Page 28 - VCC 2022 Capital Plan New

the Club’s finances including operational budgets, capital budgets, renovation budgets, initiation fees, dues,

and membership all pre/during/and post renovation. This financial modeling, along with Mr. Ferreira’s
findings, have allowed us to hone in on what we believe is a very workable plan in terms of assessments and

charges to the members.

Finally, we have engaged the group Club Benchmarking to assist us with a Capital Reserve Study and in

development of a capital strategy for the Club. Club Benchmarking is a group of consultants which have

developed a process for taking publicly available information regarding private clubs and helping us to

benchmark against that information. Their work in terms of a reserve study and capital strategy are meant to
change the overall direction of the finances of the Club and put us on the right path for many years to come.

Establishing a Vision

The strategic planning process included market research, professional insights into the trends occurring in
the private club industry, and significant discussions among the Board and Long Range planning

Committee. In concert with these research efforts, the Strategic Plan was established on the guiding

premise that members must provide input on their current satisfaction and expectations of the Club’s

offerings and service levels. Through a targeted Membership Survey conducted in the summer of 2021, the

Board gathered insight into membership expectations, how well the Club is meeting these expectations, and

how the Club can enhance the member experience in the future.