Page 8 - Northbridge Golf Club 85th Annual Report 2021

NORTHBRIDGE GOLF CLUB LIMITED
TREASURER’S REPORT
On behalf of the Board of Directors, I am pleased to report that the club generated a profit of $171,768 for, the 2020-21 financial year.
A detailed breakdown of the club’s revenue and expenditure can be found on pages 36-38, but some points worth highlighting are as follows:
x Donations received from members via the Australian Sports Foundation were approximately $17,000 and was directed to course improvements
x Landfill income of $16,000 was also directed to course improvements. x Membership Fees increased by $106,000 from the previous year.
x Golf Operations income increased by $288,000.
x We have reduced debt by $300,000 during the year
x There has been additional expenditure on course maintenance and improvements of $177,000.
x The government stimulus package provided the club with an additional $195,000 in revenue which assisted with maintaining sufficient cash flow whilst the clubhouse was closed in that it offset costs associated with maintaining and retaining existing and additional staff.
Despite
in competitions and socially, far exceeded expectations and contributed greatly to the lost revenue and also enabled the club to continue on with many course improvement projects as well as clubhouse updates.
Finally, it has been a pleasure working with Marko and the board in what has been some difficult and challenging times.
The current financial year is once again looking promising as a result of being able to maintain our membership base and increased revenue from course patronage.
John Stephens Treasurer
the disruption to the clubhouse due to COVID-19 restrictions the number of golfers playing
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