December 2019
http://www.canadacreekranch.com
What Does Your Annual Statement of Assessments Mean?
This year’s annual assessment will be billed out at the
end of December. The total of all assessments for 2020 is
currently calculated to be $803.62. If you are wondering
how everything is computer, here is your answer. The
five assessments per membership certificate have specific
purposes to fund different operations of CCR. They are
as follows:
• Membership Dues ($485.89): This is the main
assessment that funds the Operating Fund. In 2019, it was
billed out for $455.14. This year the amount will be $485.89.
On the 2017 proxy, the membership approved to increase
this assessment by $20.00 in 2020. Additionally, this portion
of the assessments may be increased by the Board of
Directors each year either on Consumer Price Index,
better known as CPI, or 5%; whichever is less. This year’s
CPI increase was 2.36%.
$455.14 x 2.36% = $10.75;
$455.14 + $10.75 = $465.89;
$465.89 + $20.00 = $485.89.
• Capital Assessment ($70.00): This amount is the
portion of dues that goes directly to help fund the Capital
Fund. This was set at $5.00 on the 1992 Proxy, increased
to $35.00 on the 1994 Proxy and increased again to $70.00
per certificate on the 2011 Proxy. This $70.00 amount
remains unchanged from 2019 to 2020.
• Surrender Cert. Assessment ($193.02): This is the
amount based on the number of certificates that have
been surrendered via consolidation to the association or
by foreclosures. This assessment was established by the
approval of a 1999 proxy ballot. In Article III, Section 3 of
the CCR By-Laws, it specifically states “…The Dues shall
be increased pro rata by an amount equal to the dues
revenue lost as a result of the surrender of Member
Certificates for which such adjustment has not
previously been made…” On the 2018 proxy, the
membership approved to add the following language
to this Section: “…For the avoidance of doubt, the
purpose of the pro rata annual increase to the General
Assessment is to cover (on a cumulative basis) the
cumulative loss of revenue that would otherwise result
from certificates that are surrendered.” The Surrendered
Certificate Assessment is calculated using a total of 2006
certificates as outlined in the By-Laws. Currently, the
CCR membership certificate count is 1,490, which is a
difference of 517 certificates. The Surrendered Certificate
Assessment is billed out using this calculation:
$485.89 Membership Dues + $70.00 Capital Assessment = $555.89;
$555.89 x 517 Total Surrendered Certificates = $287,395.13;
$287,395.13 ÷ 1489 current membership certificates = $193.02.
• Ranch Insurance Assessment ($46.69): This is the
portion of the dues that repays the association the amount
of insurance (not including grooming insurance and
health insurance for employees) that was expensed in the
current operating year. (2019 Insurance Expenses are
billed in the 2020 Annual Assessments).
$69,521.41 ÷ 1489 membership certificates = $46.69
• Ranch Tax Assessment ($8.02): This portion of the
dues repays the association the amount of real property
taxes for property owned by CCR that was expensed in
the current operating year. (2019 Tax Expenses are billed
in the 2020 Annual Dues).
$11,941.78 ÷ 1489 membership certificates = $8.02
If you have any questions regarding your dues statement
or don’t receive it by the middle of January, please contact
the office.
Doug
Mansfield
receives the First
Buck Knife (Donated
by Jeff and Paula
Miller) from CCR
Office
Manager
Yvonne Currie.
Thank you Webb
Wood for engraving
the CCR Shield on
the Knife).
More deer hunting
photos on page 15.