Tahoe Donner News – May 2012

MAY

2011 ANNUAL REPORT INSIDESee pg. 33

Table of Contents

513

24

FEATURES

13 Hiking Trails, vistas and exploring

24 Tahoe Donner Golf Getting ready for opening day

DEPARTMENTS

02 President’s Message Membership update

03 Monthly Calendar Something for everyone

08 Let’s Get Together TD events & happenings

27 Bulletin Board Upcoming community events

28 Taking Care of Business Board meeting minutes

32 Where in the World is TD News? TD News travels the world

TAKE NOTE

05 Kayak Storage Lottery sign-up

06 New Trail Connecting TD and downtown

09 Chris Beck On the cover

21 Photo Contest Submit your photos

31 Spring Craft Tissue paper flowers

WELCOMEVOL. 13, NO. 5MAY 2012

EDITORIAL AND PRODUCTION STAFF

Amanda BirchenoughBrittany FeltonAmanda Wallace Kirt Zimmer

BOARD OF DIRECTORS

President Suzan Knisley, [email protected]

Vice President Tom Johns, [email protected]

Secretary Steve Miller, [email protected]

Treasurer Ron Wulff, [email protected]

Director Jay Lempinen, [email protected]

Board of Directors [email protected]

Postmaster Send address changes to Tahoe Donner News, 11509 Northwoods Blvd., Truckee, CA 96161(530) 587-9400, Fax (530) 587-9419

Email [email protected]

Advertising Sales Tahoe Guide is the exclusive advertising representative for the Tahoe Donner News. Call (530) 448-3065 or (530) 587-1393

Publishing InformationTahoe Donner Association holds the exclusive service mark right to “Tahoe Donner.” Any unauthorized use of such will be regarded as an infringement of that service mark right and is prohibited. The inclusion of advertising in this publication does not constitute an endorse-ment or recommendation by Tahoe Donner Association or its board of directors of the products, services, or views contained therein.Tahoe Donner News (ISSN 1550-6061) is the official monthly publication of Tahoe Donner Association, which is located at 11509 Northwoods Blvd., Truckee, CA 96161.

Each membership parcel receives one sub-scription to a domestic address. Additional subscriptions are available at the cost of $25 each. Cost to produce and distribute this publication is offset by advertising revenues. Periodicals Postage Paid at Truckee, CA, and additional mailing offices. Member letters to Tahoe Donner are published in the Members section of tahoedonner.com, where publishing guidelines are available.

SUZY KNISLEY | PRESIDENT

PRESIDENT’S MESSAGE

Two very significant events that are impor-tant to our members are on the calendar very soon. First is our annual election for the board of directors. Although it would be nice if every single member had the opportunity to vote on each of the important issues that come before the association, our Tahoe Donner governing documents and the State of California statutes preclude that from occurring. Your vote is effectively represented when you vote for the member that best represents your voice on how the association should be governed. You will soon receive your ballot in the mail. Be sure and read the statements and ask ques-

tions of the candidates running for the board and mail or personally turn in your ballot. Importantly, sign the outside of the ballot envelope to make sure your vote counts.

Unlike other association developments, Tahoe Donner members own all of the amenities and common areas instead of being retained by the developer. Although our governing documents control associa-tion matters such as CC&R’s, the level of business operations within Tahoe Donner is on the same level as a medium size corpo-ration with similar business decisions and challenges or a town such as Truckee that operates at a budget level very close to Tahoe Donner’s operating budget.

The next event date to save on your calen-dar is June 24 for our Annual Tahoe Donner Member Meeting to be held that Sunday at 1 p.m. at the Northwoods Clubhouse. In addition to our annual meeting where you have the opportunity to exchange ideas with staff and the board of directors, there will be many fun family activities planned along with our annual barbeque, free to all members.

Included in this issue is Tahoe Donner’s Annual Report. This is an important docu-ment full of all the financial details impor-tant to our members for review. The board thanks our Director of Finance Mike Salmon for his expertise and commitment to excel-lence in our Operating Budget and prepara-tion of the Annual Report.

Looking forward to a great spring and summer in Tahoe Donner.

SUZY KNISLEY | PRESIDENT

tahoedonner.com | 3

MayGet ready

for Summer

DAY CAMPSMEMBER REGISTRATIONTuesday, May 1 @ 8 a.mGUEST REGISTRATIONTuesday, May 15 @ 8 a.m

SWIM LESSONSMEMBER REGISTRATIONTuesday, May 8 @ 8 a.mGUEST REGISTRATIONTuesday, May 22 @ 8 a.m

RECREATIONMEMBER REGISTRATIONTuesday, May 29 @ 8 a.mThis includes the Bocce ball league.GUEST REGISTRATIONTuesday, June 5 @ 8 a.m

To register as a member, each participant must be identified on your Tahoe Donner profile, even if they are 6 or under. You can make changes to your profile by contacting the Member Services office in Northwoods Clubhouse or by calling (530) 587-9400. Guests must obtain a transferable guest ID card number or a member card ID number in order to register.

IMPORTANT SUMMER REGISTRATION DATESRegistration takes place online at tahoedonner.com/shop

MAY SEASON OPENING DATES

Tennis Center Opens for the SeasonSaturday, May 5 (conditions permitting)

Enjoy a free day of tennis as part of our fourth annual Tennis Across America event on opening day. We will have something for the whole family to enjoy as we showcase our 2012 summer programs. Take a theme clinic or cardio tennis. Call (530) 587-9474 to sign-up.

Golf Opens for the SeasonFriday, May 18 (conditions permitting)

Beach Club Marina Opens for SeasonFriday, May 25 (conditions permitting)

Looking for an extra copy of the 2012 Summer Fun Guide? Pick yours up just outside of the Member Services office in the Northwoods Clubhouse.

Member Services Office Hours Monday – Saturday 9 a.m. – 4:30 p.m. Sundays 10 a.m. – 2 p.m. starting June 17

Sail. Hike. Paddle. Swim. Ride. Swing. Explore. Summer in Tahoe Donner is packed with adventure.Spend your summer days drifting away at the Beach Club Marina or climbing to the top of Hawk’s Peak.

Discover a new adventure and most importantly, have fun. What are you waiting for?

Summer Fun Guide

TWO THOUSAND TWELVE

4 | Tahoe Donner News | May 2012

FROM THE DIRECTOR OF

FINANCE & ACCOUNTING

MICHAEL SALMON | DIRECTOR OF FINANCE & ACCOUNTING

The 2011 Annual Report for Tahoe Donner Association is included in this issue starting on page 33. This report provides comprehensive information on 2011 financial results and communicates the 2011 audited financial statements and Independent Auditor’s Report. The majority of our amenities performed very well in 2011, despite the lack of winter weather in December. For 2011, we were on budget through November; however, due to the lack of snow we were mate-rially off budget in December and missed budgeted net operating results for the year by $185,000/4% or $29 per owner. Of note are a few interesting 2011 operational metrics regarding our vital Forestry department operations. We manage over 7,000 acres, planted 5,500 trees, and 870 tons of chipped material was recycled into energy at the regional co-generation plant.

The financial start to 2012 has been challenging. With downhill and cross country ski operations not opening until January 24, 2012, the losses in January and February of 2012 amounted to an unfavor-

able Net Operating Result (NOR) variance to budget of $522,000, with revenues off $1.1 million. I would like to thank our entire management team for their exemplary performance during such challenging opera-tional conditions. We are proactively addressing this NOR shortfall from many angles to recover 2012 NOR back to budget by the end of this December. In March, we improved $15,000 to budget and preliminary April results look to be a minimum of $50,000 improved to budget.

The golf course is one of our most valuable and financial significant summer operations. The course is schedule to open on May 18. For members and guests, the daily rates remain unchanged for the third consecutive year. The daily play rates vary by time of the season as well as the time of day playing. The season pass rates were increased over last season. Members can also purchase multi-packs to lower the cost per round. All members can book tee times 14 days in advance, not just passholders. Your reservation can be cancelled within 24 hours of play time. So if you think you may be coming up to play, book your tee time in advance to ensure availability! Our golf rates for members are lower than market to benefit you, the member, so please come and enjoy your spectacular home course.

By now you should have received in the mail the 2012 Summer Fun Guide. The guide can also be found online at tahoedonner.com. There is a wealth of summer activities, and many require some advanced planning too. Take a few minutes with your beverage of choice and review your association’s 2011 Annual Report. I am sure you will find some interesting facts and figures regarding Tahoe Donner. Please call or drop an email anytime to me regarding your association’s finances. Lastly, I would like to thank the Finance Committee for their service, valued insight and oversight of your association.

MICHAEL R. SALMONDIRECTOR OF FINANCE & ACCOUNTING [email protected] (530) 587-9418

tahoedonner.com | 5

.detarepo & denwo yltnednepedni si ecffio hcaE .ytlaeR ecioB smailliW relleK htiw detailffiA*Statistics are based on TSBOR MLS data for Tahoe Donner Single Family Homes.

back: Dave Donnelly, David Wright, Pete Griffin, Bob Colquhounfront: Jessica Ferguson, David Hipkins, Bruce Watkins

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We have what you’re looking for!Top Website - over 4,000 visitors in the last 30 days! Top Brokerage in Tahoe Donner!Dedicated service throughout & after your transaction!

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TAHOE DONNER CONTACTS

Member Communications (area code 530) Member Services 587-9400 [email protected]

General Manager 587-9431 [email protected]

Contact Member Services to be transferred to other administrative departments.

AmenitiesAlder Creek Campground 587-9462 [email protected]

Beach Club Marina 587-9460 [email protected]

Cross Country Center 587-9484 [email protected]

Downhill Ski Area 587-9444 [email protected]

Equestrian Center 587-9470 [email protected]

Forestry 587-9432 [email protected]

Golf Course 587-9443 [email protected]

The Lodge 587-9455 [email protected]

Pizza On The Hill 582-9669 [email protected]

Recreation Info Hut 587-9413 [email protected]

Tennis Center 587-9474 [email protected]

Trout Creek Rec. Center 587-9437 [email protected]

Tahoe Donner Association Committee ChairsArchitectural Standards, Jason Wooley [email protected]

Covenants, Al Noyes [email protected]

Elections, Nan Carnal [email protected] Finance, Jeff Bonzon [email protected]

General Plan, Dick Gander [email protected]

Tahoe Donner Association Chartered Club PresidentsBridge, Sharilyn Nelson [email protected]

Friends of TD Trails, B.R. Levine [email protected]

Rowing Club, Dot Mace [email protected]

Senior Alpine Ski, Jeff Bonzon [email protected]

Tahoe Donner Green, Sue Sorensen [email protected]

Tennis, Linda Stewart [email protected]

Nordic Ski Club, Carol Ozimek [email protected]

9-Holers, Hilary Ward [email protected]

Mens Golf, Ralph Schindler [email protected]’s Golf, Denise Kosak [email protected]

Hiking Club, Robin Reese [email protected]

Quilt Club, Linda Brush [email protected]

The 2012 online kayak storage lottery is May 3 – 10. We encourage you to sign up at any time during this period at tahoedonner.com. The storage is for kayaks with a beam (widest part of the bottom of the boat) of no more than 33 inches. The cost is $100 for the season. If you receive a spot, we will contact you on May 11. You have until June 15 to pay for your spot and sign your liability waiver. You do not have to bring your boat in by June 15, but payment must be made and paperwork completed. You may bring your boat in at any point during the season. Spot assignments will be on a first come first serve basis starting at 7 a.m. on Friday, May 25.

COMING SOON!Kayak storage lottery


BBecause of its higher elevation and snowfall levels, Tahoe Don-ner’s road maintenance needs are more significant than other parts of Truckee. To meet that need,

Tahoe Donner homeowners pay an additional assessment (tax) – typically used for accel-erating the town’s slurry sealing and asphalt overlay schedules for the subdivision.

NEW TRAIL TO DOWNTOWN TRUCKEE BEING DISCUSSED

It’s called the Truckee Special Service Area 1, a.k.a. “TSSA 1,” and the fund has an approxi-mate fund balance of $5.2 million, accumulat-ing at a rate of $589,000 per year. Aside from roadway maintenance activities, TSSA 1 funds may be used for trails and improved road-side parking in the town right-of-way which directly benefits the Tahoe Donner commu-nity (i.e., TSSA 1 service area).

Each year, the Truckee Town Council reviews the town’s pavement management program along with any eligible projects that directly benefit the TSSA 1 service area. In recent years, the Tahoe Donner staff and board of directors have reviewed these plans and requested the town designate TSSA 1 funds for additional projects that would ben-efit Tahoe Donner in addition to the regular

tahoedonner.com | 7

Alison Elder530 582 [email protected]

Alison sold over $32MM in Tahoe Donner since 2009

Architecturally stunning 3,557+ sq. ft. home. 4 bedrooms (2 en-suites), 3.5 baths. “Secret” playroom. SkiviewLoopLodge.com $1,095,000

14179 Skiview Loop

“�Alison�Elder�has�proved�herself�to�be�the�best�of�the�best.�What�stood�out�most�is�Alison’s�market�knowledge.�I�have�never�seen�someone�do�such�a�detailed�and�in-depth�analysis�of�the�market�with�what�would�be�the�right�price�to�get�the�home�sold.�Her�team�is�super�responsive�and�helpful.�I�look�forward�to�working�with�Alison�on�every�project�in�Tahoe.”

– Pradeep Gandhi – Real Estate Investor

Sale Pending 30 Days on Market

Exceptional Results. And More.Tahoe Donner Market Statistics January – March, 2012

Sales statistics based on TSMLS sold property 1/1/12 - 3/31/12

Price Properties DOM Avg. List Avg. Sold Sold Range Sold Price Price SF Pricing

$0 – $499,999 48 103 $347,375 $336,273 $211.93

$500,000 – $749,999 17 98 $619,188 $598,301 $247.09

$750,000 – $999,000 7 189 $890,785 $834,357 $264.83

$1,000,000+ 2 265 $1,150,000 $1,110,000 $281.80

40

20

10

$0 - $499,999

$500,000 - $749,999

$750,000 - $999,000

Over $1,000,000

34

177

2

Properties Sold – Price Range

roadway maintenance activities. Recently these funds were used to improve the on-street parking area at the Tahoe Donner Cross Country Center along with completing a class 1 trail design from Tahoe Donner to down-town Truckee.

As the town and Tahoe Donner both look to encourage non-motorized transportation, a proposed trail has been explored that would run from the Northwoods Boulevard entrance to Tahoe Donner (by the power lines and monument sign) to Bridge Street downtown. The paved trail, known as Trail 13, would be for multiple uses like hiking and biking but not for motorized vehicles.

The estimated length of the trail is just over one mile. Per the Town of Truckee’s Trails and Bikeways Master Plan, Trail 13 is proposed as a Class 1 path and its design standards are as follows: separated from a roadway with a minimum ten foot wide hard surface path. The trail may or may not include a separate soft surface trail running parallel to the hard surface path.

Following the Tahoe Donner Board of Directors recommendation, the town council

approved the use of TSSA 1 funds for an envi-ronmental impact study. The study, completed last summer, determined that the trail could be built with minimal impact to the area in question. Initial design parameters are now being developed.

Now the town is considering whether to use TSSA 1 funds for construction of the trail. At its March and April board meetings, the Tahoe Donner Board of Directors discussed the issue and made a recommendation to the town to program TSSA 1 funds to construct the first phase (one quarter mile) of Trail 13 from Northwoods Boulevard to Euer Valley Road South. Additionally, the town is review-ing their five year pavement management plan, which may impact the available town funds which are augmented by TSSA 1 funds to provide for the accelerated road mainte-nance in Tahoe Donner. Potential shortfalls in town budgeting may impact the frequency of slurry sealing and road overlays in Tahoe Don-ner; however, the town staff does not believe modifications to the funding or current road maintenance levels will impact the proposed trail project.


LET’S TOGETHER

tahoedonner.com | 9

PRIVATE AMENITY

TROUT CREEK

REC CENTER

PUBLIC AMENITY

TAHOE DONNER

GOLF COURSE

BEAT THE HEAT

TAHOE DONNER

AQUATICSBEAT THE HEAT

TAHOE DONNER

LIFEGUARDSRENTALS & REPAIR

S

TAHOE DONNER

BIKEWORKS

PRIVATE AMENITY

BEACH CLUB

MARINA

PRIVATE AMENITY

TENNIS

CENTER

TAHOE DONNER

SPECIAL EVENT

PUBLIC AMENITY

TAHOE DONNER

EQUESTRIAN CENTER

PUBLIC AMENITY

TAHOE DONNER

DOWNHILL SKI AREA

PUBLIC AMENITY

TAHOE DONNER

CROSS COUNTRY

PUBLIC AMENITY

ALDER CREEK

CAMPGROUND

PRIVATE AMENITYNORTHWOODS

POOL

PUBLIC AMENITY

TAHOE DONNER

SNOWPLAY

PROGRAMS & EVENTS

TAHOE DONNER

RECREATION

SHARE INTERESTS

MEET TD MEMBERS

JOIN A CLUB

PRIVATE AMENITY

TROUT CREEK

REC CENTER

PUBLIC AMENITY

TAHOE DONNER

GOLF COURSE

BEAT THE HEAT

TAHOE DONNER


TAHOE DONNER


S

TAHOE DONNER

BIKEWORKS

PRIVATE AMENITY

BEACH CLUB

MARINA

PRIVATE AMENITY

TENNIS

CENTER

TAHOE DONNER

SPECIAL EVENT

PUBLIC AMENITY

TAHOE DONNER

EQUESTRIAN CENTER

PUBLIC AMENITY

TAHOE DONNER

DOWNHILL SKI AREA

PUBLIC AMENITY

TAHOE DONNER

CROSS COUNTRY

PUBLIC AMENITY

ALDER CREEK

CAMPGROUND


POOL

PUBLIC AMENITY

TAHOE DONNER

SNOWPLAY

PROGRAMS & EVENTS

TAHOE DONNER

RECREATION

SHARE INTERESTS

MEET TD MEMBERS

JOIN A CLUB

NEW! ON THE COVER This month, we followed Tahoe Donner homeowner and professional photogra-pher Chris Beck on a recent photo shoot. Chris, his wife Christy and daughters Kylee, 10, and Maci, 7, live in Tahoe Don-ner. Chris met Christy at Colorado State in 1988. They grew up skiing and decided to move to Squaw Valley after getting married in 1995. Once they learned more about the local area, they decided that Tahoe Donner would be a great location to settle down and raise a family. They bought their home in 1998 and have lived there ever since! The whole family loves exploring the trails with their dog Tank. On hot summer days they can be found at the Beach Club Marina or swimming at the pools. Chris has been a professional photographer in the area for the past 14 years. His specialties include weddings, family portraits, corporate events and marketing images. His favorite spot to take pictures in Tahoe is along the east shore. “We love all four seasons here, but realize after 17 years of living in Tahoe, summers can’t be beat! We found our paradise…”

Do you have an interesting story and want to be featured as one of our “On the Cover” Tahoe Donner homeowners? Email us at [email protected] and let us know!

Friday Family Movie Night at Northwoods Clubhouse

Enjoy either a classic or new movie starting at 6:30 p.m. every Friday. Movies in this series are rated G and PG. NEW! Purchase movie snacks for $1.Here is this month’s Family Movie schedule:

May 4 Ice Age 3May 11 Happily N’Ever AfterMay 18 Sky HighMay 25 Chicken Little

For more information, please contact Trout Creek Recreation Center at (530) 587-9437.

Kids Night Out at Northwoods Clubhouse 5 - 9 p.m. Friday, May 4

Kids 4 – 9 years old are invited to join in the fun with crafts, dinner, and a movie as well as cookies and milk. This month’s featured film is Ice Age 3. Registration must be made at least 24 hours in advance by calling (530) 582-9646. Cost: $15 per child.

Wii Night at Pizza on the Hill returns May 27

Starting May 27, play a friendly game of Wii on the big screen each Sunday from 6:30 – 8 p.m. at Northwoods Clubhouse.

Thursday Night Trivia returns May 31

Test your trivia skills from local history to current events. The topics change every week! You never know what questions are going to be featured. Trivia Night returns to Thursdays starting May 31 from 6:30 – 8 p.m. The winner receives a certificate for a free pizza!

The 2012 tennis season is about to get underway. Our opening day is Saturday, May 5, and we want to invite you to our Fourth Annual Tennis Across America Day. This USPTA sponsored event features a full day of free tennis clinics. The tennis center will highlight some of its summer instruc-tional programs for free. This will include theme clinics and our popular cardio tennis. Sign up now by calling the pro shop at (530) 587-9474.

Adult Clinic ScheduleDo you want to improve your tennis skills?

Do you want to get in shape? Then look no further than Tahoe Donner Tennis. The 2012 clinic schedule is set and we will once again offer over 15 hours of adult clinics each week. From the heart-pumping cardio clinic to theme clinics, Tahoe Donner Tennis is your one stop shop to tennis greatness. Purchase a six-pack pass and only pay for five as Tahoe Donner Tennis will continue its popular dis-count program.

Cardio TennisThursday through Tuesday, 9 - 10 a.m.Theme ClinicsThursday through Tuesday, 10 - 11 a.m.

Ladies Drill and Weekly Play Dates

The easiest way to get out and play tennis this summer to sign up and let us take care of the rest. With all of the organized play dates each week, you will get all the tennis you need without having to worry about finding a fourth or making calls.

TuesdaysMen’s Day, 9 - 10:30 a.m.WednesdaysLadies Day Drill and Play, 9 a.m. – 12 p.m. 90 minute clinic - 90 minutes of play Cost: $20 Members, $25 GuestFridaysLadies Day, 9 - 10:30 a.m.SundaysMixed Doubles Day, 9 - 10:30 a.m.


PRIVATE AMENITY

TROUT CREEK

REC CENTER

PUBLIC AMENITY

TAHOE DONNER

GOLF COURSE

BEAT THE HEAT

TAHOE DONNER


TAHOE DONNER


S

TAHOE DONNER

BIKEWORKS

PRIVATE AMENITY

BEACH CLUB

MARINA

PRIVATE AMENITY

TENNIS

CENTER

TAHOE DONNER

SPECIAL EVENT

PUBLIC AMENITY

TAHOE DONNER

EQUESTRIAN CENTER

PUBLIC AMENITY

TAHOE DONNER

DOWNHILL SKI AREA

PUBLIC AMENITY

TAHOE DONNER

CROSS COUNTRY

PUBLIC AMENITY

ALDER CREEK

CAMPGROUND


POOL

PUBLIC AMENITY

TAHOE DONNER

SNOWPLAY

PROGRAMS & EVENTS

TAHOE DONNER

RECREATION

SHARE INTERESTS

MEET TD MEMBERS

JOIN A CLUB

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Memorial Weekend Season Kick-Off

Lace up your sneakers and grab your racquet as we kick off the season in style. This tennis club sponsored event gets you out on the courts for a great afternoon of team tennis. The excit-ing format will have you buzzing from court to court and match to match as you fight for every game to help your team to victory.

Saturday, May 26Round Robin: 2 – 5 p.m. BBQ and Potluck: 5 p.m.

Fourth Annual NTRP Tournament at Tahoe Donner

The Tahoe Donner Tennis Center is host-ing its Fourth Annual NTRP Tournament Friday, June 1 - Sunday, June 3. The Norcal branch of the USTA has designated the 3.0 division in this year’s event with Tournament of the Year status. Sign up is available online at norcal.usta.com.

Spring has sprung at Tahoe Donner Tennis. Look online at tahoedonner.com, give us a call at (530) 587-9474, check out the Sum-mer Fun Guide or stop by the pro shop for a complete list of events or more information on all the tennis activities at Tahoe Donner this summer.

IAN MINDELL | DIRECTOR OF TENNIS

MENS GOLF CLUBBy the time you read this, we should only

be a few weeks away from opening day for the golf course. Let’s hope that a shorter ski sea-son pays off with a longer golf season. The golf season has a planned opening for the end of May. Our first tournament is the Ice Breaker scheduled for June 3. This is a less stressful team game (4-Man Shamble) that is a fun way to get the tournament season started. This was the most popular tournament in our member survey, so make sure that you sign up.

June 2012 TournamentsSunday, June 3| ICE BREAKERFriday, June 8 | NCGA Senior Four-BallNet Championship Qualifier Saturday, June 23 | NCGA Four-Ball Net Championship Qualifier

If you would like to join us this year or to get tournament entry forms, please visit tdgolfclub.com or pick up forms from our bulletin board on the lower level of the Lodge outside the pro shop.

The TDMGC Board would like to thank everyone who took the time to complete the golf club participation survey. We had a 44 percent response rate. Visit tdgolfclub.com to review the detailed presentation that was made at that meeting which included a summary of the feed-back and some preliminary recommendations.

Based on the survey feedback, the board is proposing to make a number of changes for the 2012 season which are summarized below. We hope that these changes will encour-age many of you who have been reluctant or unable to participate in the past to join us for as many events as possible. Specific details have been sent to members via email.• Expand communication to and involve

broader spectrum of members • Make tournaments attractive to a

broader audience • Expand Wednesday’s Skins game to

attract fun/social interests as well as competitive interests DAVE PARSONS | MEN’S GOLF CLUB

(Tennis Center continued)

tahoedonner.com | 11

DINING OPTIONS

The Lodge Restaurant & Pub Open nightly at 5 p.m. For more information, or to make areservation, please call (530) 587-9455.

Happy Hour at the Pub | Enjoy drink specials and 25 percent off tasty starters, small plates, soups and salads from 5 – 6:30 p.m., Sunday – Thursday.

No Corkage Tuesdays | Bring your own bottle of vino to enjoy with your meal and we’ll waive the corkage fee on Tuesdays nights. It’s the perfect time to enjoy that favorite bottle of wine you’ve been saving at home. Offer only valid during non-holiday periods

WildER Wednesdays | Happy Hour specials all night long in the entire restaurant! Enjoy 25 percent off small plates, soups and salads, plus drink specials.

Three Course Meal Deal | This favorite is back! From May 1 – 24, Sunday – Thursday, enjoy a special three course menu plus glass of house wine for only $25. Menu changes throughout the month. Not valid on Sunday, May 13, and may not be combined with any other promotions or coupons.

Cinco de Mayo Party | We’re celebrating on Saturday, May 5, with Mexican food specials, $3 Coronas, $5 margaritas and Happy Hour specials all night long in the entire restaurant. Don’t forget your sombrero!

Mother’s Day Fun | Treat the whole family to a fun event on Friday, May 11, from 4 – 8 p.m. at the Lodge Restaurant & Pub. Enjoy Mother’s Day crafts, games and Wii. The bounce house will be set up on the back pavilion, weather permitting. Treat mom to a great dinner at the Lodge while the kids play and make crafts.

The Pub will open at 4 p.m. on Friday, May 11. The dining room will open at 5 p.m.

In honor of Mother’s Day weekend, we are offering a special three course menu in addition to our regular menu on Friday, Saturday and Sunday evenings. Hope you will join us!

Pizza on the HillRe-opens on Thursday, May 24, with regular hours from 5 – 8:30 p.m., Thursday – Monday



HikingTahoe Donner Style

Whether it’s an inspect-every-last-leaf–and-bug walk with your 3-year-old or a rugged dawn-to-dusk trek, our region offers hiking trails to suit every age, fitness level and whim. We touched base with a variety of local hiking experts who weighed in on their favorite Tahoe Donner and Truckee trails. The following article offers several ideas that’ll get you and your gang out the door and happily headed in the right direction soon.


In Your Own Backyard

Homeowners and visitors don’t

have to travel far to find stellar

hiking right here in Tahoe Donner,

where old logging roads and single-

track paths were converted into a

network of well-marked trails.

Happily, Tahoe Donner folks often

get a head start on the hiking sea-

son as the open terrain is typically

snow-free much earlier than neigh-

boring Tahoe mountain trails. On

top of that, Tahoe Donner’s wide-

open spaces allow for sweeping

views of the region from Donner

Lake to the Carson Range.

TAHOE DONNER-CENTRIC TRAIL TIPS:

• Tahoe Donner’s trails are multi-use, which means everyone can join in the fun – except motorized vehicles. Bicyclists yield to hikers and everyone yields to horses… for obvious reasons!

• Dogs are welcome, but only on leash. And look for the 10 ‘doggie valet’ stations to assist in cleaning up after Fido. • Many of the trails wind around private properties, so be polite

and stay on the trail.

• Complimentary maps are located at six trail head kiosks: Glacier Way, North Ski Slope, Alder Creek, Tahoe Donner Campground, Teton Way and the Northwoods Clubhouse. Maps correspond to numbered trail signage.


Family Friendly

Views Galore

Flower Sightings

NATURE LOOP TRAIL

Families with young children should look no farther than the Nature Loop (#1), says Truckee mother of two Shelly Purdy. The 2.8 mile loop starts at the Northwoods Clubhouse trailhead kiosk and follows Trout Creek to the driving range. “There are two fishing ponds and lots of cool beaver ponds along the way,” Purdy notes. Enjoy the 20 interpretive signs that offer great info on flora and fauna that’s glimpsed along the loop. Remember your baby backpack though, as there are no strollers allowed on this likeable loop.

GLACIER WAY TRAIL

This hike is beautiful any time of day, but particularly at sunset when the stun-ning Sierra alpenglow descends upon the peaks. Take Northwoods Boulevard up to Ski Slope Way and Tahoe Donner Ski Area, which brings you to the Glacier Way trailhead (#24) that features a paved parking lot and picnic tables. The 40-minute, 3 mile round trip hike follows a gravel service road most of the way. There are three knolls that sequentially increase in size and are pretty easy to climb. “There are terrific views of Donner Lake and the Pacific Crest from Castle Peak to Tinker’s Knob,” notes Garry Cox, former leader of the Tahoe Donner trail crew. Check out the Tahoe Donner trail map for several other worthwhile hikes that start near this scenic area.

WILDFLOWER & ASPEN GROVE HIKE

Commencing at the equestrian center (#12 to #62), this 4-mile hike is challeng-ing, but the extra effort is rewarded with a myriad of wildflowers and a lovely aspen grove. “There are fabulous wildflowers here starting around the first part of June,” says Garry Cox. “You’ll find Shooting Stars, Lupine, Skunk Cabbage, Indian Paint-brush and many more. There’s quite a bit of up and down so I wouldn’t take an out-of-shape friend or relative on this one.” This is also a nice place for leaf peepers in the autumn.


Truc

kee

Are

a H

ikes The

Quintessential Sierra Hike

Hiking With a Swimming Hole ChaserMT. JUDAH/PACIFIC

CREST LOOP

The 5.5-mile Mt. Judah Loop trail is accessed off the Pacific Crest Trail south of Old Hwy. 40. From Old 40 east of Donner Ski Ranch, turn onto Mary Lake Road adjacent to Sugar Bowl Academy. The trailhead is a short distance from the Sugar Bowl Academy. Begin the hike heading south on the Pacific Crest Trail. This is a longer hike, but it’s doable for most. “In just 5.5 miles, you get a tremendous bang for your hiking buck,” says Tim Hauserman, author of Tahoe Rim Trail: The Official Guide for Hikers, Mountain Bikers and Equestrians. Awesome ridgetop views, wildflowers, incredible Western white pines and hem-locks. This hike has it all. Hauserman adds if you are looking for something less known, head up to Mt. Lola with its expansive views. “You might have the hike to yourself!”

LOCH LEVEN LAKES

Where to go when the summer heats up? Loch Leven Lakes is a locals’ favorite. Off I-80, the trailhead begins 1/8 mile east of the Big Bend Visitor Center. Upper Loch Leven Lake is just 2 miles away, while High Loch Leven Lake is 1.5 miles farther up. Beautiful vistas of ridges and valleys, high alpine meadows and glaciated terrain can be seen in either direction. For the best swimming hole, head for the far end of the second lake. Bring a picnic and a fishing pole, as locals say the fish are often biting in these picturesque lakes.


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Hiking With a Swimming Hole Chaser

Open Air ClassroomDONNER MEMORIAL STATE PARK

INTERPRETIVE TRAIL

For an easy trek that’s perfect for the whole family (from toddlers to grandparents), head for Donner Memorial State Park - located within the town of Truckee, just west of downtown on the south side of the freeway. A gentle, self-guided natural and cultural interpretive trail starts near the museum and loops through the forest. The educational 1-mile lakeside trail begins in the lagoon portion of the day-use area and continues along Donner Lake. Printed trail guides are available at the park’s entrance kiosk.


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TRUCKEE FATHER’S DAY

RIBFEST & BBQ!

JUNE 17, 2012 Sunday, Noon – 4:00 pm

RIBS, RODS & ROCK-N-ROLLLIVE MUSIC, BEER GARDEN, KIDS CORNER

ENJOY TASTY RIBS & BBQ FROM SOME OF THE AREA’S FINEST RESTAURANTS AND CATERERS

FREE ADMISSION

Tri Counties Bank Plaza12047 Donner Pass Road (located next to Sears)

www.truckeeribfest.com 530-587-8808

JUNE 17, 2012 Sunday, Noon – 4:00 pm

A benefit for the American Cancer Society’s Relay For Life of Truckee-Tahoe

SPONSORS:

Go Big orGo Home!PACIFIC CREST TRAIL, DONNER

SUMMIT TO SQUAW VALLEY

This iconic 15-mile one-way hike is a rite of passage for many a Tahoe local. In turn, hardy hikers are rewarded with some of the most stunning vistas in the area. The trek begins on the rugged ridges of the Sierra Crest on Donner Summit’s Old Highway 40. On the way to Squaw Valley, hikers will travel past Anderson Peak and Tinker’s Knob and snag an amazing glimpse down the vast American River canyon. Besides plenty of water and snacks, hikers will need to take two cars. Leave one at Squaw Valley and drive the other vehicle to the Pacific Crest Trail head located on Old Highway 40, four miles west of Donner Lake’s west end.

Truckee Area Hikes Cont.


Ta s t e . Savo r . Enj o y

Mark your calendar for the 38th

annual Wine & Restaurant Faire, and dream of letting your taste

buds go wild.

Tickets will be on sale, starting in May, at Dickson Realty, Truckee Chamber of Commerce, Truckee Physical Therapy, and on the day at the door.

For more information please contact Sandy Horn at 530.412.0449.

Presented by Soroptimist International of Truckee-Donner

Live & Silent Auctions • • Wine and Beer TastingLive Music • • Souvenir Wine Glass

Culinary Delights Prepared by Area Restaurants and Caterers

Soroptimist Wine & Restaurant Faire Fundraiser

Saturday June 2nd

5:00 p.m. - 7:30 p.m.

Coyote Moon Golf Course10685 Northwoods Blvd., Truckee, CA

04$ ecnavda ni 54$ eht tarood

In an age of virtual reality and Internet overload, there’s a lot to be said for the grounding effect of a family walk in the woods. Most children can maneuver a hiking trail confidently by age 3, even if it’s for only a few hundred yards. Tempering your goal-oriented objectives, particularly with young kids, is the secret to success and harmony.

How to Grow a Happy Hiker

“Experiencing nature is about being intuitive...”


Photo ContestWith all the beautiful scenery Tahoe Donner and Truckee

have to offer, it’s hard not to collect a variety of spectacular photos. For the cover of our May issue, we featured a local pho-tographer at one of his favorite Tahoe Donner spots. We also decided it would be fun to have a 2012 summer photo contest.

Do you take great photos? Do you want to get published? Snap away from now through September 3, and email us your best pictures. There are so many things to explore this sum-mer; we had a difficult time setting strict guidelines for this contest, so just send us your favorites! We will publish the top picks in one of our fall issues of Tahoe Donner News.

Please submit only .jpeg of 300 dpi or higher for printing to [email protected]. Please include a photo cap-tion and story behind your captured moment.

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TAHOE DONNER HIKING CLUBLooking to broaden your hiking repertoire? With hikes offered

four days a week, the 240-member strong Tahoe Donner Hiking Club explores the Tahoe Truckee region, as well as outlying areas like Yosemite and Mt. Whitney.

“The philosophy of the club is to hike at your own pace,” explains club leader and Tahoe Donner homeowner Robin Reese. “Some of us love to hike fast for fitness. Others like to discuss wildflowers or engage in bird watching. We encourage hikers of all abilities to join us. We are a fun-loving group … no whiners allowed!”

And where is Robin’s favorite Tahoe-Trucking hiking trail? “The Tahoe Rim Trail is my very favorite,” she says. “Nothing – except where it overlaps the Pacific Crest Trail – is more than a 10 percent grade and the trail is very well maintained. And the views are amazing!

How to Grow a Happy Hiker

“Experiencing nature is about being intuitive...”

FOR MORE INFORMATION:tahoedonner.com

truckee.com

tahoeloco.com

tahoerimtrail.com

“Experiencing nature is about being intuitive,” says Joseph Cornell, Nevada City renowned nature educator and author. “With children, we need to relax and get into their rhythm. As a parent, you have to honor whatever it is they are tuning into.”

Tim Hauserman, author of Monsters in the Woods: Backpacking with Children, further simplifies the formula for hiking happiness. “Don’t go too far, make it fun and let them play in the dirt!”

And don’t worry; parents don’t need to be the walking Google of Sierra plants and wildlife to be great nature guides. Because in the end, a discovery shared by parent and child is probably the most valu-able lesson of all!

WRITTEN BY ANN LINDEMANN



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Another exciting Masters is in the books, one in which a worldwide television viewing audience received an education on “Bubba” golf, including the virtues of not hitting a golf ball straight, courtesy of 2012 Masters champion, Gerry “Bubba” Watson. What an amazing

way to win one of the most coveted championships in golf while dem-onstrating that the shortest route from the outhouse to the penthouse isn’t always a straight line. Those of you who witnessed his unbeliev-able shot will understand what I’m referring to: seemingly in trouble and on his way to defeat, Bubba hit a shot out of the woods, starting his shot low to go under a tree branch before making the ball curve 40 yards while climbing the necessary height to land on the elevated 10th green. Thanks to his creativity and the ability to curve the ball on

TAHOE DONNER GOLF COURSE’S UPCOMING SEASON

command, Watson was able to conjure up a championship shot under extreme pressure to win on the second hole of the sudden-death playoff. With his victory, the golf season has officially begun, since according to legend, the golf season begins upon the conclusion of the Masters.

What a season we have in store for you. We are optimistic that the harsh conditions and late openings from the past two years are hope-fully behind us, and the golf course will open as on Friday, May 18. We will use all available means to update our patrons on the status of the course as we get closer to our opening date. In the April edition of Tahoe Donner News, I shared some information on what to expect, including early season promotions and new player development pro-grams. Here is another summary of what you can expect at the golf course in 2012.

PUBLIC AMENITY

TAHOE DONNER

GOLF COURSE


OPEN 7 DAYS A WEEK - 530-550-0110M-F 9-6:30 | SAT 9-6 | SUN 11-4

12047 Donner Pass Road - West TruckeePhone orders gladly accepted w/ Sears Card

Not ready to commit to aseason pass this year?No problem. Tahoe Donner has a variety of packages for golferswho play less frequently.

4 Play* $316 5 Play $275 10 Play (Nine hole rounds) $270 10 Play $550 20 Play $1,000

*Includes cart. May be used formultiple players on one day, or one person on multiple days. All packages for Tahoe Donner members only, except for 4 Play. Restrictions apply.For details, visit tahoedonner.com/golf or call (530) 587-9440.

Player Development

We will offer daily golf clinics throughout most of the season, plus one free afternoon clinic per week through the end of June (and possibly beyond). We are also introducing a new Get Golf Ready group lesson series for only $99 per student for six les-sons. This program targets the new/beginner golfer.

Visit PlayGolfAmerica.com for more information on Get Golf Ready.

Spring Golf Promotions

From May 25 through June 15, our TD members can take advantage of the following golf specials (Monday through Friday only) exclusive to TD members and their guests.• Member for the Day | TD members may invite up to seven

guests after 3 p.m. and all players will receive the discounted Twilight member rate of $30 per player, plus a discounted cart fee of $10 per player for those who wish to ride.

• 9-holes for $25 | TD members and accompanied guests who tee off after 4:30 p.m. will receive the discounted member rate of $25 per player, which includes a complimentary cart.

• Last Light | TD members and accompanied guests who tee off after 6 p.m. may play as many holes as they can complete before dark for only $15. In addition, kids under 18 will play for free (one free child per paid adult) after 6 p.m. Note that this promotion is limited to walking only, as carts are not available after 6 p.m.


Circling back to player development, I would also like to introduce the golf instructors on our staff. In the April edition of Tahoe Donner News, I provided a brief summary of my teaching experience and mentioned that I would follow up with a short biography of my fellow instructors.

James Murtagh

James is the first assistant, and has served Tahoe Donner for over a decade. He is easy going, knowledgeable, and has taught junior clin-ics, junior schools and adult clinics for the past 10 years. James will coordinate all junior schools in 2012, and will play an important role with our beginner programs, including daily golf clinics and the Get Golf Ready group lessons. During the winter months, James serves as the junior ski school director at Alpine Meadows, so he works par-ticularly well with juniors.

Charlie Lyon

Charlie returns for his third season at Tahoe Donner, and has built up a clientele of loyal students. Charlie previously taught at Troon North and Troon Golf Club in Scottsdale, Arizona, Lookout Mountain Golf Club in Phoenix, Arizona, and Rancho Manana in Cave Creek, Arizona. In addition, he has worked at D’Andrea Country Club in Sparks, Nevada, and Discovery Bay Golf Club in Discovery Bay, Cali-fornia.

Joe Stakoe

Joe returns for his second season at TD, and comes to us by way of the Golf Academy of America in Orlando, which included volunteer work at nearby Bay Hill and Isleworth golf clubs, where he bumped into many of the top PGA/LPGA tour professionals who either belonged to or frequented

As the old American Express ads used to say, membership has its privileges. Tahoe Donner Golf Course is open to the general public, but members of the homeowners association enjoy special benefits.

For instance, members are able to book tee times 14 days in advance of their round, while other golfers may do so 12 days in advance. It’s a great way to get the time you want, and it’s very easy to do. Just go to tahoe-donner.com/golf and follow the simple directions. You’ll need to set up a Foretees profile, which also allows you to see when other Tahoe Donner members are playing.

If you think you may be visiting your TD property, book a tee time. If necessary, you can cancel within 24 hours of that time.

Tahoe Donner offers a number of season pass options, but for golfers who can’t play as frequently, there are Five Pack and Ten Pack options. At a cost of just $55 per round on a world-class course, you can’t beat it. There’s even a Ten Pack for folks who would rather play only nine

MEMBER TIPS FOR TAHOE DONNER GOLFERS

the clubs. Joe is from Lansing, Michigan, and worked at clubs in Michi-gan, including the Moors Golf Club and Boyne Highlands Resort. Like Phil Mickelson and Bubba Watson, Joe plays the game left-handed, so consider him our resident “lefty.”

John Hamilton

John returns for his third season at TD. After serving as our outside service supervisor in 2011, John indicated his interest in enrolling in the PGA apprentice program, and as such, will be working full-time as an assistant in the golf shop. He has previously assisted with the junior schools and weekly clinics and now hopes to become more actively involved with our instructional program. He is a highly skilled golfer with excellent interpersonal skills, and with a bit more experience under the belt, I expect John to grow into an excellent instructor as well.

As you can see, we have a highly skilled and personable staff to help you develop your golf skills. My instructors, like myself, all share a love for the game of golf and a willingness and desire to assist people in any number of capacities, including golf instruction, club fitting, customer service, merchandise wants/needs, rules interpretations, online reservations questions, etc. As a group, we embrace our collec-tive roles as ambassadors of good will, which includes a commitment to nurturing and sustaining a fun atmosphere and comfortable learning environment on and around the golf course. We look forward to seeing you soon.

Fairways & Greens ED LEINENKUGELDIRECTOR OF GOLF

holes at a time, at a cost of just $27 per outing. Can you say Father’s Day, Mother’s Day or graduation present?

Daily play rates for members have stayed the same for the past three years and remain a value when compared with similar courses. Early and late season rates make it even more attractive. If you’re willing to tee off between 6-7 p.m., the Last Light rates are incredibly low – and free for golfers under the age of 18 who play with a member. Check the web site for details.

If you’re looking to make a personal connection with golfers like you, consider checking out the Men’s Golf Club, the Women’s Golf Club or the 9-Holers Women’s Golf Club. Each offers social options throughout the season, on and off the course.

For more info on special golf deals and events, make sure to sign up for the golf newsletter on tahoedonner.com. Look for the “subscribe” link in the upper right corner of any page.


BULLETINBOARD

The Architectural Standards Committee reviewed the following plans in March 2012.Unit/Lot Street Address Square Ft. Project01/246 12154 Bernese Lane 750 Addition02/206 13056 Falcon Point Lane 600 Garage03/194 12124 Snowpeak Way 3,000 House

HOMES ON THE RISE

Tahoe Donner and the Town of Truckee have a lot of events coming up this summer. Please note the dates below since they are events that can help you dispose of unwanted items and excess yard waste.

May 1 - The Green Bag for Green Waste program is now running year round (although rarely used through the winter) and will get into full swing on May 1. If weather allows and bags are out earlier, they’ll get picked up. Residents may place up to four bags at the curb each week for no additional charge. Bags are available at Mountain Hardware and Tahoe Supply Company. Bags need to be tied and weigh no more than 40 lbs. each for collection. Pine needles, small twigs, pine cones, weeds, shrubs etc. are accepted.

June 2 - Truckee Day is coming. Set aside Saturday, June 2, for the Ninth Annual Truckee Day neighborhood street clean up. It’s easy to participate. Simply grab your work gloves, put on sunscreen and meet at Snow Tech at 17356 Northwoods Blvd. at 8 a.m. Bags, street assignments and clean up instructions will be available there. Street assignments are done on a first-come, first-serve basis so if you want to clean up your favorite street, get there early. Each participant will receive a free t-shirt while supplies last and all participants get to enjoy a free BBQ with music at the Regional Park starting at 12 p.m. following the clean-up.

June 16 - The Town of Truckee will host its annual e-waste recycling day on Saturday, June 16. At the same time and location, the Truckee Police Department will be on hand to accept confidential documents for free onsite shredding. Electronics disposal (computers, TV’s, cell phones, etc.) and universal waste disposal (household batteries, fluorescent light bulbs, empty aerosol cans and any item that contains mercury) will also take place that day. The hours of operation have not yet been announced. If you would like more information on either of these events, please call Nichole Dorr, the Town’s Recycling Coordina-tor at (530)582-2909.

The Pine Needle Day program is undergoing change and more infor-mation will be available through the weekly Tahoe Donner e-mails.

ENID LONGO | ARCHITECTURAL STANDARDS OFFICE


REGULAR BOARD MEETING MINUTES SUMMARY

TAKING CARE OF BUSINESS

• Consent Calendar: Approved 4-0 (Director Knisley Absent) · Inspector of Elections · Committee Charter Revisions · Elections Committee Appointment (Sorensen) · Election Committee Alternate Appointment (Shaver) · Finance Committee Resignation (Stang) · Finance Committee Chair Appointment (Bonzon) · TDA Medical Insurance Policy Renewal

• Presentation & Consideration of Auditor’s Report Fiscal Year 2011: Approved 4-0 (Director Knisley Absent) Following a presentation by Bobbie Hales of Gilbert Associates, Incorporated, the Board accepted the 2011 audit as presented.

• Golf Rates for 2012: Approved 5-0 The board considered Golf Course rates for the 2012 Golf Course season. Following discussion, the board approved the golf rates and fees for 2012 as follows: the daily play member and guest rates remained unchanged for the 3rd

FEBRUARY 25, 2012 consecutive year. For season passes, the 5-day & 7-day member season passes were both increased by $100, to $950 and $1300 respectively, when purchased by April 30.

• Members Request to Waive Late Fee: Disapproved 4-0 (Director Knisley Absent) The board denied members’ requests to waive late fees for the 2012 Annual Assessment.

• Director of Finance and Accounting Report: Approved 4-0 (Director Knisley Absent) The board received a report on the preliminary February 2012 Financials.

• Employee Policies & Procedures Manual: Approved 4-0 (Director Knisley Absent) The board approved an employee manual that provides information about working conditions, employee benefits, and some of the policies affecting employment at Tahoe Donner.


These summaries are intended for general information purposes only. The minutes are available at tahoedonner.com, upon request in the general manager’s office or by calling (530) 587-9431. A copy of the minutes and current agenda are posted outside the Member Services Office in Northwoods Clubhouse.

Minutes of Tahoe Donner Board of Directors meetings are available to members at tahoedonner.com. They can be found on the Board of Directors page in the Members section. Alternatively, members may request that a hard copy be sent to them via the postal service. To make the request, contact Bonnie Watkins at (530) 587-9431.

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• Tahoe Donner Monument and Way Finding Signage: No Action | The board received a report from Forrest Huisman, director of capital projects, on proposed signage for Tahoe Donner and took no action.

• Euer Valley Operating Plan: Approved 4-0 (Director Knisley Absent) Discussion took place regarding proposed “Operating Rules” for the Euer Valley. Following discussion, the board approved publishing for member comment a set of proposed rules for the Euer Valley.

• Cross Country Center/Equestrian Center Operating Plan: No Action | The board received a report from Miguel Sloane, director of operations, regarding a draft site plan for the new Cross Country Center and relocation of the Equestrian Operation and took no action.

• Truckee Special Service Area 1 (TSSA-1) 2012/13 Assessment: No Action | The board discussed funding levels and eligible projects for this assessment and took no action.


TAX TIME AND TAHOE DONNER ASSOCIATION

With spring, we often enjoy great sunny ski-ing and always the IRS filing deadline. Speak-ing of taxes, your association pays several types of taxes as well. This article provides a summary of the types of taxes your associa-tion pays and does not pay.

Tahoe Donner Association is a common interest development corporation, incorpo-rated as a nonprofit mutual benefit corporation in California. While a mutual benefit corpora-tion, not for profit, this does not mean exempt from taxes. The association pays sales tax on applicable purchases of supplies and capital goods, and myriad licenses, fees and permits like any other business in California. Where taxes for the association vary from a regular corporation is primarily with income taxes and property taxes.

For federal income taxes, the association is IRS registered as a 501(c)(4) entity, which is referred to as a Social Welfare Organization. This special entity classification allows the association to be exempt from federal income taxes for most activities, including invest-ment income. The association still pays federal income taxes on the net income of unrelated (to entity purpose) business activities. Please

note that 501(c)(4) does not mean charitable organization and payments to the association are not deductible as charitable contributions. The public portion of amenities is considered an unrelated business activity. However, after factoring expenses there is no tax liability related to this in most years. The association paid $11,000 ($2 per owner) in federal income taxes for 2010.

For state income taxes, the association’s investment earnings are taxable, as is unre-lated business activities income, as well as the gain or loss on the sale of assets. With investment income (US Treasury bonds and FDIC insured Certificate of Deposits interest income) at record lows, the amount of taxable income has been reduced. Regarding invest-ments by the association, preservation of principal balance, not investment returns, is paramount. The association paid $17,000 ($3 per owner) in state income taxes for 2010.

Property taxes are regulated by the state and counties of California. All of the asso-ciation is within Nevada County. Common Property of the association is excluded from the assessment valuation of the association. This common property value is understood to

be inherently within the assessment valua-tions of each individual property within the association. Other association Real Property (land, land improvements, buildings) and all Business Property (equipment, furniture, and supply inventories) are subject to assessment and resulting property taxes which are paid by the association. The assessment valuation does factor the age of business property. For tax year ending June 2011, the association paid approximately $95,000 in property taxes, which equates to $15 per owner. Property taxes will increase (budgeted item) approxi-mately $43,000 ($7 per owner) in 2012 and forward due to the recent acquisitions of the Forestry building 20 acre parcel and the Euer valley land purchase.

If you have any questions regarding your association’s finances, please feel free to call or write anytime. MICHAEL SALMON,DIRECTOR OF [email protected](530) 587-9418

©2009 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office Is Owned And Operated by NRT LLC.

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HOW TO MAKE A TISSUE PAPER FLOWERS

Supplies List:

Pastel tissue paper

Thin steel wire

Glue

Mason jar

Scissors

Wire cutters

Ruler

Branches (Manzanita, Aspen, etc.)

Step 1: Find your branches and cut them to size so that they will fit in your jar without tipping it over. You may also need to let your branches dry a bit, if they are wet from melting snow.

Step 2: Cut tissue paper into rectangles (4x6, 5x7, etc). You will need about 15 sheets per flower, so keep that in mind. You may use the same color or layer different colors together. Be creative!

Step 3: Cut an 8-inch piece of wire for each flower you plan on making.

Step 4: Accordion-fold the stack of larger tissue paper.

Step 5: Fold the wire around the middle of the paper accordion you’ve just created.

Step 6: Trim the outside ends of the flowers for a petal look, and separate the layers of tissue paper. Repeat these steps for all your flowers.

Step 7: Twist and wind the remaining end of wire around your branches. Arrange in Mason jar.

May means spring flowers, warm weather and Mother’s Day. This fun and simple craft will make the perfect centerpiece for mom’s special day and bring some cheerful color and into your home! This craft is great for parents to do with their kids. Supplies can be found around your house, in your back yard and at many local stores in Truckee. With your own creativity, different color combinations and arrangements possibilities are endless!

Important: Younger children may need help trim-ming the branches along with cutting and handling the wire.


ParisFred & Mary Zapponi stand-

ing outside the Louvre. They

visited Paris to celebrate their

36th wedding anniversary!

ParisTodd Acker standing under the

Eiffel Tower on his field trip to Paris while attending a confer-

ence in Brussels.

Email your “Where in the World” photos to: [email protected]. Please submit only .jpeg

of 300 dpi or higher for printing. Photos must include a

copy of TD News. Please list the names of everyone in the

picture, where and when it was taken, and a short descrip-

tion of your captured experience.

Costa Rica Jim, Nancy and Jane Neipp

visited the Hotel Bula Bula in

Playa Grande, where they enjoyed

surfing along with other fun

adventures.

Antarctica Hank and Eileen Lewis aboard

the National Geographic

Explorer on an expedition to

Antarctica, South Georgia

Island, and the Falklands.


January ‐ April : record snowfall• Pros and Cons from snowfall;

overall NOR on Budget

November - December:no snow, missed Budget• Did not open downhill, cross country or

snowplay

• Revenue off $665,000, NOR off only

$205,000 due to good cost controls

May - October (Summer): slow start, good results overall• Golf latest opening on record,

June 24, lacked momentum all season

Golf revenue off $182k/16%

Golf NOR off $64k/131%

• Other amenities performed very well,

effective cost controls

$(100)

$ -

$100

$200

$300

$400

$500

$600

$700

Summer (May - Oct)

January - April

November - December

2011 Annual NOR o� Budget $185,000

4% | $29 per owner

Res

erve

Cap

ital

Fun

ds

| 4

8%

HO

A G

ener

al &

Ad

min

| 3

0%

HO

A M

aint

ance

Sup

po

rt |

12%

,

HO

A F

ore

stry

/Fir

e P

reve

ntio

n |

10%

HO

A U

tili

ties

, Ins

uran

ce, T

axes

| 5

%

Pri

vate

Am

enit

ies

| -1

%

Pub

lic

Am

enit

ies

| -3

%

2011 Budget Annual Assessment per Owner of $1,330 Distribution

Annual Assessment per Owner Operating Fund CAGR 3%Capital Funds CAGR 7%Total Assessment CAGR 5%

Compounded Annual Growth Rate (CAGR), 2007 to 2011

Accumulating funds over time to address the aging infrastructure needs of your associa-tion, consistent with the General Plan, while striving to minimize the operating fund por-tion of your assessment. $200$0 $400 $800$600 $1,200 $1,400$1,000

2007

2008

2009

2010

2011

$619 $318 $22 $138

$660 $330 $17 $143

$695 $334 $25 $146

$695 $348 $25 $232

$695 $360 $25 $250

Operating

New Machinery & Equipment

Development (Reg&BldgRepl)

Replacement Reserve

ANNUAL ASSESSMENT PER OWNER, BY FUND

$200$0 $400 $800$600 $1,200 $1,400$1,000

2007

2008

2009

2010

2011

$619 $318 $22 $138

$660 $330 $17 $143

$695 $334 $25 $146

$695 $348 $25 $232

$695 $360 $25 $250

Operating



Replacement Reserve


$200$0 $400 $800$600 $1,200 $1,400$1,000

2007

2008

2009

2010

2011

$619 $318 $22 $138

$660 $330 $17 $143

$695 $334 $25 $146

$695 $348 $25 $232

$695 $360 $25 $250

Operating



Replacement Reserve


34 | Tahoe Donner 2011 Annual Report

OPERATING FUND - NET OPERATING RESULTS (NOR) 2011 VARIANCE TO BUDGET

Dear Owners,

The purpose of this 2011 Annual Report is to provide a comprehensive report on 2011 financial results and communicate the 2011 Audited Financial Statements and Indepen-dent Auditors Report to all members.

Management, finance committee and the board consistently monitor both operational and financial results, and we are committed to both responsive and proactive manage-ment, balancing our service levels to volume and financial performance.

Please contact me any time to discuss this report or any other financial aspects of your association.

MICHAEL SALMONDIRECTOR OF FINANCE & [email protected](530) 587-9418tahoedonner.com/financials

$40.6 million | $6273 per owner | Members’ Equity as of 12/31/2011, up 3.3% to 2010

$4.1 million | $635 per owner | Capital Contribution by Annual Assessment in 2011

$4.5 million | $695 per owner | Operating Contribution by Annual Assessment in 2011

$8.3 million | Operating Revenues | Down 6% to Budget and down 5% to 2010

$12.9 million | Operating Costs | Down 2% to Budget and up 1% over 2010

$4.7 million | NOR Loss | $185,000 or 4% off Budget, $662,000 or 16% off 2010

139,777 | 383 average per dayTrout Creek visits, up 1% to 2010

45,032 | 421 average per season dayDownhill Ski visits, down 26% to 2010

41,330 | 113 average per dayThe Lodge dinner guests, up 7% to 2010

39,497 | 306 average per season dayMarina visits, up 6% to 2010

AT T E N D A N C E

27,132 | 254 average per season dayCross Country Ski visits, down 27% to 2010

16,868 | 131 average per season dayGolf Rounds, down 11% to 2010

16,522 | 285 average per season daySnowplay visits, down 23% to 2010

1,869 | August 13, 2011Robert Cray concert attendance

January ‐ April : record snowfall• Pros and Cons from snowfall;

overall NOR on Budget

November - December:no snow, missed Budget• Did not open downhill, cross country or

snowplay

• Revenue off $665,000, NOR off only

$205,000 due to good cost controls

May - October (Summer): slow start, good results overall• Golf latest opening on record,

June 24, lacked momentum all season

Golf revenue off $182k/16%

Golf NOR off $64k/131%

• Other amenities performed very well,

effective cost controls

$(100)

$ -

$100

$200

$300

$400

$500

$600

$700

Summer (May - Oct)

January - April

November - December

2011 Annual NOR o� Budget $185,000

4% | $29 per owner

Res

erve

Cap

ital

Fun

ds

| 4

8%

HO

A G

ener

al &

Ad

min

| 3

0%

HO

A M

aint

ance

Sup

po

rt |

12%

,

HO

A F

ore

stry

/Fir

e P

reve

ntio

n |

10%

HO

A U

tili

ties

, Ins

uran

ce, T

axes

| 5

%

Pri

vate

Am

enit

ies

| -1

%

Pub

lic

Am

enit

ies

| -3

%

Tahoe Donner 2011 Annual Report | 35

OPERATING FUNDNet Operating Results (NOR)

per Member Property2010 Actual -$621

2011 Actual -$725

2011 Budget -$695

-$200-$300 -$250 -$150 -$100 -$50 $0 $50 $100 $150

Downhill Ski

Cross Country Ski

Beach Club Marina

Tennis Center

Camps, and Programs

Pizza on the Hill

The Lodge, Summer Lunch & Golf Food Service

Equestrian

Golf Course

Architectural & Member Services

Maintenance

Forestry

General

Management, Accounting, Personnel

The Lodge, Dining & Banquets

Snowplay

3682

127

213338

282123

678

222

-19-13-15

-8-5-14

-13-12-14

-17-17-16

-4-9-14

-45-29-40

-47-50-43

-114-129-114

-121-131-123

-149-169-165

-281-275-266

Trout Creek Recreation Center & Aquatics 229

Campground-2-3-4


Cost of Net Actual toGross Goods Operating Operating 2011 Budget

Revenue Sold Expenses Results Budget Variance

PRIVATE AMENITIES

Trout Creek Recreation Center & Aquatics $ 1,013,246 $ -30,301 $ -971,350 $ 11,595 $ 13,467 $ -1,872

383,54994,831288,381328,622-989,03-496,144aniraM bulC hcaeB

946,4148,01094,51436,861-411,93-832,322retneC sinneT

662,43-121,68-783,021-477,903-152,3-836,291smargorP dna spmaC

TOTAL PRIVATE AMENITIES 1,870,816 -103,655 -1,676,581 90,580 76,686 13,894

PUBLIC AMENITIES

600,201-585,091-195,292-643,361,1-995,77-453,849floG

501,303-684,335183,032604,287,1-370,541-068,751,2aerA ikS llihnwoD

061,28-266,612205,431160,624-195,13-451,295retneC ikS yrtnuoC ssorC

406,5-052,74646,14528,55-0174,79yalpwonS

262,8551,02-398,11-685,45-0396,24dnuorgpmaC

923,1127,011-293,901-412,932-126,3-344,331nairtseuqE

The Lodge, Dining & Banquets 1,464,248 -484,090 -1,004,564 -24,406 -61,021 36,615

The Lodge, Lunch & Golf Food Service 137,557 -53,653 -167,267 -83,363 -78,630 -4,733

211,12-873,13-094,25-176,912-701,09-882,752lliH eht no azziP

TOTAL PUBLIC AMENITIES 5,831,068 -885,734 -5,112,940 -167,606 304,908 -472,514

TOTAL AMENITIES 7,701,884 -989,389 -6,789,521 -77,026 381,594 -458,620

HOMEOWNERS ASSOCIATION AND AMENITIES SUPPORT SERVICES

158,031913,490,1-864,369-323,751,1-0558,391lareneG

Management, Accounting, Personnel, IT 190,588 0 -2,005,873 -1,815,285 -1,780,560 -34,725

Architectural & Member Services 79,737 0 -386,275 -306,538 -320,715 14,177

236,36597,948-361,687-043,798-0771,111yrtseroF

986,99502,438-615,437-615,437-00ecnanetniaM TOTAL HOMEOWNERS ASSOCIATION 575,357 0 -5,181,327 -4,605,970 -4,879,594 273,624

TOTAL OPERATING RESULTS 8,277,241 -989,389 -11,970,848 -4,682,996 -4,498,000 -184,996

0000,894,4000,894,400000,894,4seuneveR tnemssessA

Total Operating Fund $ 12,775,241 $ -1,000,734 $ -11,970,848 $ -184,996 $ 0 $ -184,996

Net Operating Results (NOR) is defined as the net result of operating revenues less cost of goods sold and operating expenses.All Amenity departments costs do not have allocated overhead for administrative, accounting, human resources, or IT support costs. These amenities support costs are in respective departments under the Homeowners Assocation and Support Services section .

ber 31

T R ASSOCIATION - Operating Fund

esults2011 Actual 2011 NOR versus Budget

OPERATING FUND / 2011 DEPARTMENTAL RESULTS


2011 NOR Contribution to 2011 2011 per 2010 per 20112010 to 2010 2011 Replacement Net Results Property Property vs

Actual Variance Actual Reserve Fund After Capital 6471 6471 2010

$ 55,641 $ -44,046 $ 11,595 $ -175,433 $ -163,838 $ -25 $ -15 $ -10

147,799 36,083 183,882 -58,127 125,755 19 13 6

10,917 4,573 15,490 -102,560 -87,070 -13 -8 -5

-97,743 -22,644 -120,387 -9,487 -129,874 -20 -17 -3

116,614 -26,034 90,580 -345,607 -255,027 -39 -27 -12

-259,061 -33,530 -292,591 -606,607 -899,198 -139 -144 5

820,568 -590,187 230,381 -360,674 -130,293 -20 77 -97

244,408 -109,906 134,502 -60,122 74,380 11 26 -15

54,663 -13,017 41,646 -7,000 34,646 5 8 -3

-25,971 14,078 -11,893 -36,224 -48,117 -7 -11 4

-102,631 -6,761 -109,392 -43,466 -152,858 -24 -21 -3

-91,636 67,230 -24,406 -203,588 -227,994 -35 -39 4

-89,459 6,096 -83,363 -23,621 -106,984 -17 -17 0

-90,248 37,758 -52,490 -29,058 -81,548 -13 -18 5

460,633 -628,239 -167,606 -1,370,360 -1,537,966 -238 -139 -99

577,247 -654,273 -77,026 -1,715,967 -1,792,993 -277 -166 -111

-1,070,908 107,440 -963,468 -187,836 -1,151,304 -178 -186 8

-1,723,831 -91,454 -1,815,285 -93,239 -1,908,524 -295 -278 -17

-275,253 -31,285 -306,538 -5,300 -311,838 -48 -43 -5

-793,753 7,590 -786,163 -64,413 -850,576 -131 -139 8

-734,687 171 -734,516 -263,245 -997,761 -154 -157 3-4,598,432 -7,538 -4,605,970 -614,033 -5,220,003 -807 -803 -4

-4,021,185 -661,811 -4,682,996 -2,330,000 -7,012,996 -1,084 -969 -115

4,498,192 -192 4,498,000 2,330,000 6,828,000 1,055 1,043 12

$ 477,007 $ -662,003 $ -184,996 $ 0 $ -184,996 $ -29 $ 74 $ -103

2011 NOR versus Prior Year ~ ~ ~ ~ ~ Amounts Including Replacement Reserve Capital Contribution ~ ~ ~ ~ ~

Year Ending December 31, 2011


OPERATING FUND / 2011 HIGHLIGHTS VERSUS BUDGET

GENERAL

General HOA costs and communications.

Cost savings due to position vacancies and a

favorable income tax credit adjustment.

FORESTRY

Trails, forest health, defensible and open space

management. Cost savings primarily due to the

shortened work season due to the snowpack

from winter 2010/2011 impacting spring 2011.

MAINTENANCE

Common area property, buildings, and vehicles

maintenance. Cost savings primarily due to

reorganization of departments cost savings.

D O N N E R PA SS ROA D

S N OW P E A K WAY

NORTHWOODS BLVD. (LOOP)

FJORD

DONNER LAKE

TO T RU C K E ENO

RT

HW

OO

DS

BLV

D.

O L D H I G H WAY 4 0

I N T E R STAT E 8 0

A L D E R C R E E K R D TO H W Y 8 9

N

W E

S

ALDER CREEK CAMPGROUND:NOR ($12,000) | +8,000/41%

GENERAL: NOR ($963,000) | +130,000/12%

MAINTENANCE:NOR ($735,000) | +100,000/12%

FORESTRY:NOR ($786,000) | +64,000/8%

MEMBER SERVICESNOR ($307,000) | +14,000/4%

MANAGEMENT, ACCOUNTING,PERSONNEL, AND ITNOR ($1,815,000) | ‐34,000/2%

TENNIS:NOR $15,000 | +5,000/43%

GOLF COURSE: NOR ($293,000) | ‐102,000/54%

SNOWPLAY:NOR $42,000 | ‐6,000/12%

TROUT CREEK/AQUATICS:NOR $12,000 |‐2,000/14%

BEACH CLUB MARINA:NOR $184,000 | +45,000/33%

PIZZA ON THE HILL:NOR ($52,000) | ‐21,000/67%

THE LODGE RESTAURANT & PUB:NOR ($24,000) | +37,000/60%

SUMMER F&B:NOR ($83,000) | ‐5,000/6%

EQUESTRIAN CENTER: NOR ($109,000) | +1,000/1%

CROSS COUNTRY SKI:NOR $135,000 | ‐82,000/38%

DOWNHILL SKI:NOR $230,000 | ‐303,000/57%

DAY CAMPS AND RECREATION PROGRAMSNOR ($120,000) | ‐34,000/40%

HOA and Amenity Support Services$274,000 | +6%

Favorable net operating results(NOR) versus budget

Tahoe DonnerMeasurements: 6,471 Properties25,000 Members7,000 Acres250 Employees


GOLF

Latest course opening on record, June 17.

• Rounds off 2,900/16%

• Revenue off $182,000/16%

• Costs savings of $80,000/6%

THE LODGE

Solid year, approaching break-even, despite

December’s weather woes. NOR improved over

2010 by $67,000 or 73%!

• Visits of 41,330, up 2,741/7% to last year

• Revenue of $1.46 million, up $135,000/10% to

last year

• Costs of $1.48 million, up $68,000/5% to last year

DAY CAMPS AND RECREATION PROGRAMS

DAY CAMPS:

Strong program participation and effective

cost reductions.

• $107,000 in revenues, up 27% to budget

• NOR of $19,000 was favorable $27,000 to budget

RECREATION:

Robert Cray Concert, higher revenues and

costs than budget

• Net $2,000 loss

• Off budget $12,000.

Bike rentals start-up operation

• Off budget $18,000.

Member Events

• Increased scope (costs) of member events,

off budget $10,000.

TROUT CREEK/AQUATICS

Strong visitation and fitness classes; revenue

up $35,000/4% Aquatics programs labor costs

over budget $32,000/6% (expanded programs

and trainings)

DOWNHILL SKI AREA

On Budget through November, then did not open

in December. Spring 2011 record snows, good

visits, increased costs.

• Visits off 12,400/22%

• Revenue off $387,000/15%


CROSS COUNTRY SKI AREA

Off Budget $27,000 through November, with

Spring 2011 record snows, negatively impacting

visits and increasing costs. Did not open in

December, missing NOR by $55,000 for the month.

• Visits off 6,200/19%

• Revenue off $148,000/20%


SNOWPLAY

Ahead of Budget $9,000 through November, then

did not open in December, missing NOR by $15,000

for the month.

• Revenue off $3,000/3%

• Costs over budget $3,000/6%

CAMPGROUND

Shortened season, effective marketing and good

cost controls.

• Revenue 7% over budget and 22% over last year.

• NOR 41% better than budget and 54% better

than last year.

EQUESTRIAN

Shortened season, lower revenues and good

cost controls.

• Revenue 19% under budget and 14% under last year.

• NOR 1% better than budget and 7% off last year.

SUMMER FOOD & BEVERAGE

The Lodge’s summer lunch service, golf snack bar

and bar cart, and Trout Creek’s poolside Marco

Polo Grill . Shortened season due to golf’s delayed

opening in 2011, improves margins.

• Revenue of $138,000, down $17,000/11% to

last year

• Costs of $221,000, down $23,000/9% to last year

• NOR of ($83,000), favorable $6,000/7% to last year

MARINA

Strong member and guest visitation (up 8%)

and rental revenues. Revenues up 17% and costs

up 8%.

TENNIS

Visits up 16% and revenues up 5%,

while costs up 3%.

PIZZA ON THE HILL

Continuing to improve on margins, missed an

aggressive budget. NOR improved over 2010 by

$38,000 or 42%!

• Revenue of $257,000, up $6,000/2% to last year

• Costs of $309,000, down $32,000/9% to last year

Public Amenities($473,000) | (155%)

Unfavorable net operating results(NOR) versus budget

Public Amenities Cont. Private Amenities$14,000 | +18%

Favorable net operating results(NOR) versus budget


KEY FUND BALANCES RESERVED FOR FUTURE CAPITAL NEEDS

27% Funded

$1.5MILLION | 2011 EXPENDITURES REPLACEMENT RESERVE FUND

• $359,000 Golf Course (equipment, cart paths, carts lease)• $256,000 IT (computer , network &

phone hardware and software)• $216,000 Downhill Ski (parking lot

paving, rental equipment, fencing, bus)• $198,000 Tennis Center (courts resur-

facing, fencing, access road refurb)• $126,000 HOA General (meeting room

remodel, parking lots sealing)

The Replacement Reserve Fund is used to account for financial resources designated for the repair, restoration, replacement, or main-tenance of, or litigation involving repair, resto-ration, replacement or maintenance of, major components which the association is obligated by state law and sound business practices to repair, restore, replace or maintain. A 30-year reserve funding and expenditure plan is produced every three years, and updated annually, to schedule and analyze the funding and expenditure needs. Over 1,300 individual items are tracked in this plan, with a current replacement value of over $32 million. A com-plete study and plan were performed in 2010, updated in 2011.

2005 2006 2007 2008 2009 2010 2011

Replacement Reserve Fund Development Fund- Regular Development Fund - Building Replacement Designated

Development Fund- RAE Funds (restricted)

$5,000,000

$6,000,000

$4,000,000

$3,000,000

$2,000,000

$1,000,000

$0

$1.8MILLION | 2011 EXPENDITURES DEVELOPMENT FUND

• $916,000 HOA General (Euer valley land acquisition)(RAE funds)• $785,000 HOA General (McGlashan

Springs land acquisition)(Regular funds)• $65,000 Forestry (building acquisition

costs)(Building Replacement funds)• ($120,000) Cross Country (TSSA-1

funds reimbursement from Town)

The Development Fund was established to accumulate funds for use in the development of and additions to facilities identified by the board as necessary due to new capacity requirements of the association, or changing needs of the community. The Development Fund also accounts for the board designated funds accumulated for the specifc purpose of replacing existing buildings. The Develop-ment Fund also accounts for the restricted Recreational Amenities Expansion funds, referred to as the RAE funds. In 2011, $777,000 of RAE funds were expended to acquire land in Euer Valley (in 2012, final escrow close of transaction and majority of remaining RAE Funds expended).

$124,000 | 2011 EXPENDITURES NEW MACHINERY AND EQIP. FUND

• $79,000 IT software & hardware• $15,000 Tennis cabanas• $5,000 Snowplay improvements• $5,000 Pizza on the Hill kitchen equip.

The New Machinery and Equipment Fund is used to account for financial resources designated for the acquisition of new assets identified as necessary for the association to be more efficient in operations or to provide new services to the membership.

PROPERTY FUND

The Property Fund is used to account for the association’s investment in its fixed assets. Capital additions to fixed assets totaled $2,973,000 (in 2010 $2,112,000). Depreciation expense for the year totaled $2,245,000 (in 2010 $2,256,000). Total gross fixed asset value of $49.4m equates to $7,629 per owner and net book value of fixed assets and construction in progress of $27.6m equates to $4,261 per owner (an increase of 3% over 2010).

Replacement Reserve funds as of 12/31/2011 ratio to Replacement Reserve Component total costs on 100% Funded Method calculation.


TAHOE DON SSOCIATIONCapital Funds ary 2011 2011 2011 Actual 2010 2011

Year Ending Dec 1 Actual Budget vs Budget Actual vs 2010

Replacement Reserve Fund:503,768,4ecnalaB dnuF gninnigeB $ 4,404,000$ 463,305$ 4,424,649$ 442,656$ 000,033,2noitubirtnoC tnemssessA 2,330,000 - 2,251,000 79,000 275,71euneveR tseretnI 28,000 (10,428) 13,155 4,417 953,91teN ,esnepxE & euneveR rehtO 10,000 9,359 21,471 (2,112)

)769,733(sesnepxE ecnanetniaM rojaM (342,000) 330,4 (258,528) (79,439) Expenditures for Capital Additions (1,193,521) (1,523,000) 329,479 (1,584,442) 390,921

344,538ecnalaB dnuF ni egnahC 503,000 332,443 442,656 392,787 Ending Fund Balance 5,702,748 4,907,000 795,748 4,867,305 835,443

New Machinery & Equipment Fund:607,64ecnalaB dnuF gninnigeB 33,000 13,706 40,120 6,586 000,261noitubirtnoC tnemssessA 162,000 - 162,000 - 03euneveR tseretnI - 30 9 21

-sesnepxE ecnanetniaM rojaM - - - - Expenditures for Capital Additions (123,708) (123,000) )807( (155,423) 31,715

223,83ecnalaB dnuF ni egnahC 39,000 (678) 6,586 31,736 Ending Fund Balance 85,028 72,000 13,028 46,706 38,322

Development Fund: (includes RAE Restricted, Designated Building Replacement, and Regular)329,227,6ecnalaB dnuF gninnigeB 6,722,000 329 5,567,818 1,155,105 000,816,1noitubirtnoC tnemssessA 1,618,000 - 1,501,000 117,000 844,04euneveR tseretnI 38,000 2,448 63,663 (23,215) 000,001nI refsnarT dnuF gnitarepO 100,000 - - 100,000

)419,21(teN ,esnepxE & euneveR rehtO (9,000) (3,914) (15,224) 2,310 Fund Expenses for Capital Additions (102,617) - (102,617) (22,160) (80,457) Expenditures for Capital Additions (1,655,511) (3,330,000) 1,674,489 (372,174) (1,283,337)

)495,21(ecnalaB dnuF ni egnahC (1,583,000) 1,570,406 1,155,105 (1,167,699) Ending Fund Balance A) 6,710,329 5,139,000 1,571,329 6,722,923 (12,594)

Capital Fund Totals: see next page for by department

Major Maintenance/Fund Expenses (440,584) (342,000) 330,4 (280,688) (79,439) Expenditures for Capital Additions (2,972,740) (4,976,000) 2,003,260 (2,112,039) (860,701)

)423,314,3(latoT $ (5,318,000)$ 2,007,293$ (2,392,727)$ (1,020,597)$

A) Development Fund: Recreational Amenity Expansion (RAE) amounts are restricted funds, refer to Development Fund discussion for further information.

12/31/2011 Ending Balance Components: $2,394,753 RAE Restricted, $3,993,123 Designated Building Replacement, and $322,453 Regular.

12/31/2010 Ending Balance Components: $3,280,551 RAE Restricted, $2,815,802 Designated Building Replacement, and $626,570 Regular.

The variance between Actual and Budget capital expenditures is primarily driven by the timing of projects between years.

CAPITAL FUNDS SUMMARY

The Board has a fiduciary responsibility (by law) to do what is best for the association both now and for the future.

Current owners have the responsibility to pay for the depreciation of association assets, not defer the burden to

future owners. Properly maintaining our assets protects owners' property values.


Capital Major Capital Major Capital Major Capital Major

Additions Maintenance Additions Maintenance Additions Maintenance Additions Maintenance

PRIVATE AMENITIES

439,82retneC noitaerceR keerC tuorT $ 19,483$ -$ -$ -$ -$ 28,934$ 19,483$

796,3aniraM bulC hcaeB 11,864 4,290 - - - 7,987 11,864

860,481retneC sinneT 13,765 15,313 - - - 199,381 13,765

653,71looP sdoowhtroN - - - - - 17,356 -

-smargorP noitaerceR & spmaC - 6,032 - 21,142 - 27,174 -

TOTAL PRIVATE AMENITIES 234,055 45,112 25,635 - 21,142 - 280,832 45,112

PUBLIC AMENITIES

484,502floG 153,105 3,898 - 5,867 - 215,249 153,105

059,312ikS llihnwoD 1,823 - - 50,977 - 264,927 1,823

665,23ikS yrtnuoC ssorC 14,302 - - (119,845) - (87,279) 14,302

-dnuorgpmaC - - - - - - -

131,9nairtseuqE 2,682 - - - - 9,131 2,682

349,45egdoL ehT 9,006 - - - - 54,943 9,006

660,43lliH eht no azziP 1,280 5,156 - - - 39,222 1,280

513,44yalpwonS - 5,195 - - - 49,510 -

TOTAL PUBLIC AMENITIES 594,455 182,198 14,249 - (63,001) - 545,703 182,198

TOTAL AMENITIES 828,510 227,310 39,884 - (41,859) - 826,535 227,310

HOMEOWNERS ASSOCIATION

826,17lareneG 55,286 4,911 - 1,637,590 85,386 1,714,129 140,672

-snoitacinummoC - - - - - - -

-noitartsinimdA ytilicaF - - - - 10,833 - 10,833

364,8noitartsinimdA - - - - - 8,463 -

918,222smetsyS noitamrofnI Management 33,650 78,913 - - - 301,732 33,650

-gnitnuoccA - - - - - - -

-secruoseR namuH - - - - - - -

-eciffO sdradnatS larutcetihcrA - - - - - - -

-secivreS rebmeM - - - - - - -

436,32yrtseroF 7,000 - - 58,490 6,398 82,124 13,398

764,83ecnanetniaM 14,721 - - 1,290 - 39,757 14,721

TOTAL HOMEOWNERS ASSOCIATION 365,011 110,657 83,824 - 1,697,370 102,617 2,146,205 213,274

TOTAL 1,193,521$ 337,967$ 123,708$ -$ 1,655,511$ 102,617$ 2,972,740$ 440,584$

TAH CIATION

Cap ures

Y 11

Replacement Reserve Fund New Machinery & Equipment Fund Development Fund Capital Funds Total

CAPITAL FUNDS EXPENDITURES BY DEPT.


Board of DirectorsTahoe Donner AssociationTruckee, California

We have audited the accompanying statements of financial position of Tahoe Donner Asso-ciation (Association) as of December 31, 2011 and 2010, and the related statements of revenue, expenses and changes in members’ equity, and of cash flows for the years then ended. These financial statements are the responsibility of the Association’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Tahoe Donner Association as of December 31, 2011 and 2010, and the changes in its members’ equity and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

Accounting principles generally accepted in the United States of America require that the information on future major repairs and replacements on page 51 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by generally accepted accounting principles, which considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

GILBERT ASSOCIATES, INC.SACRAMENTO, CALIFORNIAMARCH 21, 2012

INDEPENDENT AUDITOR’S REPORT

STATEMENT OF LEGAL COMPLIANCEA number of state laws and provisions of its own Governing Documents dictate how Tahoe Donner Association is to manage its financial

affairs. Financial reporting, what books and records are to be maintained, how operating and capital needs are determined and funded, how bud-gets are established, and how member assessments are determined and collected are generally the areas regulated in the financial arena. These regulations can be found in the Association’s Covenants and Restrictions (“C&Rs”) and Bylaws, as well as the Civil Code and the Corporations Code. After a review of these regulations and our practices, Association Counsel has determined that the association is in substantial compliance with these requirements.

INDEPENDENT AUDITOR’S REPORTThe independent auditor’s report, prepared by Gilbert Associates, and associated financial statements are pages 43 - 51 of this Annual Report.


STATEMENTS OF FINANCIAL POSITION DECEMBER 31, 2011 AND 2010

AmenitiesHomeowners'

Association

Total Operating

FundOPERATING REVENUES:

815,092,3seef esu dna sseccA 815,092,3 $ $ 342,706,2selas liateR 342,706,2 167,266,1eunever latner dna snosseL 167,266,1 263,141seunever rehtO 561,028$ 702,390

Interest income 14,329 14,329 488,107,7seunever gnitarepo ssorG 575,357 8,277,241

Cost of goods sold (989,389) (989,389) 594,217,6seunever gnitarepo teN 575,357 7,287,852

OPERATING EXPENSES:986,847,3segaw dna seiralaS 2,828,489 6,577,178 659,668stifeneb eeyolpme dna sexat lloryaP 744,268 1,611,224 644,169ecnanetniam dna seilppuS 597,030 1,558,476 227,545seitilitU 212,399 758,121 002,491ecnarusnI 112,133 306,333 031,79sesnepxe eeyolpme rehtO 121,724 218,854

)692,32()tifeneb( sexat emocnI (23,296) Other expenses 375,378 588,580 963,958

125,987,6sesnepxe gnitarepo latoT 5,181,327 11,970,848

NET OPERATING INCOME (LOSS) (77,026) (4,605,970) (4,682,996)

CAPITAL ACTIVITIES:Capital additions and transfersGain (loss) on sale or disposal of assetsFund expensesDepreciation expense

seitivitca latipac latoT

ASSESSMENTS: seunever tnemssessA 4,498,000 4,498,000

INCREASE (DECREASE) IN MEMBERS' EQUITY (77,026)$ (107,970)$ (184,996)

TRANSFERS BETWEEN FUNDS (100,000)

MEMBERS' EQUITY, December 31, 2010 807,598

MEMBERS' EQUITY, December 31, 2011 522,602$

OPERATIONS

The accompanying notes are an integral part of these financial statements.


STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN MEMBERS’ EQUITY DECEMBER 31, 2011 AND 2010

Replacement Reserve Fund


FundDevelopment

FundProperty

Fund Total 2011 Total 2010

3,290,518$ 3,717,902$ 2,607,243 2,594,114 1,662,761 1,873,426

702,390 650,833 17,572$ 30$ 40,448$ 72,379 102,175 17,572 30 40,448 8,335,291 8,938,450

(989,389) (1,000,734) 17,572 30 40,448 7,345,902 7,937,716

6,577,178 6,529,871 1,611,224 1,661,933 1,558,476 1,417,198

758,121 768,240 306,333 312,889 218,854 240,381 (23,296) 70,081

19,758 12,914 996,630 915,747 19,758 12,914 12,003,520 11,916,340

(2,186) 30 27,534 (4,657,618) (3,978,624)

(1,193,521) (123,708) (1,655,511) 2,972,740 $ 39,117 (619) 38,498 23,713

(337,967) (102,617) (440,584) (323,837) (2,244,985) (2,244,985) (2,256,134)

(1,492,371) (123,708) (1,758,128) 727,136 (2,647,071) (2,556,258)

2,330,000 162,000 1,618,000 8,608,000 8,412,192

835,443 38,322 (112,594) 727,136 1,303,311 1,877,310

100,000

4,867,305 46,706 6,722,923 26,843,138 39,287,670 37,410,360

5,702,748$ 85,028$ 6,710,329$ 27,570,274$ 40,590,981$ 39,287,670$

SLATOTLATIPAC



Operating Fund


New Machinery

& Equipment Fund

Development Fund

Property Fund

Total 2011

Total 2010

ASSETS

380,410,1hsaC $ 380,410,1 $ 1,622,080$

499,711detcirtser dna detangised ,hsaC 140,442$ 54,039$ 141,266 $ 453,741 520,611

579,925stnemtsevnI 000,001 629,975 972,089

Investments, designated and restricted 999,950 6,499,960 7,100,231 14,600,141 13,395,610

Assessments and other member receivables, net of allowance for doubtful accountsof $97,440 in 2011 and $92,230 in 2010 292,325 292,325 276,709

513,23selbaviecer rehtO 6,454 6,082 44,851 49,400

494,862yrotnevnI 268,494 249,055

Prepaid expenses and other assets 260,948 260,948 249,593

809,71sdnuf rehto )ot( morf euD 3,311 (616) (20,603)

tnempiuqe dna ytreporp teN 27,570,274$ 27,570,274 26,843,138

TOTAL ASSETS 3,533,992$ 6,650,167$ 153,423$ 7,226,976$ 27,570,274$ 45,134,832$ 44,178,285$

LIABILITIES AND MEMBERS' EQUITY

428,081elbayap stnuoccA $ 134,447$ 7,422$ 8,539 232,133 $ $ 378,526$

949,802,2seunever derrefeD 812,972 60,973 508,108 3,591,002 3,615,622

537,911srebmem morf stisopeD 119,735 96,965

288,105seitilibail deurccA 501,882 799,502

TOTAL LIABILITIES 3,011,390 947,419 68,395 516,647 4,543,851 4,890,615

MEMBERS' EQUITY 522,602 5,702,748 85,028 6,710,329 27,570,274$ 40,590,981 39,287,670

TOTAL LIABILITIES AND MEMBERS'EQUITY 3,533,992$ 6,650,167$ 153,423$ 7,226,976$ 27,570,274$ 45,134,832$ 44,178,285$


STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN MEMBERS’ EQUITY DECEMBER 31, 2011 AND 2010


STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2011 AND 2010

Operating Fund


New Machinery &

Equipment Fund

Development Fund

Property Fund

Total 2011

Total 2010

CASH FLOWS FROM OPERATING ACTIVITIES:

Increase (decrease) in Members' Equity (184,996)$ 835,443$ 38,322$ (112,594)$ 727,136$ 1,303,311$ 1,877,310$

Reconciliation to net cash provided by

operating activities:

Fund transfer (500,285) 500,285

Depreciation expense 2,244,985 2,244,985 2,256,134

srefsnart dna snoitidda latipaC 1,193,521 123,708 1,655,511 (2,972,740)

(Gain) loss on sale or disposal of )711,93(tnempiuqe dna ytreporp 619 (38,498) (23,713)

Changes in:

)616,51(elbaviecer stnemssessA (15,616) (37,358)

)553,8(selbaviecer rehtO (519) 13,423 945,4 22,524

)934,91(yrotnevnI (19,439) 58,011

Prepaid expenses and other assets (11,355) )553,11( 130,330

)860,781(sdnuf rehto )ot( morf euD 171,694 1,594 13,780

)920,54(elbayap stnuoccA (8,289) (678) 6,702 )492,74( (22,991)

)913,28(seunever derrefeD 68,023 5,792 (16,116) (24,620) 285,345

077,22srebmem morf stisopeD 22,770 (40,380)

)026,792(seitilibail deurccA (297,620) 15,537

Net cash provided (used) by operating activities (829,027) 1,720,471 168,738 2,060,991 3,121,173 4,520,749

CASH FLOWS FROM INVESTING ACTIVITIES:

tnempiuqe dna ytreporp fo sesahcruP (1,193,521) (123,708) (1,655,511) )047,279,2( (2,112,039)

Proceeds from sale of property and equipment 39,117 711,93 40,513

)251,857,3(stnemtsevni fo sesahcruP (7,252,161) (100,000) (12,352,104) )714,264,32( (14,268,244)

Proceeds from sale of investments 4,100,000 6,650,000 11,850,000 22,600,000 11,551,666

)000,001(sdnuf neewteb srefsnarT 100,000

Net cash provided (used) by investing activities 241,848 (1,756,565) (223,708) (2,057,615) (3,796,040) (4,788,104)

NET INCREASE (DECREASE) IN CASH (587,179) (36,094) (54,970) 3,376 (674,867) (267,355)

CASH, Beginning of Year 1,719,256 176,536 109,009 137,890 2,142,691 2,410,046

CASH, End of Year 1,132,077$ 140,442$ 54,039$ 141,266$ $ 1,467,824$ 2,142,691$

OTHER CASH FLOW INFORMATION:342,1diap sexat emocnI $ 4,916$ $ 3,509$ $ 9,668$ 51,036$



NOTES TO FINANCIAL STATEMENTS

1. OPERATIONSTahoe Donner Association is a Califor-

nia nonprofit mutual benefit corporation. The association’s members own the 6,471 membership properties within the Tahoe Donner subdivision in Truckee, California. The association was organized to provide management services and maintenance of certain common areas owned by the association. A significant portion of revenue is derived from the assessment of member dues.

The association operates and maintains facilities, which include a golf course and pro shop, restaurant, downhill ski area, club-house, Nordic ski area, beach and marina area, equestrian center, campground, tennis facilities, recreation complex, pools and parks. Revenues are derived from member and non-member usage of these facilities.

Tahoe Donner Association’s Board of Directors is comprised of five members elected to serve three year terms by a vote of the members. The board of directors governs in accordance with the association’s bylaws and declaration of covenants and restric-tions. The board of directors establishes members’ dues and user fees, and has the ability to enter into long-term contracts. Along with other actions, closing an associa-tion amenity (as defined by the governing documents) requires a vote of the members.

2. SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation – the association’s governing documents provide certain guide-lines for governing its financial activities. To ensure observance of limitations and restric-tions on the use of financial resources, the association maintains its accounts using fund accounting. Financial resources are classi-fied for accounting and reporting purposes in the following funds established according to their nature and purpose:

Operating Fund – Used to account for finan-cial resources available for the general opera-tions of the association. Replacement Reserve Fund – Used to account for financial resources designated for the repair, restoration, replacement or maintenance of, or litigation involving repair, restoration, replacement or maintenance of, major components which the association is obligated to repair, restore, replace or main-tain and for which the replacement reserve fund was established.

New Machinery & Equipment Fund – Used to account for financial resources designated for the purchase of new machinery, equip-ment, furnishings and fixtures.

Development Fund – Used to account for financial resources designated for use in the acquisition and enhancement of facilities, equipment and other resources. Restricted funds include proceeds from land received by the association in settlement of claims against the developer, Dart Resorts, Inc. (Dart) which can only be expended to fund the expansion of recreational facilities per terms of the settle-ment of claims against the developer.

Property Fund – Used to account for the association’s investment in its common prop-erty and equipment.

Assessment revenue – Association members are subject to annual dues to provide funds for the association’s operating expenses, major repairs and replacements, development and purchase of new machinery and equipment. Assessment revenue is recognized in the assessment period. Assessments received in advance are deferred until earned. The asso-ciation has the right to suspend certain mem-bership rights and pursue collection through foreclosure action. Bad debts are recognized when an account’s collectability is uncertain.

Access and use fee revenues – Daily fees are charged for access to and use of associa-tion amenities. As an alternate to daily fees, the association sells recreation passes to members that entitle them to use of various amenities. Revenues from these sales are allocated to the various amenities based upon recreation pass usage.

Cash consists of cash on hand, demand deposits at banks and money market funds.

The association minimizes credit risk associ-ated with cash by periodically evaluating the credit quality of its primary financial institution. The balance at times may exceed federally insured limits. The association has not experienced any losses in such accounts and management believes The association is not exposed to any significant credit risk related to cash.

Investments consist of debt securities and certificates of deposits, which are carried at amortized cost as the association has the positive intent and ability to hold all debt securities and certificates of deposit until maturity.

Inventories consist of food and retail goods and are stated at the lower of average cost or market.

Property and equipment of the association includes certain facilities and land contrib-uted by Dart in prior years. These assets are reflected in the accounts at the developers’ cost basis. Purchases are stated at cost. The association capitalizes all expenditures for property and equipment in excess of $2,000. Depreciation is computed using the straight-line method over estimated useful lives of individual assets ranging from 3 to 60 years. These assets are recorded directly in the property fund.Approximately 2,000 acres of undeveloped non-common area real property owned by the association is controlled by the associa-tion’s declaration of covenants and restric-tions, and bylaws.


Interest income is allocated to the operating, replacement and reserve, new machinery and equipment and development funds in propor-tion to the interest-bearing assets of each fund.

Deferred revenue represents funds received for assessments and recreation passes during the current year, which are applicable to the following year.

Income taxes – The association is gener-ally exempt from federal income taxes under Internal Revenue Code 501(c)(4). For Cali-fornia purposes, the association is taxed as a regular corporation. As a membership organi-zation, the association is generally taxed only on non-member income, such as advertising revenue and golf and ski ticket sales to the public, at regular federal corporate tax rates. The association has implemented the amended accounting principles related to the account-ing for uncertainty in income taxes and has determined there is no material impact on the financial statements. With some exceptions, the association is no longer subject to U.S. fed-eral and California income tax examinations by tax authorities for years prior to 2007.

Use of estimates – The preparation of finan-cial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

Subsequent events have been evaluated through March 21, 2012, the date the financial statements were issued.


3. CASH AND INVESTMENTSAt December 31, the association’s cash and investments consisted of undesignated, designated

and restricted accounts as follows: 2011 2010Replacement reserve fund - designated Development fund - restricted (RAE Fund) Development fund - designated New machinery and equip. fund - undesignated/unrestricted New machinery and equip. fund - designated Operating fund - undesignated and unrestricted Operating fund - designated Operating fund - Architectural standards

deposits - restricted (note 5) Total

Board designated funds in the replacement reserve fund cannot be expended for any pur-pose other than the repair, restoration, replacement or maintenance of, or litigation involving repair, restoration, replacement or maintenance of, major components which the Association is obligated to repair, restore, replace or maintain and for which the replacement reserve fund was established as mandated by state law.

Restricted funds in the development fund relate to the proceeds from the sale of a parcel of land which can only be expended to fund the expansion of recreational facilities per terms of the settlement of claims against the developer, Dart Resorts, Inc. These restricted funds are internally known as the Recreational Amenities Expansion (RAE) Fund.

Designated funds in the development fund are controlled by board-adopted policy that affords the board discretion in expenditure, except where member approval is required in connection with the intended project.

Since the association has the positive intent and ability to hold investments until maturity, they are carried at amortized costs determined by specific identification. Unrecognized hold-ing gains and losses are deemed immaterial.

Investments at December 31, 2011 mature as follows:Investment Within 1 Year 1-2 Years TotalU.S. Treasury Certificates of deposit

Total

$6,640,4022,400,0874,841,410

100,00054,039

1,544,058999,950

117,994$16,697,940

$5,574,0503,199,5464,036,756

109,0092,594,169

899,684

97,176$16,510,390

$13,600,241$451,336

$14,051,577$1,178,539

$1,178,539

$13,600,241 $1,629,875

$15,230,116



4.PROPERTY AND EQUIPMENTProperty and equipment consist of the following: 2011 2010Buildings Fixtures and facility improvements Equipment Land and land improvements Furnishings

Total Less accumulated depreciation

Construction in progress

Total

5. DEPOSITS FROM MEMBERSThe deposits held by the Association are primarily security deposits from members for the

construction of residential real property. The deposits are used to ensure that construction is completed in accordance with the guidelines established by the Association’s Architectural Stan-dards Committee. The funds are deposited in a separate trust account and are refundable upon satisfactory completion of construction.

6. REPLACEMENT RESERVE FUNDThe Association’s policy is to maintain replacement funding levels sufficient to pay for capital

replacements, refurbishments and repairs. Replacement funding levels, as determined by a study updated in 2011, are forecast on a 30-year basis with annual updates to replacement schedules, as they become known. Actual expenditures, however, may vary from the estimated amounts and the variations may be material. If additional funds are needed, the Association has the right, subject to any necessary member approval, to increase regular dues, to levy special assessments, or modify and adjust the scheduled major repairs and replacements as necessary.

7. SALARY SAVINGS PLANThe Association maintains a salary savings plan for all eligible employees. The Association

matches 50% of the first 6% of the participant’s contribution. Matching contributions are 20% vested after the third year of service and vest at the rate of 20% per year thereafter. Matching contributions expense was $65,916 and $66,104 for 2011 and 2010, respectively.

8. OPERATING LEASE OBLIGATIONSThe Association has non-cancelable operating leases for copiers, golf carts, land usage

and computer equipment. Rental expense under all operating leases was $138,243 and $194,482 for 2011 and 2010, respectively. Future minimum lease payments under these leases are as follows:

Year ending December 31: 2012 2013 2014 2015 2016 and thereafter Total

$20,988,46311,244,585

9,815,2734,807,832

787,31047,643,463

(21,024,322)26,619,141

223,997$26,843,138

$21,187,682 11,427,3669,812,6996,102,154

835,07249,364,973

(22,485,408)26,879,565

690,709$27,570,274

$97,12428,24221,27011,64251,250

$209,528


In accordance with state law and sound business practices, it is the policy of the association to fund a reserve program that will adequately provide for repair and replacement of existing association-owned assets. A 30-year reserve funding and expenditure plan is produced every three years, and updated annually, to schedule and analyze the funding needs. The Association updated its study in 2011 to estimate the remaining useful lives, the lives after replacement and the replacement costs of the components of common property. The estimates were based on estimates from consultants, management, contractors and historical costs. Estimated current replacement costs take into account the effects of inflation between the date of the study and the date that the components will require repair or replacement.

The Association does not designate the balance in the replacement reserve fund by component. The total available for major repairs and replacements at December 31, 2011, was $5,702,000. The 2012 lot assessments include $2,589,000 to be allocated to the replacement fund.

The Association has not included the replacement of building structures as a component of the replacement study. These structures generally have an estimated useful life greater than 30 years. The Association is accumulating funds in the Development Fund designated for build-ing replacement.

The following table is based on the study and presents significant information about the com-ponents of common property for which funds are being set aside.

Range of Estimated Life Current Remaining Lives After Replacement ReplacementComponent Group (Years) (Years) Costs

Trout Creek, pools & recreation 0-24 1-30 Marina 0-14 1-30 Tennis complex 0-20 1-30 Downhill ski area 0-29 1-30 Cross country 0-22 1-30 Equestrian 0-24 1-30 Golf complex 0-23 1-30 Campground 0-16 1-25 The Lodge 0-24 1-30 Pizza On the Hill 0-30 1-30 Administration 0-30 1-30 Asphalt maintenance 0-28 1-30 Forestry 0-30 1-30 General & building maintenance 0-30 1-30 Vehicle maintenance 0-21 1-30

Total

REQUIRED SUPPLEMENTARY INFORMATION ON FUTURE MAJOR REPAIRS AND REPLACEMENTS DECEMBER 31, 2011 (UNAUDITED)

$2,111,654610,463

1,563,7464,677,0981,193,365

410,2756,674,677

204,1252,762,491

444,7643,613,782

4,022,478975,355

1,895,9871,198,906

$32,359,166


OPERATING REVENUES(excludes Annual Assessment)

$‐ $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000

Downhill Ski

The Lodge

Golf Course

Cross Country Ski

Marina

Pizza on the Hill

Tennis

Administration

Marketing

Equestrian

Day Camp

Forestry

Snowplay

Recreation

ASO

Campground

Member Services

Accounting

The Lodge, Summer Lunch & Golf F&B

Trout Creek Rec Ctr/Aquatics

2011 Budget $8.8 million

2010 Actual $8.9 million

2011 Actual $8.3 million

©2011 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office Is Owned And Operated by NRT LLC. DRE License # 00313415 Note: Data on this page is based on information from the Tahoe Sierra Board of Realtors, MLS. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy. Data maintained by the MLS may not reflect all real estate activity in the market

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