TREASURER ’ S REPORT BY MATT AMES
It is a pleasure to share with you this brief summary of CCR – s 2019 financial status . The full , detailed Auditor – s Report is available at the office or at the CCR website . When reading the report , it is important to keep in mind that each Fund has a different purpose and different restrictions .
The Operating Fund is for the day-to-day operational expenses such as supplies , utilities , wages , benefits , minor repairs , maintenance , roads , printing , postage , fuel , taxes , etc . The Operating Fund – s income comes from you , the members . These revenue sources are your dues , facility usage income , service fees , and allocations from the Resource and Endowment Funds . As of 12 / 31 / 2019 , the Operating Fund revenues were up $ 105,903 compared to 12 / 31 / 2018 . The Operating Fund expenses were up $ 31,042 from 12 / 31 / 2018 . Overall , the Operating Fund cash-based assets balance was up $ 34,147 coming in at $ 1,701,659 on 12 / 31 / 2019 .
The Capital Fund is primarily for the major repairs or replacement of the Ranch – s Capital assets , continued tree planting , and stream work . The Capital Fund – s income is mostly from entrance fees , proceeds from sales of lots , proceeds from timbers sales , proceeds from sales of assets , and $ 70 from each member – s annual dues . We are concerned with the decline in the prices for timber , the decline of production in gas wells , and the inflation cost on the replacement of Ranch assets . Currently the Ranch – s booked assets are $ 8,368,576 ( this doesn – t include all of the Ranch – s land ). As of 12 / 31 / 2019 , the Capital Fund – s cash-based assets balance is $ 879,214 . This is up $ 103,898 from 12 / 31 / 2018 primarily from our investments .
The Resource Fund is primarily used for purchasing new capital assets ( totaling less than $ 26,000 in 2019 ). It can also be used for conservation expenditures and extraordinary expenses including but not limited to environmental projects , major repairs , and professional fees . The Resource Fund – s income is funded out of receipts from the lease of gas and oil . Per the By-Laws , the Resource Fund also redistributes 20 % of the net gas revenue to the Operating Fund and 60 % of such to the Capital Fund annually . As of 12 / 31 / 2019 , the Resource Fund – s cash-based assets balance is $ 1,027,651 . This is up $ 84,897 from 12 / 31 / 2018 primarily from our investments
The Endowment Fund is only used to benefit the Operating Fund by transferring up to 50 % of the net income annually . The Endowment Fund – s income is primarily from the Ranch – s tax case refund , a portion of entrance fees , private donations from members , and from investments . As of 12 / 31 / 2019 , the Endowment Fund – s cash-based assets balance was $ 2,441,308 . This is up $ 329,512 from 12 / 31 / 2018 primarily from our investments .
Overall , the Ranch is in good financial shape , however the membership must focus on the future replacement of our current assets . As of 12 / 31 / 2019 , Canada Creek Ranch – s total assets ( outside of Ranch land ) were up $ 507,465 from 12 / 31 / 2018 . It is not hard to understand that over time , the current Capital Fund balances will not be able to sustain major replacements , such as the Ranch House , the Campground infrastructure , the road / trail system ( both paved and unpaved ), the maintenance buildings and equipment , the Fire Brigade buildings and equipment , and so much more .
Balance Sheet Dec . 31 , 2019 & Dec . 31 , 2018
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