In a new video series, Mike Stahl will be discussing this year’s strategic plan: where we’re at and where we’re going. In the videos, Mike will give a short recap and below you be able to read more in-depth details. While this may be lengthy, the hope is that you can dig deeper into the issues that matter most to you and that everyone has a better understanding of Hilltop’s Strategic Vision. This week’s installment is about Our Resources:

Financial Growth: Cash on Hand, Debt Ratio, Investment Opportunities

Financially Hilltop continues to have a very tight year. We are projected to meet budget, but not exactly as planned. Our operational budget (the day-to-day programs) are below budget, primarily due to very high health care costs. However, we have been able to boost budget on our property investments. Hilltop continues to meet out financial requirements with days cash on hand and debt ratio. In “non-accounting terms,” both figures show that we are in a steady and stable financial position.

Technology Integration: SilverSphere, Mobile Device Management, Full Integration of UltiPro (HRIS)

SilverSphere is fully implemented at The Commons, Fountains and Life Adjustment Program and provides those programs full client documentation and resident response system. This system has been a significant upgrade and provides much better coverage. Wi-Fi has been extended throughout our facilities and new mobile devices were purchased as an upgrade from the old pagers.

Securing our employees mobile devices is a new focus of our technology. Systems are currently being vetted and will be implemented in the future.

UltiPro usage continues to expand. The “Learning” module for training and “Perception” for surveying are now operational reducing employee time and paper processes. These modules integrate the process directly into employees’ electronic charts. The recently launched “Out Source” program, an online reference check process, aims to greatly reduce the time gaps and provide a more complete reference in our hiring process.

Facility Upgrades: Interior Design for Senior Life Options, Long-term Improvement Schedules, Capital Dollars

We’ve contracted with Richard Madden for interior design plans for Hilltop facilities. He has completed long-range designs for The Commons, Cottages, Sr. Daybreak, LAP’s Community Center and the new patio homes. We are planning to have plans for the Family Resource Center, Fountains and the corporate office by the end of the fiscal year.

Ten year capital schedules have been created and updated throughout the year. We are currently evaluating funding opportunities to complete multiple big dollar projects at the Commons and Fountains in a short period of time.

The $1 million capital budget is in good shape, and the $200,000 contingency amount has not been touched so far this year. Several projects are under way, with the only area outspending their budget are our Cottages refurbishments. We have had move outs of our oldest units, which require significant upgrades to being them up to standard.

4th Bucket Investments: Continue to vet “highest and best” use of these resources, Patio homes/ Cottage Expansions, Bacon Campus Expansion, Rim Rock Landing Build Out

As mentioned earlier, the initial six patio homes are completed and plans are being evaluated for the next eight units. In addition, the Fountain Hills development is near complete, and all 16 of the private lots reserved. Currently, six homes are under construction and another 4-5 are planned to begin prior to fiscal year end.

Bacon Campus Expansion was detailed earlier.

Rim Rock Landing townhouse build out has begun. The first five units are under contract and construction will start shortly to be completed by fiscal year end. This project will provide significant resources to our programs.

The Rim Rock Apartment project was evaluated. Trying to create the right funding approach, appropriate ROI, and the right apartment design for long-term success. During this process it was determined to sell this property vs developing it ourselves.

We continue to prioritize projects with Hilltop’s existing cash resources, trying to maximize ongoing financial returns for programs.

Did you miss week 1? Click here to watch.
Did you miss week 2? Click here to watch.