Page 38 - Renovation Project: York Club 2023

Click here for the Club’s comprehensive financial
Budget 2024 -2028
modeling as posted on the Club’s website.

Operations will be impacted through the construction period; therefore, we are projecting lower operating revenue for those two
years — along with negative net operating revenue. We are projecting 2026 revenue and profits returning to pre-construction
levels.

2023 2024 2025 2026 2027 2028 2029 2030 2031 2032

Revenue
F&B Revenue $3,355,630 $ 1,764,115 $ 2,999,385 $ 3,213,804 $ 3,313,358 $ 3,417,063 $ 3,500,781 $ 3,586,550 $ 3,674,420 $ 3,764,443
Other Revenue $596,407 $ 120,566 $ 311,881 $ 400,034 $ 412,265 $ 422,395 $ 439,291 $ 456,862 $ 475,137 $ 494,142
Annual Subscription Fees $2,514,749 $ 2,801,868 $ 2,965,293 $ 3,140,799 $ 3,344,284 $ 3,547,732 $ 3,742,511 $ 3,948,125 $ 4,165,174 $ 4,394,290
Total Revenue $6,466,785 $ 4,686,549 $ 6,276,559 $ 6,754,637 $ 7,069,906 $ 7,387,190 $ 7,682,582 $ 7,991,537 $ 8,314,731 $ 8,652,876

Operating Expenses
Cost Of Revenue -$ 1,482,471 -$ 638,474 -$ 1,079,190 -$ 1,181,173 -$ 1,218,284 -$ 1,256,149 -$ 1,306,395 -$ 1,358,651 -$ 1,412,997 -$ 1,469,517
Payroll -$ 3,755,313 -$ 3,887,756 -$ 4,079,841 -$ 4,292,504 -$ 4,501,392 -$ 4,710,566 -$ 4,898,989 -$ 5,094,948 -$ 5,298,746 -$ 5,510,696
OPEX -$ 278,670 -$ 265,500 -$ 262,575 -$ 277,179 -$ 299,259 -$ 313,166 -$ 325,692 -$ 338,720 -$ 352,269 -$ 366,359
Occupancy Costs -$ 633,021 -$ 669,135 -$ 726,349 -$ 754,673 -$ 794,880 -$ 827,317 -$ 860,409 -$ 894,826 -$ 930,619 -$ 967,843
Admin Expenses -$ 189,213 -$ 174,250 -$ 177,145 -$ 176,595 -$ 183,344 -$ 189,012 -$ 196,572 -$ 204,435 -$ 212,612 -$ 221,117
Total Operating Expenses -$ 6,338,688 -$ 5,635,115 -$ 6,325,100 -$ 6,682,125 -$ 6,997,159 -$ 7,296,209 -$ 7,588,058 -$ 7,891,580 -$ 8,207,243 -$ 8,535,533
Operating income (Loss) $ 128,097 -$ 948,566 -$ 48,541 $ 72,512 $ 72,748 $ 90,980 $ 94,524 $ 99,957 $ 107,488 $ 117,343

Operational Cashflow 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Operations
F&B Revenue $ 3,355,630 $ 1,764,115 $ 2,999,385 $ 3,213,804 $ 3,313,358 $ 3,417,063 $ 3,500,781 $ 3,586,550 $ 3,674,420 $ 3,764,443
Other Revenue $ 596,407 $ 120,566 $ 311,881 $ 400,034 $ 412,265 $ 422,395 $ 439,291 $ 456,862 $ 475,137 $ 494,142
F&B and Other Revenue $ 3,952,036 $ 1,884,681 $ 3,311,266 $ 3,613,838 $ 3,725,623 $ 3,839,458 $ 3,940,071 $ 4,043,412 $ 4,149,557 $ 4,258,586
Operating expenses -$ 6,338,688 -$ 5,635,115 -$ 6,325,100 -$ 6,682,125 -$ 6,997,159 -$ 7,296,209 -$ 7,588,058 -$ 7,891,580 -$ 8,207,243 -$ 8,535,533
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Net Operating income (loss) before annual subscriptions$ 2,386,652 -$ 3,750,434 -$ 3,013,834 -$ 3,068,287 -$ 3,271,536 -$ 3,456,752 -$ 3,647,986 -$ 3,848,168 -$ 4,057,686 -$ 4,276,947
Annual Subscription Fees $ 2,514,749 $ 2,801,868 $ 2,965,293 $ 3,140,799 $ 3,344,284 $ 3,547,732 $ 3,742,511 $ 3,948,125 $ 4,165,174 $ 4,394,290
Net Operating Revenue $ 128,097 -$ 948,566 -$ 48,541 $ 72,512 $ 72,748 $ 90,980 $ 94,524 $ 99,957 $ 107,488 $ 117,343
Operation Cash Balance (opening) -$ 774,808 -$ 546,203 -$ 1,494,769 -$ 1,543,310 -$ 1,470,798 -$ 1,398,050 -$ 1,307,070 -$ 1,212,545 -$ 1,112,588 -$ 1,005,100
Operation Cash balance (closing) -$ 546,203 -$ 1,494,769 -$ 1,543,310 -$ 1,470,798 -$ 1,398,050 -$ 1,307,070 -$ 1,212,545 -$ 1,112,588 -$ 1,005,100 -$ 887,757

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