CCR News August 2020

August 2020 http://www.canadacreekranch.com President’s Message Hello, Members! It’s great to have the Ranch open for business again! The extended shutdown and related restrictions on our movements are reminders how fragile our freedom is and how easily it can be curtailed. But even in – or especially in – times of trouble, it’s important for us to stop for a moment and look back, as hindsight shows us how far we’ve come and also reminds us how quickly good fortunes can change. It is no exaggeration to say we’re living through turbulent and troubling times – economically, socially, and politically. In sharp contrast, our Club continues to provide a peacefulness and stability that our members can count on to help them preserve a sense of balance and provide their families and guests a safe and restful haven. As we enjoy the benefits our Club provides, we can’t assume everything will continue as it is now without a significant effort from all of us to preserve, protect, and defend this retreat we care so much about. In particular, the Club’s ongoing financial sustainability is going to need our attention. Previous President’s Messages have detailed CCR’s economic rollercoaster ride - beginning with a $5.6 million cash infusion from oil exploration in the mid-1970s and ending in the Club’s inability to meet its monthly bills by 1990 – just a few years later. Those Messages applauded the business expertise, legal resolve, and unwavering persistence of the Boards and supportive Members who rallied to overcome that dark period. Our financial structures are significantly improved and financial accounting, transparency, and accountability have been raised to industry-leading standards. These improvements enabled the Club to put itself back on track financially while materially improving each individual’s “member experience” through the acquisition of capital assets and improvements in member services. That experience has valuable lessons we can draw upon to navigate through the economic challenges that are just over the horizon. Lesson #1: We must work together, not separately or independently, for the good of the whole Club. While each of us may experience the Club in our own way, it is only by working cooperatively together that we can achieve the most benefit for each of us. • This is especially true of our Board of Directors. Our bylaws make the Board responsible for setting the direction of the Club and ensuring it is run responsibly and with an eye toward its future sustainability. Each year we elect new Directors, and the addition of one to three new persons on the Board can change the dynamics 1 Congratulations to to this years Merritt Clark Award recipients, Chuck and Nancy Thurston. Well deserved. and the effectiveness with which the Board discharges its responsibilities. • With this in mind, this year’s Board has made a significant effort to identify “best practices” that successful private clubs employ to ensure their boards always act with their club’s sustainability foremost in their minds. These best practices will be used by future CCR Boards to assess their practices against those of the best run clubs. Employing industry best practices will definitely aid each new CCR Board in quickly reaching optimal performance while shortening the inevitable period of adjustment to new board members. Lesson #2: We cannot expect large returns on small investments. • The total of all the Club’s capital assets comes to millions of dollars. Just the purchase price of our buildings, equipment, and vehicles totals $5.8 million according to our last audited financial report. Replacement costs for those same assets are estimated to be more than $15 million. Continued on page 7