[{"_1":2,"_99":-5,"_100":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",5981308,"mediaKeyId","5844768-c87aae86ae6f24836ece89ed60182a0a","parentId",5844768,"title","Auto Restoration Club seeks $800K–$900K for Phase 3 showroom; committee requests financials and walkthrough","audioSeconds",1116,"startMs",3372000,"endMs",4488000,"viewUrl","/Search/View?dp=1&key=5844768-c87aae86ae6f24836ece89ed60182a0a&start=3372&end=4488","thumbnailUrl","https://assets.pipeline.soar.com/5844768-c87aae86ae6f24836ece89ed60182a0a/thumbnail_3372000.jpg","articleUrl","/articles/5981308/Sun-City-West/Maricopa-County/Arizona/Auto-Restoration-Club-seeks-800K900K-for-Phase-3-showroom-committee-requests-financials-and-walkthrough","mediaUrl","https://secure.pipeline.soar.com/5981308-365dffa37d4fe486806f5b61c25c1b8d/orig.mp4?Expires=1771205635&Signature=iXo2Eqhv50MhXEC7uIEett68HfVIMD46TRZ9E8g4mcOvEl3fPBh1iY7FC0mPqnaRtcXwxxC1oAazopHiJNw3tzXww0GQYtsS3XWPQMdByw8FvZXidk0~2SwyAS4IQChAVyZL8sQMtcpTVvMfHmJiqZFWzyRsgOFGSuLAYDoS7EkyUyUkBroCYW2IA9iWQlZeiEDSllGKU6M8KWZSGsPmP-aYHkXHAooiU1y75vE99a1oQb9Ys6A0xceEeqzUHa-aJt0GHJyAYyJ~xGi4thICa~e8zaKFg8z1Mt8AZhVMcjzt4uryjJBhoFA4nzAYWvuXV43TEbWiM8n0lSyKdVqpxQ__&Key-Pair-Id=KUT5TJCACFTXG","author","Sun City West, AZ ","date","2025-09-17T00:00:00Z","article","John Click summarized to the Budget & Finance Committee on Sept. 16 a preliminary request from the Auto Restoration Club (ARC) to finish a Phase 3 showroom and related spaces. Click said the club estimates the Phase 3 cost at between $800,000 and $900,000, that the club has a time‑sensitive $150,000 donor pledge for steel fabrication available for roughly 18 months, and that the club seeks a financing arrangement through the association’s operating account rather than reserve funding.

Click reviewed ARC’s earlier project history: Phase 1 (Mechanics Building, delivered Feb. 2016) and Phase 2 (paint and body shop, Feb. 2019) together represented $1.3 million in loans originally extended to ARC; the club has repaid approximately $1,078,000 and the outstanding balance on existing loans is roughly $220,000. Committee members were told ARC has generally paid about $75,000 per year toward the loan in recent years (with a COVID year exception) and that, at that pace, the outstanding balance would be paid off in about three years. The club reported roughly $204,000 in revenue in 2024 and said its pre‑loan bottom line is in the range of $75,000, though the committee requested the full set of financial statements to verify details.

Cliff Swan explained the building is on the association’s fixed‑asset schedule but that the club maintains the structure and equipment. He said funds for any new financing would come from the operating account (which holds roughly $7,000,000 on average) and that a note would be recorded on the books; he emphasized this structure does not use reserve dollars and does not require a dues increase. Committee members requested more detail on the loan terms, ARC’s multi‑year financials, and the club’s payment history. A walkthrough of the facility was scheduled for next Monday at 1:00 p.m. and staff will bring the requested financial detail to follow the committee’s review process prior to the November budget‑timeline recommendation.

No formal motion or vote occurred; committee members emphasized due diligence and suggested repayment terms and project scope be clarified before any loan addendum is drafted.","mediaType","Video","parentTitle","Budget and Finance Committee Meeting - Tuesday, Sept. 16, 2025","oneSentenceSummary","The Auto Restoration Club (ARC) presented a preliminary concept for a Phase 3 showroom and requested financing; the committee heard ARC history of previous loaned funds, learned a donor has pledged $150,000 for steel (available 18 months), and asked for detailed club financials and loan terms before any decision.","taxTitle","Sun City West, Maricopa County, Arizona","taxId",54255,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},5981313,"Sun City West reports favorable August results; $67,000 Aetna rebate and APF shortfall discussed",752,1991000,2743000,"/Search/View?dp=1&key=5844768-c87aae86ae6f24836ece89ed60182a0a&start=1991&end=2743","https://assets.pipeline.soar.com/5844768-c87aae86ae6f24836ece89ed60182a0a/thumbnail_1991000.jpg","/articles/5981313/Sun-City-West/Maricopa-County/Arizona/Sun-City-West-reports-favorable-August-results-67000-Aetna-rebate-and-APF-shortfall-discussed","https://secure.pipeline.soar.com/5981313-f6617c448a6368d444056275452af274/orig.mp4?Expires=1771205635&Signature=NlczLea-ND~EdqjmHD6XiV-hW6lcLEul5O99bhCBs6PBlHtF-9GNLOxczsKZEItgG33yoLBlTZ37n73u5ZUWDySbNj6eFqzP85FDLo-ZEi92BcEkC9v-eRqQKLAdhyr26E~~HSAyltHNGW1VJAEd9QxmsiYkZFXkK58BgmUrtG0OCYiVtRxjQRHSFM6EqlGkyiF43Js~g8Nlsl5Tu2wGF2smMD7y0ZGgGUJWiYLMVadzafe2-CqzxRsYeYCB~Y9HhCbRVC85JQ~ahiUHXigpwZf3G5WAbO6YZQAP9IPzSY6Wv7cc-tfIZZ4SDwz6hpqz~wCr85P8NOcpns9ekLjhrw__&Key-Pair-Id=KUT5TJCACFTXG","Cliff Swan presented the Sun City West Budget & Finance Committee with the association’s August operating and capital results on Sept. 16, reporting several favorable variances to budget and a notable insurance rebate that reduced personnel cost lines.

Swan told the committee the month of August finished about $25,000 favorable in revenue (driven in part by the sports pavilion being open longer than the prior-year comparison) and roughly $67,000 favorable in expenses for the month. He reported monthly income from operations was about $92,000 favorable to budget, and year to date the association was about $75,000 favorable to budget. Swan said wages, benefits and taxes showed a $112,000 favorable variance year to date; he attributed a $67,000 portion of that to a rebate from Aetna that resulted from the structure of the association’s 2024 insurance agreement. \"We were pleasantly surprised when we received an email from them stating that we're gonna be receiving a $67,000 refund based on the claims that were paid in 2024 versus the premiums that were paid,\" Swan said.

On capital-related revenue, Swan said APF (asset preservation fee) collections were variable: there was roughly a $162,000 unfavorable variance in APF revenue compared with budget for the month, and year to date the association trailed the prior year by about 11–12 transfers and roughly $53,000. He told members APF volumes fluctuate with the housing market and that Sun City West typically expects about 1,100 to 1,200 APF transactions per year historically. Committee members asked for more detail on carryforwards from last year (items such as the Lizard Acres and Echo Mesa projects). Swan said those projects are funded through encumbrances and the reserve‑fund calculation and offered to present a carryforward report at the next meeting.

Swan also reviewed capital improvements: the fiscal year capital budget totals about $5,000,150 and purchase orders issued to date were about $4,800,000, with an anticipated savings to budget of roughly $327,000 based on current PO prices. He said the association’s fully funded reserve percentage finished 2025 at about 49% and, based on current projections, the association is on pace to meet a 50% fully funded balance for the year.

Committee members raised questions about APF timing and the sensitivity of revenues to the housing market. Mickey Jacobs noted the APF shortfall is a concern given the size of each APF transaction and encouraged monitoring; Swan said staff will keep reporting the monthly variances and provide requested carryforward listings. Swan concluded the financial presentation and the committee set no formal motion; staff will supply additional detail at the committee’s next meeting.","Finance staff reported favorable August operating results and positive reserve fund valuation; committee discussed a $67,000 Aetna rebate recorded in July and noted year-to-date APF (asset preservation fee) receipts were behind prior year.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},5981319,"Sun City West shifts to 25% equity allocation after strong international gains, CapTrust tells finance committee",1563,498000,2061000,"/Search/View?dp=1&key=5844768-c87aae86ae6f24836ece89ed60182a0a&start=498&end=2061","https://assets.pipeline.soar.com/5844768-c87aae86ae6f24836ece89ed60182a0a/thumbnail_498000.jpg","/articles/5981319/Sun-City-West/Maricopa-County/Arizona/Sun-City-West-shifts-to-25-equity-allocation-after-strong-international-gains-CapTrust-tells-finance-committee","https://secure.pipeline.soar.com/5981319-be774b03913b543d612263898b672be6/orig.mp4?Expires=1771205635&Signature=OYcYhcDUIbZdCtDEZ~v6ga2hhMlfrtiC1oO4PjBLQHJFgD7YmxbxbwyrR9dv1viu2lWBHiNJWrMa6qIhWNH1WaIEhNZ9Ae4maPXE-nTXnkzXfyrIWrTsb756yX1s4KaeS8j9fJgfrnYIxyD422FhQwDnFUemlq31VgY3IZgdFzqn2dj~Cq8nz3vJLdh6JiO9zmd3CiY8AJA2R-BXSY02D4P90Zw6yrcswEvFY9XvKPZBu6kPA5o2X4Bxzajd76fcPxXaZIkW2vxv4xOT7XPoZpziIxEfkObVpyGGiyXMg89U1c8Z9vJ3nlcNjUQHz2yNcHF-Sn1jh9nIWYr56jTtqA__&Key-Pair-Id=KUT5TJCACFTXG","Nathan Erickson of CapTrust told the Sun City West Budget & Finance Committee on Sept. 16 that the association’s reserve portfolio produced positive returns year to date through June 30 and that the investment policy was updated in June to a 25% equity and 75% fixed‑income target. Carol Romney of CapTrust presented the portfolio detail and told the committee the combined portfolio and cash reserve meet that directive.

CapTrust noted international equities were the strongest-performing class in the first half of the year (developed international up roughly 20%, emerging markets near 16%) and that those gains, together with a weaker U.S. dollar and tactical rebalancing, contributed materially to performance. Nathan Erickson cautioned that interest-rate moves and policy uncertainty remain headwinds but said long-term equity exposure historically raises the probability of positive outcomes: \"If you react to that in the moment, chances are you're gonna miss out on a good year,\" he said.

Carol Romney reviewed the June 30 portfolio report and said the account value ended year to date at about $28,200,000 with a net investment return of roughly $1,500,000. She said the board adopted a new asset-allocation directive in June (25% equity / 75% fixed income) and a revised benchmark will be used going forward. Romney said CapTrust and staff combined the cash reserve account with the main portfolio for reporting and confirmed the combined holdings are on target with the new allocation. She added the team introduced a floating-rate bond sleeve for short-term reserve cash and uses passive index funds; the portfolio expense ratio reported was 0.06%.

Romney described a tactical trade during the quarter that removed a small‑cap value holding and increased international exposure; committee members were shown the trading summary and the rebalancing schedule. CapTrust also reviewed interest-rate dynamics, corporate‑bond spreads, and the Fed outlook as background for the allocation change.

The CapTrust presentation and slides are attached to the committee agenda; committee members asked no substantive questions during the session.","CapTrust told the Sun City West Budget & Finance Committee on Sept. 16 that the reserve portfolio returned positively year-to-date and that the investment policy was updated in June to a 25% equity / 75% fixed-income target; CapTrust said when combined with the cash reserve the portfolio meets the new targets.","actionData","errors"]

Article not found

Auto Restoration Club seeks $800K–$900K for Phase 3 showroom; committee requests financials and walkthrough

Sun City West reports favorable August results; $67,000 Aetna rebate and APF shortfall discussed

Sun City West shifts to 25% equity allocation after strong international gains, CapTrust tells finance committee