Due to missing the publishing deadline, there is no finance report in the current club newsletter. However, the finance report is below:
The Club
reported a loss for the month of April albeit a small loss of $818.
Contributing
factors were a number of lost days following heavy rain as well as large poker machine
payouts over the month. Of concern was the reduction in Bar,
Function and Green fees against the corresponding period of 2011.
During
April the club held 3 weddings, 1 Corporate golf day, 1 Members birthday
function as well as a number of member/promotional events.
Looking
further into our results and having researched results locally it is
interesting to note that other Clubs and Hotels in the area reported a
significant downturn for April 2012.
This may be
simply a "one off poor month", however it tends to reflect a broader slowdown
in consumer spending and it is fortunate that our club remains in a solid
financial position and will weather any downturn quite well.
An example
of our position is that we have no fulltime men’s membership available. The
vast majority of golf clubs across Australia would envy our position.
With the
completion of the renovations to the Ladies Facilities and the
construction of the new Gazebo ,this brings to an end any capital works
for this financial year. We will continue to complete regular repairs and
maintenance as required but the Board has no further capital expenditure
planned at the present time.
Wages and
salaries for the month remained within the parameters set by the Board .
As stated
earlier, our Club remains in a good financial position and this is
supported by our Internal auditor’s report for April. We will remain
vigilant on costs whilst offering the best experience for all members and
guests both on and off the course.
Tony
Stanton
Director of
Finance
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