARC replacement and
equipment purchases. Thus,
those expenditures do not
come out of the regular Reserve
Fund.
The 15-year payments end
in January 2027. All future
SHARC capital items will
need to come out of the regular
Reserve Fund, reducing our
coverage percentage. In fact,
to the Finance Committee.
Processing annual maintenance
fee payments. Worked on new
Capital Transfer Fee election.
Working to purchase $1M, 5
year treasury.
• Communications: Actively interviewing director
candidates (32 applications
received). Created marketing
materials for Home Expo and
Spring Fling Dance. Updated
kiosk rules panel to reflect recommendations by the Pathway
Safety Task Force as well as
creating new signs at seven key
entry points.
• Community Development: There are approximately
152 active projects/building
permits in progress. Participated in Magistrate Hearings
on violations and citations.
The Design Committee continues to review and address
possible changes to the Design
Manual with potential changes
submitted to the board at their
April 17 meeting. Tree protection inspections have been
completed with 40 properties
notified of non-compliance
with 10 receiving citations for
failure to bring their property
into compliance.
• Natural Resources: Visited with Black Butte Ranch
Natural Resources Department – staff toured the com-
munity and discussed successes,
challenges, and ongoing collaboration. Coordinated with
Communications Department
regarding wildfire education
and outreach videos. Finalized
GIS map for 2026 LFR contract area (available on SROA
website). Continued revision
and production of public education and outreach materials.
• IT: Actively interviewing IT Director candidates.
New HRIS system (Paylocity)
data migration and system
configuration started. Trained
Community Development
team members on GIS for field
data collection. GIS update
presented to the board at their
February meeting.
• Public Works: Blocking illegal parking areas on Belknap.
Completed blocking rogue
pathways around SHARC.
Repaired rail fence over Theater Drive tunnel. Creating
location and specifications for
the pathway resurface spring
project. Pothole and edge of
road repair. Rehabilitating the
road drainage on Cottonwood
and Spring River roads as they
enter Sunriver. Sight distance
clearing has been completed for
all pathways and now started
on roads. Identifying roads
(30) to receive slurry treatment
this spring with 20 requiring
dig outs to address failed base.
Landscape design completed
for inside the amphitheater.
Geo-tech completed for River
Road tunnel - now working on
engineering solutions. Still on
course to start work this fall.
• Recreation/SHARC: Construction of the office window
and indoor painting of the inside of SHARC have completed
and looks great. Planning for
March 14 Home Expo with
27 vendors attending. Spring
break begins March 20 and
SHARC is expecting a good
turnout with extended recreation swim hours. Construction of the new pickleball shade
is expected to start breaking
ground in the first part of April.
The meeting adjourned at
10:50 a.m.
The next SROA board work
session will take place at 9 a.m.
April 17 followed by the regular
board meeting at 9 a.m. Saturday, April 18.
To watch the recorded
meeting via YouTube, visit the
meeting date on SROA website
calendar for the YouTube
link. Meeting minutes, once
approved, are available on
the SROA website at www.
sunriverowners.org
at times this past year, there
were not sufficient funds in the
SHARC reserve fund to cover
expenditures, and they were
covered by the regular Reserve
Fund.
Last year those expenses
totaled $617,034, of which
$98,564 came out of the general Reserve Fund.
While our current Reserve
Fund is healthy, it takes the
diligence of the Finance Committee and the board to ensure
that it continues to be so in
the future.
–Clark Pederson is the treasurer of the SROA Board of
Directors and chair of the Finance Committee. pederson@
srowners.org
APRIL 2026 SUNRIVER SCENE
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