By Larry Crestol
Vice Chair, Finance Advisory Committee
As published in The View, December 2023:
Question of the month: Why would anyone want to spend the time and effort required to be on one of our Community’s Advisory Committees?
Hello neighbors. It is my turn to write an article for The View on behalf of the Finance Advisory Committee (FAC). Every month a committee member can write an article to help homeowners understand what the FAC does. Some members have specific tasks like reviewing financial statements prepared by Troon, Desert Resort Management (DRM), or monthly investment statements from Comerica. Budgeting is handled by all members because it is a complex and lengthy task.
As one of the newest members, I don’t have a fixed realm of responsibility, so I’m available for any new task that the Chair decides need to be accomplished.
How did I come to be on the FAC? My wife of almost 50 years, who worked with me in my office as well as at home 24/7, passed away five years ago. Only those of you who are widows or widowers know how this experience can place you in a devastating fog, losing interest in everything around you.
A friend told me there was an opening on the FAC. She said it was time to get out of my house and put my Certified Public Accounting professional experience and financial talent to work on behalf of the community. She noticed I was slipping more into depression with every passing day. I completed a Committee Interest Form, had an in-person interview with the Chair and Committee , and was approved for membership.
This has improved the quality of my life immeasurably. Working in a group of independent like-minded volunteers, to review the monthly financial reports from DRM and Troon and Association requests for funding for amounts exceeding $5,000, is a challenging responsibility. Once our analysis of financial reports and funding requests is completed, we send our recommendations to the Board for action. All of this is specifically required in the committee’s Charter.
Our members have varied backgrounds, allowing for diverse opinions, experiences, and knowledge. All members are invited by the Chair to ask questions and comment on topics under consideration or rumors going around. This makes for lively conversation and the ability to inspect a topic from varied perspectives.
FAC has a very important subcommittee that does a lot of the heavy lifting. After receiving a Board Action Form (BAF) from the administration for an expenditure exceeding $5,000, this subcommittee’s task is to verify whether the expenditure is necessary and in the best interest of the entire community. The subcommittee has experienced members with backgrounds in engineering, construction, mechanics, etc. They evaluate spending requests by visual inspection to determine whether we need a new replacement or if a repair can be substituted. They evaluate the life of a repair versus a new purchase. Without their hard work, FAC would not have the ability to evaluate financial alternatives that present our best judgment in making recommendations to the Board for a decision.
Other committees have a specific purpose, such as golf or food and beverages. FAC has no limit on its scope and can investigate any financial matter confronting the Association, community amenities, other advisory committees, or chartered clubs. We get to know what is going on in our community from many different angles.
As is my experience in life, when you volunteer for a worthy cause, you get much more back than you contribute. Not only have I met a group of great people but have also been able to contribute to the betterment of the community in which I enjoy living.
I urge every resident who has a particular education or skill and wants to help our community to join one of the Sun City Shadow Hills Advisory Committees. It may change your life for the better as it did mine. Our meetings, for example, include lots of friendly banter not just boring numbers games. My intention is to stir your interest in serving your community. I hope I have succeeded. My service makes me very proud.
Contact the author at finance@scshca.com.