Download the full Annual Report with financial reports for FY 2019 here.
Looking back over the past months, I can say with great confidence that it has been a year full of progress. Some of it came from the momentum started in 2018 by the unified Covia brand, while other aspects have resulted from a strong strategic focus and our willingness to make difficult decisions. I can proudly say that we are positioned for a future where we can help more seniors live well and age well no matter where they call home.
In February, the Covia Communities Board made the difficult decision to close one of our communities — Los Gatos Meadows. We have long had a goal to redevelop this community to better support the needs of our residents. As we began our evaluation of this long-term plan, we uncovered some safety issues at the campus that accelerated our timeline. Since arriving at the decision, our focus has been on supporting and relocating the residents and fulfilling our commitment to our staff. Soon we will begin the preliminary work of redevelopment. We are committed to staying in Los Gatos with a reimagined approach to community living.
Our year-end financial results as of March 31, 2019, show continued stability and strength as outlined in the audit results in this report. This has been further reinforced by the reaffirmation of our A- rating with a stable outlook from Fitch. Even with the one-time costs for the closure of Los Gatos Meadows, Fitch recognized the operational consistency and strength we continue to demonstrate. Their confidence is a strong signal for a bright future.
One of the important commitments we are making as we move into the future is technology. Over the past year, we have continued to implement software platforms that help us improve the services we provide. From a more efficient electronic health record system, to a new human resource information system, to a refined customer relationship management system, we have invested to create solutions for our residents and employees alike.
And it was our employees that achieved one of our greatest accomplishments this past year. We were once again named a Great Place to Work. Because this certification is based wholly on employee feedback, it says a lot about the success of the efforts we have been making. I am thrilled that our team members throughout Covia, from Support Services to every community and program, feel engaged and committed in helping us fulfill our mission. They are the heart and essence of what we do and how we can make a difference.
Expanding the number of people that we touch was also a core focus over the past year. From high occupancy at our communities to signing a management contract for Friends House, a Life Plan Community in Santa Rosa, to increasing participation in our Well Connected program and launching Well Connected Español, we are involving more seniors. Add to that Home Match launching in other geographies and making ever more shared housing matches, and the measures of progress are truly profound.
We also piloted a meaningful sustainability initiative started by our residents — CoviaGreen. The brainchild of the Green Action committee at St. Paul’s Towers, CoviaGreen involves a pledge by residents and staff to live more sustainably and consider elements of environmental justice in our community planning. The program is slated to roll out to all of our communities and programs in the coming year.
From financial progress to community progress to progress for the environment, this past year has been one of commitment, engagement, and forward movement. I am grateful to the Covia staff, our leadership team, and our Boards for all that we have accomplished this year. Together we have established an incredibly strong foundation for progress and growth.
Inspired by their passion for protecting the environment for future generations, members of St. Paul’s Towers’ Green Action Committee created CoviaGreen, a program focused on sustainable living and environmental responsibility.
The program is centered around the CoviaGreen pledge, which offers residents a number of ways that they can reduce their negative impact on the environment. Pledge items fall into four categories: Waste & Energy Reduction, Materials & Products, Culture & Community, and Water & Food. The choice options allow pledge signers to choose which items are the most relevant to their particular situation. The most popular action items among residents included turning off lights and appliances when not in use, eating more seasonal fruits and vegetables, and learning how to recycle in their community.
CoviaGreen extends beyond the residents and into the St. Paul’s Community with changes in dining and environmental services. In the dining room, Impossible Burgers are now available at every meal and staff are introducing new vegetarian and plant-based proteins. Elsewhere in the community, housekeeping has adopted a program where residents can put out laminated cards to indicate that for that week, linens don’t need to be changed or showers don’t need to be cleaned.
Staff are also encouraged to sign the pledge. Resident Service Manager Jaclyn Carenbauer who, along with the Green Action Committee, has been a driving force for the program, has integrated the pledge into her daily life by biking to and from work. “The program is a great way to bring our community together and to help the environment,” she notes.
Beyond the pledge, Carenbauer commented that CoviaGreen’s main goal is education, explaining that it’s often easy to understand that composting or recycling is important without fully realizing how to go about it. “I didn’t compost before I started this. It’s not popular where I’m from and I thought that if you just put food in the garbage, it would compost,” she says. CoviaGreen provides more information on how everyone can reduce their impact, which can be especially helpful for “people who thought recycling was enough.”
Along with encouraging the St. Paul’s Towers community to sign the pledge, the Green Action Committee is updating signage within the community, including posted reminders for residents to bring their own coffee mugs to the coffee bar and signs to highlight what is in season in the dining area. Future goals for the program include trips to tour a waste management facility and showing relevant documentaries on movie nights.
Although St. Paul’s Towers is currently the only community implementing CoviaGreen, the hope is that other Covia communities will be inspired to adopt the program in the future and make a similar commitment to environmental responsibility.