FINANCIAL UPDATE
LGCC continues to exceed 2021 revenues as reflected below .
REVENUE JAN-AUG 2022 JAN-AUG 2021 % INCREASE
Golf $ 294,057 $ 271,333 8 %
F & B $ 307,184 $ 235,835 30 %
Dues / Other $ 478,148 $ 486,691 -2 %
Total $ 1,079,389 $ 993,859 9 %
However , as seen in the second table , revenues are running 2 % behind compared to the budget through August . In addition , expenses are over budget by approximately 4 %, or $ 57k . Overall , LGCC is running $ 77k negative to the budget . ( Please note , these amounts exclude the supportbeing received by a generous member .)
REVENUE JAN-AUG 2022 JAN-AUG 2021 $ DIFFERENCE % DIFFERENCE
Golf $ 294,0057 $ 297,749 $ ( 3,962 ) 99 %
F & B $ 307,184 $ 284,764 $ 22,420 108 %
Dues / Other $ 478,148 $ 517,467 $ ( 39,319 ) 92 %
Total Revenues $ 1,079,389 $ 1,099,980 $ ( 20,591 ) 98 %
Total Expenses $ 1,332,531 $ 1,275,650 $ ( 56,881 ) 104 %
Net Income $ ( 253,142 ) $ ( 175,670 ) $ ( 77,472 )
Management continues to work through the challenges of deferred maintenance , staffing , weather cancellations , and other ups and downs of club management , but is working diligently to manage and reduce costs where possible before year-end .
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Thank you for your membership and support as LGCC continue to make strides forward . See you at the club !
Scott Shank
Finance Committee Chair