It is with great pleasure that I report on April’s financial performance of the club. It was a poor month weather wise with the course receiving approx. 212mm of rain on an already saturated course. This in turn severely affected competition and social rounds along with the cancellation of a corporate day. The lack of play has a significant spin off effect on bar, bistro and gaming trade. The public holiday’s and subsequent penalty rates in April also put a strain on the club. There was also a carryover of invoices to April 2011 that should have fallen in March due to wanting to be able to report on March’s result at the Special General Meeting held on 5 April 2011. However, with these factors and the other financial commitments that impacted the club in April, we still managed to report a healthy profit of $6667.00 (YTD $37336.00). This is a fantastic result and all management and staff should be congratulated on this effort. It is clear to see that the function and dining activities at the club are providing great results for the club. I hope that all our members continue to support these parts of the club. The membership drive undertaken at the club is also proving very successful with 25 new members joining the club over the past 6 weeks. Thank you to those members that have provided leads to the staff to follow up on.
Some key points from the April 2011 Profit & Loss Statement:
Wages are below the parameters set by the board at 28.8% for April.
- Competition fees and social green fees are down on budgeted forecast. Down 12% YTD (down $60927.00)
- The kitchen made a loss of $5149.00. Carryover of invoices from March affected this result. ($22502.00 profit YTD)
- Bar revenue is up $5000 on budgeted figure for month. YTD shows a small increase on previous year
- Gaming revenue increased 25.4% to April 2010. However, payouts YTD up 21.4%
- Cost of Special General Meeting $7500.00
- All expenses are in line with budgeted figures
There are many clubs in SEQ that are in crisis due to the extreme conditions that have been dealt out over this financial year. However, I think it is fair to say that our club is performing very well due to the measures that have been implemented by the board and management.
Regards,
Tony Stanton
Finance Director
The profit is quite fantastic. Good job to the members and employees.
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