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APRIL 2018 | 17
Finally, there are those areas of capital spending that, while
Street. Other capital improvements that have recently been
We are on track so far and as the season opens trends and
in the Clubhouse. Late last season, the main front driveway
Committee is capital spending. The 2018 approved capital
not directly visible to members, are critical to the effective
functioning of the Club: Investments in new hardware and
the creation of a new Ladies’ website with a fresher, more
high-quality Member experience both on the course and
from capital revenues. In addition to covering the cost of
made include a newly-painted and carpeted Clubhouse;
software, as well as a new telephone system are on the
was widened, so as to improve safe access from Yonge
purchasing and leasing required items, spending in this
consistent with the approach taken in recent years and it
budget allows for approximately $440,000 in spending
area focuses on investments to support and maintain a
Another critical area under the purview of the Finance
memorable season

Creating a

Yvonne Bland FINANCE COMMITTEE, CHAIR ensures that the Club is not “living beyond its means.” contemporary look and new tee sheet software. cards for 2018. reforecast will formulate. Yvonne

2018 season! After committee orientation in March, we have
staff to review actual results versus budget with the goal of
ensuring revenue targets are met and spending is prudent
monthly meetings, Committee members work with senior
had our first official Finance meeting in April. During our
Finance Committee activities are well underway for the

and in line with approved budgets. For 2018, total Club revenues are budgeted at $3.6 million with 57% of revenue forecasted to come from annual dues and fees with 87% of these dues and fees revenue coming from Members. Guest Card Holders provide the remaining 13% of the annual dues and fees, and also contribute 43% of green fee revenue. The first pie chart shows sources of revenue by category. Ladies’ is a not-for-profit corporation, so now that dues and fees have been invoiced for 2018, the focus shifts to spending the funds in a way that ensures

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Fee

16 | BEAUTY, GRIT & GRACE