Page 4 - Newsletter_Feb_2020

equipment used on the course, maintain our facilities, and
deliver on needed improvements. Otherwise, the quality
of the facility will deteriorate which will ultimately result
in a serious financial problem.
A quick look at our operating results at the end of
December shows that on a year-to-date basis we have a
small surplus of $9,000 versus a budgeted deficit of
$30,000. On the Revenue side we are doing very well at
$521 k versus budget of $488. This is primarily due to
better than expected membership numbers reflected in the
Dues & Fees line item. Other revenue lines are basically
at the budgeted amounts.
Jumping down to the Membership Roster table you
can see that the Club has a total membership of 681 versus
budget of 675 and playing members of 582 versus 580
budgeted. The Club is doing better than anticipated in the
Reduced Play and Intermediate categories and a little
under on Full Play and Twilight. One note of concern with
these numbers is the impact of existing members moving
from Full Play to Reduced Play which although neutral in
the membership count, is not so in the revenue impact.
As expected, the expenses of the Club continue to be
very well managed and are currently under budget. This
is largely due to the Grounds expenses which are under
budget by $6,000 and Administrative, under by $2,000. It
is very early in the fiscal year and we are expecting that
expenses will likely be very close to the budgeted amount.
As you can see the Committee has a lot of work to do
this year with a number of initiatives and I am grateful for
the wise counsel and advice of ongoing members Bob
Granger, Richard Fyfe, Gord Jones and John Rewers as
well as outgoing members Blair Matheson and Lynn
Constantinescu. I very much appreciate your
contributions to the Committee.
Given the departure of Lynn and Blair I am hoping
that other members would be willing to devote some of
their time and join the Finance Committee, particularly Member Notice

from the Intermediate and Women’s membership. As

dutiful readers of the newsletter will have noted over the In 2020, new members now have 3 options for
past year, the Club does face some financial challenges initiation fee payment. The initiation fee remains
and it would be very valuable to have the perspective and
input from a wide range of members. Primary at $6,000 amortized over 10 years, no interest.

qualifications are less about financial expertise and more Following are the payment options:

about common sense, strong opinions, and good ideas – 1. $600 down and $600 annual installments on
qualities abundant amongst our membership! Anyone the anniversary date of joining; or,

who is interested can send me an email – 2. $50 down and $50 monthly installments; or

bryanthomson445@gmail.com. 3. Discounted full payment of $4,500 upon
Thanks to members for reading this report and as joining.

always if there are any questions let me know. Current members have the option to move from
Bryan Thomson annual to monthly or pay the outstanding balance

Finance Committee of their initiation fee at a calculated discounted.

The discount amount will be based on the
outstanding balance and remaining amortization

period. Please contact the administration office if

you would like to change payment plans or pay the
outstanding balance of initiation fees.