Board Brief October 2023
Nominating Committee Update
- Mr. Werner provided a short review of the Nominating Committee’s process to recommend a slate of three Directors for 2024.
- The Nominating Committee will continue to look for ways to bolster more interest in serving on the Board.
- There was strong interest in this year and the committee had a difficult time making their final decision.
Membership Survey Results
- The use of Club Benchmarking proved to be more successful at creating a member survey than the 2023 internal La Cumbre driven survey.
- There was a 61% response rate.
- The club ranked below average in most categories.
- The results will be shared with all members.
GM/COO Update
- 90-Day Report -Adam shared his thoughts and findings on his first 90 days at La Cumbre.
- Management Update – Staff to populate a monthly report for the Board by department.
- Annual Calendar – A calendar was distributed to the Board. Feedback or changes are to be sent to Elizabeth before the end of November.
- Adam requested for the club be closed on November 13th for a staff appreciation day. The Board supported this and asked to be involved if it would be helpful.
- Electronic Voting Consent – There will be a by-law change sent out for member approval to allow electronic voting.
- Christmas Gratuity – Discussion tabled for another time. The current Holiday fund will remain the same for 2023.
- The Board discussed funding that would be allocated for member engagement on long range planning for the club. This plan will solicit member input on developing a NorthStar for the club.
Campus Revitalization Update
- A sample of the Campus Revitalization Communication Plan was presented.
- Timelines have changed slightly for the various renovations which will be included in the update and in the Q3 report.
Dear Members, Over the past two months, Management, the Board, the Finance Committee, and the Capital Planning Committee have been meeting regularly to finalize a proposal that will fund the two major projects ahead: the Golf Course renovation in 2027 ($17 million) and the Clubhouse restoration in 2028 ($16 million). In the coming weeks, Adam and I, along with a small support team, will begin hosting small group member meetings to share these plans, review the past 18 months of financial results, discuss proposed by-law amendments, and outline the offer received from a member group interested in purchasing the Club. Please click here to view a summary of the Board/Finance Committee-approved plan, along with a comparison to the purchase proposal. These documents provide an outline of the presentations, which begin in earnest next week. The full presentation with attachments will be available on the Club website by early next week. In the meantime, the 2024 audited financial statements, along with updates through July 2025, were sent on October 15, inclusive of an explanatory summary. Click here to view the communication. Thank you for your patience and continued engagement. We look forward to sharing these important details and discussing the future of La Cumbre together in the weeks ahead. To register for one of the small group sessions, please click here . Warm regards, Tracy Jenkins Board President La Cumbre Country Club
Governance Committee Update
Dear La Cumbre Members, Next week, the Board will be meeting to tackle the important topic of how to fund our capital needs moving forward. As part of this due diligence, we had received an expression of interest regarding the purchase of the Club. To better understand the optionality, the Board has had additional conversations with other interested parties. The Board is actively engaged in long-range financial planning to ensure that we can sustain and elevate the Club for generations to come. As part of this process, we are exploring a wide range of funding options to support the significant capital investments our Club will need over the coming years. This includes traditional approaches like capital dues, transfer fees, assessments, and loans. In the spirit of good governance and due diligence, the Board is also gathering information about alternative funding avenues, including outside capital interest. To be clear: No decisions have been made No offers are under consideration The Board has not authorized any action toward selling the Club What has occurred are preliminary, exploratory conversations intended to fully understand what options may exist. This process is about building knowledge so that if we need to make major financial decisions in the future, we do so from a well-informed position, always with the best interest of the membership and the long-term health of the Club in mind. We understand that seeing outside individuals on the property may have raised questions, and we regret any confusion this may have caused. Our commitment remains: Transparency with our members Adherence to sound governance principles A deliberate, member-centered process We will continue to keep you informed as these discussions evolve. There will be no path forward on any major initiative without full Board consideration and member engagement. Thank you for your understanding and for your ongoing dedication to the La Cumbre community. Tracy Jenkins President, Board of Director sLa Cumbre Country Club
