Page 3 - KGFC - Covid 19 Emergency Response

MANAGEMENT COUNCIL

COVID 19 | EMERGENCY ADDRESS

Dear Member,

We hope you have been keeping safe and well throughout this difficult period and that you have been able to
get back golfing on our beautifully conditioned courses.

Unfortunately, as we are all too aware, an untimely and wholly unexpected crisis that is the global pandemic

Covid-19 continues to be an unprecedented event. It has negatively impacted businesses across the world
including our own Golf Club.

The reality is that it has derailed our significant pre-bookings and had a major setback on our financial goals
for 2020. It is estimated that income will be down by approximately €1.1m on budget. As a result, we are now

looking at our 2020 and 2021 seasons with significantly revised expectations.

As the potential impact of Covid-19 was becoming apparent, Management Council immediately took

decisive action to protect the Golf Club’s business. We reviewed in detail the budgeted figures presented at
the AGM last November, we revised these figures considering the projected impact of Covid-19 and we
immediately took the necessary and essential measures to significantly reduce our cost base.

In this report, we have outlined the estimated impact of Covid-19 on the Golf Club’s current Income and

Expenditure figures for this financial year (up to the 30 of September 2020). We have also set out the
th
projected Income and Expenditure figures presented at the AGM last November versus the Projected
Figures arising from the impact of Covid-19. As we continue to see a second wave of lockdown across
many parts of Europe and the World, we outline our future concerns for the remainder of 2020 and 2021.

It is a reality that Covid-19 has had a life changing impact for all of us. There are tough roads ahead but we
remain united, positive and steadfast in our pursuit to navigate the Golf Club safely through this crisis and
into a better and stronger future.

Management Council 2020
Killarney Golf & Fishing Club

COVID 19 | EMERGENCY RESPONSE PLAN | JULY 2020 3