08-11-22.ELECTRONIC.PRESIDENT REPORT.ISSUE 10

F R E N C H M A N ’ S C R E E K , I N C .

President’s Report

Diane Exter, President

August 11, 2022 — Issue 10

Dear Fellow Members,

I hope you are all enjoying your summers wherever you may be!

There is a lot going on right now at Frenchman ’ s. On Sunday July 31 st , we had the last din- ner event at our existing clubhouse which was a Bye - Bye Barbecue attended by 173 Members. Then, the clubhouse was closed and all remaining equipment was removed from the clubhouse. Yesterday, August 10 th , the clubhouse demolition was started along with trenching for the new waterline, which is needed to hook the Fitness/Spa Center directly to Seacoast. The tennis courts adjacent to the east side of the clubhouse have been removed and a temporary emergency roadway installed to allow fire department access to the fitness center. We expect that the demoli- tion and debris clearing will take up to 90 days and be completed by early November... hopefully well before our Thanksgiving guests arrive. Lots of work is going on to finish the Pavilion and the Village, with staff moving into the em- ployee trailers, the kitchen trailers being set up, the laundry being moved, and final electrical, plumb- ing, landscaping and inspections being completed. The goal is to be able to open the Pavilion for three meals a day by mid - September and install the outdoor patio awning in late September. If you are in Frenchman ’ s now you have seen the construction fencing going up, which has changed some traffic patterns for golf carts. Please be careful not to enter any of the construction areas. Parking is very limited so it is best to use your golf carts when coming to the club facilities. Our traditional “ included breakfast ” is being served daily in the Pavilion with a few extras added until the Pavilion is fully open. • The Golf Café is open daily for ala carte breakfast (with pastries, bagels, and a selection of handheld egg sandwiches still free of charge) plus ala carte lunch. • The Poolside Café is open daily for fixed price lunch plus ala carte dinner. • The Beach Club is open for fixed price lunch/brunch daily and ala carte dinner six nights a week. • Takeout & Delivery Service lunch is available from 11:30 to 2:30 from the Poolside Café lunch menu and from 5:30 to 8:30 from the Poolside Café dinner menu. There are also changes to our dining options: •

The paving of Frenchman ’ s Creek Drive and Rivoli Circle has been completed ahead of schedule and on budget.

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GOALS FOR FY22 - 23:

tional needs, branding, and governance best practices. (Malasky - Chair, Mauer, May- blum, Scherer, Exter - Committee Members) 6. Support committees with their goals. Moni- tor and report back on progress. (All Board members).

The FY22 - 23 goals for the Board, the Chief Operating Officer and the Committees were presented at the July 19 th Board meeting. We, as a group, have a lot of things to accom- plish and expect this to be a very productive year. The Board goals (with the Board Members who are point on each goal) are shown below. Miles ’ goals and the various Committees ’ Goals can be viewed in the links provided under the “ click here ” buttons. All goals can be found on the FCC website under the POA, then Goals for FY 22/23. A big thank you to Miles and his staff, the Board Members and all the Committee Chairs and Committee Members who are working on completing these goals. BOARD GOALS FY22 - 23: 1. Develop Key Performance Indicators (KPIs) for Member Experience with Management. Monitor these KPIs throughout the year. 2. Closely monitor the progress on the New Clubhouse project in terms of budget, timing, and features. Clubhouse Committee to work closely with Management and the project pro- fessionals. Clearly communicate progress to the community. (Schulweis - Chair, Azeez, Mayblum - Committee Members). 3. Closely monitor the financial performance of the Club and as appropriate work with Man- agement on priorities and tradeoffs. Clearly communicate financial performance to the community. (Selzer - Treasurer, Parker, Mauer – Board Liaisons) 4. Work with Management and project profes- sionals to develop a comprehensive Master Plan for the Maintenance Area with Timelines and Phases defined. (Parker and Glazer – Co - Chairs) 5. Strategic Planning. Identify and hire a con- sultant to assist with developing a French- man ’ s Creek Strategic Plan. Work with this consultant to develop a community - wide comprehensive survey from which to hone Mission and Vision Statements. Identify key components of the Strategic Plan which will include member satisfaction, future facility needs/improvements, financial and opera-

Click here to view the Goals for Miles Tucker, COO

Click here to view the Goals for the Committees

FINANCIAL MATTERS: • Profit and Loss: The community ended June with an unfavorable variance to budget of $14K: Club income being unfavorable to budget by $84k and the POA favorable by $71k. Lower community occupancy led to a drop in covers of 43%. As a result, F&B gross revenue fell short of budget in both the Main Club ($101K) as well as the Beach Club ($28K). The current Club forecast through September shows a continued neg- ative variance due to lower F&B revenue as well as increases in energy related costs, general inflationary increases (chemicals, fertilizer, operating expenses) and increased energy usage for the Village. September results could see a more positive result as Members return to the Creek and the Pavil- ion begins normal operations. The POA is currently forecasting a small deficit primarily due to higher energy costs & surcharges. • Balance Sheet: Total cash balances at the end of July was approximately $17M. Cur- rently $9.5M is invested in short term U.S. Treasury Bills with the majority of the re- mainder invested in a government money market fund. HOME SALES: We have seen an increase in active list- ings with 9 homes currently on the market. With 4 new member sales closed and 3 additional sales pending we are currently trending above last year. • Forecasts:

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available to assist on a very limited basis. The POA office can provide numbers of vendors who work in the community that can help with shutter installation, etc. NEW CLUBHOUSE COMMITTEE REPORT: On July 20 th , the Clubhouse Committee received Proctor Construction ’ s preliminary hard construction pricing based on P + L ’ s 25% completed architectural plans. Since then, there have been many, many, many hours of meet- ings between Proctor Construction, Peacock + Lewis, Gaudet Associates, the Club ’ s various consultants, numerous subcontractors, the committee members, and other experts to con- firm that nothing was missed and to evaluate numerous possible value engineering options as well as possible scope changes with the goal of bringing the total project price down. This intense work will continue, with the com- mittee presenting at each Board meeting. At this point, the Committee feels confident that the final project price will cost less than $90m. In Conclusion: I hope the remainder of your summer is pleasant and I look forward to seeing you all at the Creek. Best regards, Diane President@Frenchmanscreek.com

NOMINATING PROCESS:

We have started our nominating commit- tee selection process early this year. Every year one - third of our homes have the opportunity to participate in our annual Nominating Committee process. This is an important part of our club governance and I encourage those members who have received a letter to put your name in the hat to serve on our 2022/2023 Nominating Committee. Please. EMERGENCY CALL BOXES: The Community was recently notified by AT&T of a new 5G service which would make our 22 emergency call boxes located on our golf courses, driving range and around the fitness center no longer functional. Service to these boxes have been sporadic at best and not al- ways available. Management ’ s recommenda- tion to remove these boxes (as servicing them has become too costly) was approved by the Board. An amendment to the Rules and Regu- lations was adopted to allow for an exception of cell phone usage on the golf courses in the event of an emergency. HURRICANE PREPARATION: If you have not done so already, we en- courage all members to have your plans in place in the event of a hurricane, especially members in residence. The Club will have very limited re- sources. Our engineering staff will be focusing on the temporary facilities and may only be

COMMUNITY COMMUNICATIONS: GOING GREEN TO SAVE “GREEN” As we approach the coming season, we ’ re hoping to transition as many members as possi- ble to receive communications by email rather than in printed form. A little less than half the membership has already opted in for primarily paperless communications from the Club, which is terrific, but we still spend tens of thousands of dollars printing and mailing each year, so the op- portunity for cost savings is quite significant, not to mention the opportunity to reduce our carbon footprint. So what ’ s the next step? Starting in September, all publications going out to the com- munity will be sent by email only, EXCEPT for members who actively “ Opt In ” to continue receiv- ing “ regular ” (i.e. recurring) communications (such as the Newsletter, FC Life, President ’ s Report, or the Season Handbook) in printed form. How do you Opt In? Just complete the Communication Preferences Form by clicking on the button below. And by the way if you are ok with going paper- less for recurring communications, but still want to receive a printed version of the Season Hand- book, you ’ ll have that option too. Please note, if you are ok with the transition to paperless, you don ’ t need to take any action, as all members who don ’ t actively opt in by August 31 will be converted to paperless starting in September.

CLICK HERE to complete the Communication Preference Form

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Upcoming Meetings

• August 23 • August 24

Board Meeting (2:30 p.m.—Zoom)

Meet the President (4:00 p .m.—Pavilion) Board Meeting (2:30 p.m.—Zoom) Meet the President (4:00 p.m.—Pavilion)

• September 20 • September 21

Please email any questions or comments that you may have for the Board, to President@frenchmanscreek.com

2022/2023 BOARD OF GOVERNORS

Board Members: Stewart Friedman Jeffrey Glazer Jill Kremer

Officers: Diane Exter, President

Michael Azeez, 1st Vice President Robert Scherer, 2nd Vice President Robert Annunziata, 3rd Vice President Herbert Selzer, Treasurer Martin Krall, Secretary

Ellen Malasky Jeffrey Maurer Jon Mayblum Jeffrey Parker Gale Salz Harvey Schulweis